Growth in land prices near chip plants slows in Japan — The Japan Times
As of July 1, annual growth in prices for residential and commercial land plots near semiconductor manufacturing facilities in Japan has slowed. This is indicated by data from the relevant ministry, The Japan Times reports.
Construction costs and housing supply
Among the likely reasons for the slowdown in price dynamics, the ministry cited a sharp increase in construction costs and an oversupply of housing. The agency released the relevant data on Tuesday.
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At the same time, the pace of growth in prices for industrial land is accelerating. The ministry attributes this to steady demand for semiconductors.
The highest growth rates in Tokyo
Tokyo recorded the highest growth rates in prices for both residential and commercial land among all prefectures. The capital became the leader in commercial land price growth for the first time in 12 years.
