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Pandemic leads to Japan land prices falling for 1st time in 6 years

The average price of land in Japan fell for the first time in six years due to declining demand for urban commercial land spurred by the novel coronavirus pandemic, the government said Tuesday. Land in all categories, including residential and industrial, fell 0.5 percent from a year earlier as of Jan. 1., compared with a 1.4 percent rise a year earlier.

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