An economic rebound and loose money policy under Prime Minister Shinzo Abe briefly halted a long slide in Japan¡¯s commercial property market, but the benefits of ¡°Abenomics¡± appear increasingly limited to Tokyo, leaving a moribund hinterland.
For a while, as the Bank of Japan printed money and Abe spent it, commercial property investment, a barometer of economic activity, spilled beyond the capital into the country¡¯s larger regional cities.
In the year to July 1, commercial land prices rose 1.9 percent in Tokyo, and 1.5 percent in Osaka and Nagoya, notching up a second year of gains.
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