TOKYO -- Land values continue to fall beyond Japan's urban areas despite an uptick overall, highlighting population drain's polarizing effect on the real estate market.
Appraisal values on commercial land in 31 of the country's 47 prefectures came in below year-earlier levels as of Jan. 1, the land ministry said Tuesday. Residential values declined in 37. Akita Prefecture's commercial land values fell 4.2% for the steepest drop in the nation, bringing prices more than 40% below their 2008 level.
