Land prices in Japan declined 4.9 percent on average in the year to Jan. 1, dropping for the ninth consecutive year as a result of Japan's long-term economic doldrums, the National Land Agency said in a report released Thursday.
The report on the "listed prices" of land per square meter across Japan showed average prices of residential land falling 4.1 percent last year, compared with a decline of 3.8 percent in 1998.
It also showed the average price of land for commercial use dropped 8 percent from Jan. 1, 1999, a slight rise from the 8.1 percent drop in 1998.