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Business trends

Land prices in Japan log first rise in 27 years on foreign investment

Tokyo's financial district lures Asian investors hunting for big returns

Land prices in Tokyo are going up, mainly in financial and business districts in the eastern part of the capital. (Photo by Yoshiyuki Tamai)

TOKYO -- Foreign companies are investing in Japanese real estate at record levels, spurring the first land price increase in 27 years. This has been particularly noticeable in the financial district in eastern Tokyo, where money is pouring in as overseas investors seek better returns than in New York or London.

As of July 1, average land prices were 0.1% higher than a year earlier, the first increase since 1991, data from the Ministry of Land, Infrastructure, Transport and Tourism shows.

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