Contradictory to common sense, land prices in the stricken sites are rising

By Kikki - Last updated: 水曜日, 7月 20, 2011 - Save & Share - Leave a Comment

[From Ofunato city-my stricken home town]

– East Japan Great Earthquake & Tsunami Disaster-


Scarcity value of land and cost free for dismantlement pushes up prices 

The land prices of some tsunami stricken areas have risen than before the disaster. The stricken areas where the land prices have raised are roughly divided into two.

One is the high ground in stricken areas where houses left unhurt from the tsunami. An expectation of creating new town and transfer of housing area from the stricken area to the high ground pushes it up. A case in Ofunato City was already taken as an example on May 24 at the plenary session of the House of Representatives. ‘We heard that the sale price of certain housing site was 100 thousand yen per tsubo (about 3.3 square meters) before the tsunami, but has treaded in 130 thousand yen.’ Some city official said. The local paper reported that a certain housing site in the high ground in Ishinomaki City has risen over 20%. Ofunato City has started getting information on the land prices of the higher ground, in which was taken as a case for real estate company’s heavy buying at the plenary session of the House of Representatives. ‘Of course, there are trades between citizens, but we have no report of large-scale trading on land now.’ A city official from the Vitality Promoting Section said. The city has now kept eye on the land prices and asked citizens to make cooperation bringing information on land trading.

Another case is a land in stricken areas. There were many closed factories and warehouses along the seaside areas in Tohoku district before the tsunami. However, those lands require additional millions yen for dismantlement and removing wastes from the site. On the other hand, the plants and factories in the stricken areas collapsed in the disaster and rubbles are removed by the state. ‘A large number of lands were sold after the disaster which had kept unsold in long years because of additional cost for dismantlement.’ Even, a real estate appraiser was surprised. Of course, it is a kind of special case. ‘The assessed value of land is usually appraised based on actual treading prices. Although, special cases will be leaved out among them, we won’t be able to exclude these cases if higher land prices are getting common in the stricken areas.’ Real estate appraisers are now confusing, who are now in charge of the cases after the disaster.


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