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Economy

Negative rates, tourists boost Japan land prices

The price of the land under the Resona Shinsaibashi building in Osaka's Chuo Ward has seen the third-biggest increase in Japan this year.

TOKYO -- Japan's commercial land prices are rising this year for the first time in nine years, helped by growing numbers of foreign tourists and the Bank of Japan's negative interest rate policy.

Prices are increasing fast, especially in large regional cities like Sapporo and Fukuoka, according to an annual survey by the Ministry of land,infrastructure,transport and tourism.

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