Tsunami-hit homeowners to receive 80% of former land values
The town of Shinchi in Fukushima Prefecture will soon begin the process of buying up land in coastal areas from residents who have been displaced from the March 11 tsunami. This is the first town to announce official plans and set purchase values.
The land will be purchased at 80% of the government assessed land values (koji-chika) that were valued prior to the disaster.
There are five towns and cities along the tsunami-hit coastline, incuding Minamisoma, Soma, Iwaki, Hirano and Shinchi, that plan to relocate residents to higher ground. In Shinchi, 500 homes were fully or partially destroyed by the Tohoku earthquake and tsunami.Read more
Don't hold your breath for the new Yamanote Line Station
Because it won't be open for another 10 years.
At the beginning of January newspapers were abuzz with news of a new proposed station on the Yamanote Loop Line, and many articles mentioned the potential rise in real estate prices for the area surrounding the proposed station.
But how realistic are these stories?
The proposed station will be between the Shinagawa and Tamachi stations, and if it does get the go ahead, it is still not expected to be open until at least 2020. Similar reports of a new station also made the rounds about eight years ago.Read more