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High-speed rail creates property minibooms in Japan

The Hokuriku Shinkansen, Japan's newest bullet train line, connects Tokyo with Kanazawa in two and a half hours.

TOKYO -- A new bullet train line and the prospect of further extensions of Japan's ultrahigh-speed rail network have created pockets of robust growth in property markets beyond the capital.

     A property near Nagoya Station logged the biggest gain of any commercial site in the nation's latest official land price survey, jumping more than 40% in the year to July 1. Several high-rises are going up in the neighborhood, including a rebuilt Dainagoya Building, a local landmark. A magnetic-levitation train line connecting Nagoya with Tokyo, slated to open in 2027, will only add to the station's appeal.

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