Japanese land prices fall for 7th straight year

Japanese land prices fall for 7th straight year

TOKYO, Japan - The front of the Kyukyodo stationary store in Tokyo's Ginza district is listed as Japan's most expensive piece of land for the 14th straight year in an annual report released Aug. 4 by the National Tax Administration. The property was worth 11.68 million yen per sq. meter, down 1.0% from 1998. But a postcard-sized plot in front of the store was still priced at 173,000 yen.

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