Revisions to inheritance tax in Japan

There has been recent movement to increase the inheritance taxes and reduce the tax deductions as a way to distribute wealth. Osaka Mayor Toru Hashimoto has even suggested collecting the entire inheritance so that no wealth is passed onto the next generation.

The revision to the inheritance taxes in Japan was scheduled to go in effect from April 2011, but was delayed due to the Tohoku disaster. The current economic climate suggests that taxes will be increased, and the terms of the increases may be decided this year.Read more

by Zoe Ward

Same day sell-out in Terrace Shibuya Mitake

All apartments made available for sale during the first round of sales for brand new condominium "Terrace Shibuya Mitake" have sold out on the same day.

On March 10, the 90 apartments listed for sale received 197 applications. The average number of applications to apartments was 2.18, and the highest was 13 on one apartment.

Apartments ranged in price from 37.8 to 184 million Yen and the average price is 1,381,000 Yen/sqm (1565 USD/sqft). The average age of the applicants was 49.5 years and their average income was 19 million Yen per year (232,000 USD).Read more

by Zoe Ward