Rosenka land values increase for 4th year in a row
The rosenka land values for 2019 were announced by the National Tax Agency on July 1. Nationwide, land values increased by 1.3%. This is the fourth year in a row to record a year-on-year increase. The rate of growth has also expanded, following 0.7% in 2018, 0.4% in 2017 and 0.2% in 2016. This is the first time to see four years of consecutive growth since 1992.
New housing starts forecast to drop a third by 2030
The Nomura Research Institute is forecasting a significant drop in new housing starts across Japan by 2030.
Kyoto’s office shortage is getting dire
Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.
Buying a mountain in Japan
Generally speaking, whether you are Japanese or a foreigner, it is possible to buy and own mountainside forest in Japan.
70% of Japan is forest. According to the Forestry Agency, 40% of that is national forest, with the remaining 60% owned by private individuals and companies.
Owner of abandoned hotel on Lake Towada sued by government
The Japanese government has sued the owner of a derelict hotel in Aomori Prefecture to demolish the building and return the state-owned land. The Towada Kanko Hotel sits on the shores of Lake Towada. It was founded in 1950 before closing in 2012. The owner filed for bankruptcy in 2014.
Residents in mountainous new-town growing increasingly cut-off
Back in February, Japan’s ABC TV ran a special program on problems facing one of the aging 'new towns' that were developed in far-flung, mountainous regions. These subdivisions were developed in the 1970s and 1980s, promoting an ideal lifestyle away from the hustle and grind of downtown Tokyo or Osaka. Decades later, the remaining residents are facing issues both with a declining and aging population, and a lack of access to basic amenities.