Tokyo Land Prices Soar: The National Tax...

Tokyo Land Prices Soar: The National Tax Agency has assessed a square yard of land in Tokyo’s prestigious Ginza shopping district at $252,000, up 17.5% from a year earlier, an official said. For the nation, land valuations rose on average 38.1% in the past year, the biggest increase since a 40.2% jump in 1962, said the official, who requested anonymity. The lowest valuation placed on a square yard of land was in Yamaguchi, 480 miles west of Tokyo, at $1,700--up 9.5% from the year-ago period. That was also the lowest rate of increase. The highest rate of increase was 87.2% in Otsu, near Osaka.