The average price of land in residential, commercial and industrial areas combined in Fukushima Prefecture as of Jan. 1 edged up 0.8% from a year before, posting an increase for the first time in 22 years, according to official land prices released by the Land, Infrastructure, Transport and Tourism Ministry on March 18. The rate of rise was the fourth largest among Japan’s 47 prefectures.
Land prices in Fukushima Prefecture likely rose due to growing demand for land in the Hamadori area in the eastern part of the prefecture and urban areas stemming from such factors as residence relocation by victims of the Great East Japan Earthquake and the ensuing nuclear accident at Tokyo Electric Power Co.’s Fukushima Daiichi nuclear power plant, and companies building new factories after a lapse of about three years since the disasters occurred.
With average land prices for the prefecture’s residential and industrial areas rising and the rate of fall in the average land price for the commercial area shrinking, the percentage of rise in the overall average for the three areas turned out to be the fourth highest, after Miyagi (3.3%), Tokyo (1.7%) and Aichi (1.2%) prefectures.
Fukushima’s average residential land price rose 1.2% for the first rise in 19 years, the third sharpest gain among all prefectures. Within the prefecture, the highest growth rate of 4.0% was recorded in Iwaki where about 23,000 residents have evacuated from other parts of the prefecture such as Futaba County.