The average price of land in Japan has rebounded on solid housing demand, after falling the previous year for the first time in six years due to the impact of the coronavirus pandemic, the government said Tuesday.
The price of land in all categories nationwide, including that designated for residential and commercial use, rose 0.6% from a year earlier as of Jan. 1, according to the Ministry of Land, Infrastructure, Transport and Tourism.
The ministry said it had observed a recovery trend, driven by housing demand in urban areas and vicinities, as the influence of the pandemic is waning. The survey examined 26,000 locations across the country before the so-called "sixth wave" of COVID-19 infections hit Japan.