The average price for land in Japan rose 8.6 percent to 126,000 yen ($1,050) per square meter at the start of 2007 compared to the previous year, The National Tax Agency said on Wednesday.

The price was calculated by the average value of land in almost 410,000 locations around the country compared to that of the previous year. The results include inheritance and gift taxes.

By region, three of the largest metropolitan areas, Tokyo, Osaka and Nagoya, all increased 13.1 percent, 8.1 percent and 9.1 percent.. Twenty prefecture capitals posted record high prices this year, in Tokyo, the prices has hit a new high record for the seventh consecutive year.

The number of prefecture capitals in which the prices fell decreased 19 from 30 the previous year.

The data revealed that the most expensive land in Japan was found in Tokyo's Ginza district shopping district, where the square meter price soared 33.3 percent to 24.96 million yen ($208,000).