Japan land prices post 1st rise in 27 years on tourism boom

An average price of land in Japan edged up 0.1 percent this year from a year before, putting an end to 26 straight years of decline since the burst of the bubble economy era, the government said Tuesday, as a tourism boom spurred construction of hotels and shops.The average prices for all types of land, including commercial, residential and industrial, were surveyed as of July 1 across the country, according to the Land, Infrastructure, Transport and Tourism Ministry.However, the first land price increase in 27 years was mostly due to gains in urban areas, with mountainous and other regiona…READ FULL ARTICLE