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Puzzling, but Okinawa land prices keep on dropping

Date Posted: 2009-10-08

Okinawa’s population is growing, and the island is not, leaving what real estate specialists think should be a boom market.

It’s not, and everyone’s trying to figure why Okinawa’s benchmark land values have been continuously falling for 18 consecutive years. With no alternative land available, prices should be increasing, but Okinawa Prefecture reports all commercial land sales prices are down.

Land doesn’t create cash flow, and investors are looking for profit. That’s one theory, as officials study how people are not investing in land now, instead opting to put their money into bank and stock investments. Even reclaimed land created by the Prefecture is available at favorable prices. The world’s economic woes are a part of the factor, but Prefecture officials say they’ve simply no idea how to boost prices and motivate people to buy land.

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