House price falls in Japan accelerate
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Seriously affected by the global financial crisis, falls in Japan’s residential property prices accelerated during the first half of 2009.
The urban land price in Japan’s six largest cities dropped by 7.8% (9.2% in real terms) in H1 2009 from the previous year, according to the Japan Real Estate Institute (JREI), ending the long-anticipated recovery of Japanese property prices.
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