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Recent land-price rises in Tokyo, Osaka and Nagoya merit scrutiny to determine whether real estate investment in these cities has peaked. On the other hand, land-price movements in the countryside indicate that measures are needed to bolster economic activities, although some areas have seen higher land prices.

Commercial land prices across Japan rose by an average 1 percent as of July 1 from a year earlier — the first rise since the economic bubble burst in 1991. Meanwhile, residential land prices across the nation dropped by an average 0.7 percent, except in Tokyo, Osaka and Nagoya, although the rate of fall has decreased for four consecutive years.

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