Japan land prices rise for 3rd yr but gap widens between cities, rural areas

Land prices in Japan as of Jan. 1 rose for the third consecutive year on the back of brisk demand generated by rising numbers of foreign visitors and urban redevelopment projects, the National Tax Agency said in its annual report released Monday.The increase of 0.7 percent on average from a year earlier represented a higher rate of growth for the second year in a row, but the gap between major cities and rural areas continued to widen, according to the report.A plot in Tokyo's Ginza shopping district in front of the traditional stationery store Kyukyodo fetched record 44.32 million yen ($40…READ FULL ARTICLE