The average price of land facing main streets dropped for the 10th straight year in 2001, falling 6.5 percent to 129,000 yen per sq. meter, the National Tax Agency said Friday.
The margin of decline, based on a survey of some 400,000 locations nationwide by the Land, Infrastructure and Transport Ministry, widened slightly from the previous year's 6.2 percent. It was the first expansion in three years.
The so-called roadside land price will be used by tax authorities to assess inheritance, gift and landholding taxes for 2002.