Changes underway that will no longer require 100% of condo owners to agree on demolition
The Ministry of Justice announced plans on November 5 that would affect the the number of condo owners that need to agree before a building can be demolished, or its land sold.
Currently, if a condominium is severely damaged in a disaster and needs to be demolished, 100% of apartment owners must agree to the plan. If one person was against demolition, they could not proceed. However, for restoration or emergency repair work, the ratio of agreement required is 3:4, and for tearing down and rebuilding, the ratio is 4:5.Read more
Former residence of Mitsubishi zaibatsu leader donated to Chiba
The former residence of Mitsubishi's third leader, Hisaya Iwasaki, in Tomisato City, Chiba, has been donated by Mitsubishi Jisho to the city. The city has plans to turn the villa and its surrounding land into a public park.Read more
Malaysian developer to build resort in Okinawa
Kin Town in Okinawa announced on October 18 that they have signed a contract to lease beachfront land to Malaysian property developer Dijiaya Land Development.Read more
Sendai's property bubble
Somewhat sensationalist magazine Nikkan SPA has reported that Sendai is experiencing a property bubble brought on by the reconstruction work following the Tohoku disaster.Read more
Lose weight and pay less rent?
One share house in Osaka has come up with a unique concept of combining weight loss with rent. The 'Beauty&Diet Ladies Sharehouse' in Suita City is offering tenants a discount of 1,000 Yen off their monthly rent for each kilogram they lose while living in the house.
The monthly rent charged to each tenant is calculated by how much they each weigh. For every 1 kg, you are charged 1,000 Yen/month in rent. Lose weight, and your rent goes down. The landlord, Broad Enterprise, believe this might be the first of its kind in the world.Read more
Rent a house in a UNESCO World Heritage area for just 10,000 Yen/month
A 88-year old house in Gokayama has been listed for rent at just 10,000 Yen/month (127 USD) in a bid by Nanto City to entice families to the area.Read more