Prices of land facing major roads in Japan as of Jan. 1 rose 2.7% from a year before on average, up for the fourth consecutive year, the National Tax Agency said Tuesday.
Roadside land prices, used to calculate inheritance and gift taxes, logged their steepest increase since the current calculation method was introduced in 2010, reflecting a spike in demand for homes and hotels, as well as resort facilities targeting visitors to Japan.
Prices were up in 35 of the country's 47 prefectures.
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