Apartment redevelopments may become easier
The government is considering a further loosening of rules regarding the redevelopment of older apartment buildings. Under current regulations, at least 4/5ths of the apartment owners must vote in favor to redevelop an apartment building. To demolish the building and sell off the land, a 100% vote in favor is usually required.
The proposed change would reduce the voting ratio to 3/4ths for redevelopment, and 3/4ths to sell off the land.