After fourteen years of steady decline, the average price of property rose for the first time over one year to June 2005, according to a study by the Japanese Ministry of Transport and Spatial Planning (MLIT).
Between 1 July 2004 and June 31, 2005, the price of residential property in the capital rose by 0.5% and 0.6% in the commercial sector, according to the annual study. Growth that fuels the hopes of a return to growth and the possible end of deflation that plagued the Japanese economy for over seven years.
The ministry said the increase reflects the growth in demand for office space and luxury apartments in the center of the megalopolis, the ministry said.
Indeed, new residential towers, ultra-modern, are again ground in neighborhoods of the capital where did not live more than businesses and shops. Massive urban projects around luxury shopping complexes also contribute to attracting businesses and individuals in uptown.
"These data are very positive for the Japanese economy. They show that Japanese companies are more constrained in their investment by ending deflation , "Said Junichi Makino, an analyst at Daiwa Securities.
However, only Tokyo has so far this reboot. Indeed, for the fourteenth consecutive year, prices in the rest of Japan declined. Den in early July 2004 and end June 2005, and are dropped by an average of 3.8% in the residential and 5% in the commercial sector.
In August, another study conducted using data and different criteria by the National Tax Agency showed the same trends.
source: batiactu.com
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