The Tokyo, Osaka and Nagoya metropolitan areas saw commercial land prices rise for the first time in five years in the year to July 1, a government land price survey says.
Commercial land rose 0.6 percent on average for the three major metropolitan areas. Residential land meanwhile posted a minor dip of 0.1 percent, the data showed.
Prices for commercial land are climbing in major cities under Prime Minister Shinzo Abe's deflation-busting stimulus plan. The plan, dubbed "Abenomics," has triggered investment in real estate and housing after the government weakened the yen, sending stocks soaring, analysts said.