Japan sees sharpest rise in land prices since 1992 on inbound tourism

The average overall price of land in Japan as of July 1 rose 1.4 percent from a year earlier, marking the third consecutive year of increase and the sharpest advance since 1992, amid growing inbound tourism and foreign investment due to the weak yen, government data showed Tuesday.Commercial land saw a 2.4 percent jump and residential land a 0.9 percent rise, both also advancing for the third straight year and at the sharpest pace since 1992, when land prices tumbled as the country's asset-inflated economic bubble burst, according to the Ministry of Land, Infrastructure, Transport and Touri…READ FULL ARTICLE