A record influx of tourists boosting demand for shops and hotels in Tokyo, Osaka and Nagoya has led to commercial land prices in Japan’s three biggest cities rising for a fourth year. The rise of 2.9% in the year ending July 31 was up from a 2.3% the previous year.

Tourist visitor numbers are set for a record year, with arrivals up 27% to 14 million in the first seven months, and hotel investment at $2.2 billion accounted for more than half of the total in Asia.

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