The average land price along select major streets in Tokyo rebounded for the first time in 13 years, growing 0.4 percent from a year before to 458,000 yen per sq. meter as of Jan. 1, the National Tax Agency said Monday.
Nationwide, the average land price fell 3.4 percent to 112,000 yen, extending its downtrend to a 13th straight year, the agency said. Still, the margin of decline was the smallest since 1993, when the 13-year slide began.
Among prime tracts, the land in front of stationery store Kyukyodo in Tokyo's ritzy Ginza district remained the most expensive for the 20th straight year at 15.12 million yen per sq. meter.