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Price of Okinawan Land Falls to Record Lows

Date Posted: 2001-03-30

The average price of both commercial and residential land in Okinawa has fallen by a record 3.6% over 9 consecutive years of decreases.

Taken on its own, the price of residential land has fallen for the sixth consecutive year. The 0.6% drop in value is the biggest recorded fall, contributing to a total 2.3% drop in prices over the six year period.

The value of commercial land has also fallen, by 7.4% over 10 years, but this year the drop decreased for the first time in four years.

The figures were announced last week by the Okinawa Department of Planning and Development based on the land prices as of Jan. 1 this year, assessed by the Ministry of Land and Transport.

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