Listed real estate developer and home-builder KI-STAR Real Estate Co., Ltd. has started offering cash payments to home-owners who are struggling to make mortgage repayments amidst the coronavirus crisis. This support program said to be the first of its kind in Japan’s real estate industry.
Applications can be made from May 7 to June 30. A maximum of 450,000 Yen (50,000 Yen a month for up to nine months) will be provided to borrowers who have purchased homes built by the company and have lost their job as a result of the recent economic slowdown.
KI-STAR was founded in 1990. Through their various group companies, they build over 3,000 homes a year across the country. Annual revenues in 2019 topped 103 billion Yen.
Source: KI-STAR Real Estate Co., Ltd. Press Release, May 13, 2020.
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