DJ: Land Ministry Survey Shows Rising Urban Land Prices

TOKYO--Land prices rose in more than half of Japan's major urban areas in the first three months of 2013, a government survey showed Wednesday, helped by increasing appetite for commercial investment in major metro areas and rising demand in residential zones in Tokyo.

The quarterly survey of residential and commercial land prices by Japan's land ministry showed that of 150 areas, prices rose in 80 areas, up from 51 in the previous survey. Prices were flat in 51 areas, down from 74 in the previous survey, and fell in 19 areas.

"A turnaround from a previous declining trend to an upward or stable trend can broadly be seen," the report said.

Japan's property market is showing signs of improvement, attracting investment in recent months.

The government survey covered the major cities of Tokyo, Osaka and Nagoya, as well as intensively used land in other major cities. Of the areas surveyed, 65 were in the Tokyo region.

With the exception of two years, Japan's land prices have fallen every year since 1991. A government survey showed earlier this year that overall land prices fell for the fifth straight year in 2012 but by 1.8%, the slowest pace since 2008.