The owner of the Watanabe Residence in Osaka's Yodogawa-ku has had the historical listing cancelled as he plans to demolish the home and sell the land in order to pay a high inheritance tax bill.

The current owner inherited the house two years ago and has not been able to pay the inheritance taxes on the property. An application was made to Osaka's Board of Education to remove the listing, so that the property could be razed and sold. The Board of Education said they often receive applications to remove listings due to fire and other damage, but it is rare to receive a request due to difficulty paying taxes.

This content is available to paid subscribers only.

Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,100 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.

To join our paid subscription service and access over 3,100 news articles on Japan's real estate market, please register here.

Already a paid member? Log-in using your details below.