Palace Akasaka

The Japanese House of Councillors have voted in favour and passed a revision to the apartment redevelopment law which will now allow an apartment building association to sell their building and land with approval from 80% of the apartment owners, rather than the previous requirement of 100%.

In addition, the maximum allowable floor-area-ratio (yosekiritsu) will be relaxed.

These changes will hopefully encourage the redevelopment of ageing and potentially dangerous buildings that do not meet current earthquake-resistant standards.

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