Chart 4-1-1      Change Ratios in Prefectures

1 General Conditions in the Tokyo Area

In relation to the land prices in the Tokyo area, the extent of the decline in land prices for residential properties has diminished in most cases. Also for commercial properties, the extent of the decline in land prices has eased in almost all areas.

(1) In Tokyo Prefecture, regarding lands for residential properties, slight declines were observed in the "Central Wards Area" and "South West Wards Area", and declines of less than 10% per annum were observed in the "North East Wards Area" and the "Tama Area". Regarding lands for commercial properties, land prices fell slightly in the "South West Wards Area" and in other areas by less than 10% decline per annum.
(2) In Kanagawa Prefecture, regarding lands for residential and commercial properties price falls were less than 10% per annum.
(3) In Saitama and Chiba Prefectures, regarding lands for residential properties and lands for commercial properties in the "Other Areas in Chiba Prefecture", the annual decline in prices was more than 10%, but in other areas, the annual decline was less than 10%.

Chart 4-1-2     Change Ratios in the Tokyo Area

2 General Conditions in the Osaka Area

With regard to the land prices for residential properties in the Osaka area, the extent of the decline in land prices increased in more than half areas.
In respect of lands for commercial properties, in more than half of the areas, the extent of the decline in prices diminished.

(1) In Osaka Prefecture, the extent of land price decline on lands for residential properties in "South Osaka" was more than 10% and in other areas the extent was less than 10% per annum. The rate at which the price of lands for commercial properties fell was less than 10% per annum in Osaka City, but in other areas, the rate was more than 10%.
(2) In Hyogo, Kyoto and Nara Prefectures, in respect of lands for residential properties the annual decline of land prices was more than 10% in the "Hanshin Area", buy in other area, the annual decline of land prices was less than 10%. The extent of land price decline on lands for commercial properties, in Kyoto City and "other areas in Kyoto prefecture" the annual decline was less than 10%, but in other areas, the annual decline was more than 10%.

Chart 4-1-3      Change Ratios in the Osaka Area

3      General Conditions in the Nagoya Area

In the Nagoya Area, the extent of the decline in land prices for residential properties worsened in most areas. For commercial properties, the extent of the decline in land prices diminished in half areas.

In Aichi Prefecture and Mie Prefecture, in respect of lands for residential properties, the land prices were only a slight decline in "Nishi Mikawa Area" and Mie prefecture and in other areas the annual decline of land prices was less than 10%. In respect of lands for commercial properties, the annual decline of land prices was more than 10% in the "Areas Near Nagoya" but in other areas, the annual decline was less than 10%.

Chart 4-1-4      Change Ratios in the Nagoya Area

4      General Conditions in the Local Areas

In the central cities in local regions (Sapporo, Sendai, Hiroshima and Fukuoka City), in respect of lands for residential properties, the extent in the decline of land prices increased in all cities. In respect of lands for commercial properties, in Sendai City and Fukuoka City, the extent of the decline in land prices has diminished, but in Sapporo City and Hiroshima City the extent of decline increased.
In the cities surrounding the three metropolitan areas, in respect of lands for residential properties, in most cases the extent of the decline in prices increased: in Gifu City, etc., the decline was less than 10%, and in Kofu City, etc., the decline was more than 10%. In respect of lands for commercial properties, in more than half of the cities, the extent of the decline in land prices increased; in Utsunomiya City, etc. the decline was more than 10% and in Wakayama City, etc. the decline was less than 10%.
In other local major cities, in respect of lands for residential properties, in nearly all cities the extent of the decline in land prices increased. In Tottori City, etc. the decline was less than 10%, in Akita City, etc. the decline was slight, in Kagoshima City etc. land prices leveled off, and in Fukui City, etc. the decline was more than 10%. In respect of lands for commercial properties, in more than half cities the extent of the decline in land prices increased, in Iwaki City etc. the decline was more than 10% and in Shizuoka City, etc. the decline was less than 10%.

Chart 4-1-5      Change Ratios in the Local Cities