The decline in land prices accelerated over the year to July 1, falling for a 12th consecutive year, according to a government survey released Thursday.
The annual survey by the Land, Infrastructure and Transport Ministry shows the average price of land for residential areas fell 4.8 percent. They dropped 4.3 percent the year before.
The average price for commercial real estate was down 7.4 percent, compared with a 7.2 percent drop the previous year.