Earthquake insurance premiums on residential real estate in Japan could rise by as much as 30% to reflect updated earthquake risk predictions.
Up until now, the highest premium hike was in July 2014 when premiums were raised by 15.5% in response to the 2011 Tohoku disaster. To lessen the immediate burden on consumers, the Financial Services Agency, which is in charge of approving insurance premiums, is considering applying the increase in stages over several years. The higher premiums could go into effect as early as next year.
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 3,200 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 3,200 news articles on Japan's real estate market, please register here.
Already a paid member? Log-in using your details below.