Real state and land prices have been falling in Japan during the last 15-16 years. In this chart, there is data until 2005.
I think this chart is made with average data from urban land prices.
After 2005 it continued falling but at the end of 2006 and during 2007 prices started rise (A little bit, around 0.something%). Prices rose really fast since the end of the 70s until the bubble exploded at the beginning of the 90s, it has been continuous fall until recently. What do you thing will happen with the sub prime crisis in the US and other countries, will it be like in Japan, or do you think it will be fixed in one or two years?