Kyoto City's 'akiya' vacant home tax approved
Kyoto City’s plan to tax owners of vacant homes was approved by the Ministry of Internal Affairs and Communications in March, which means some ‘akiya’ or unoccupied homes will come with an additional annual tax. The new tax will not be imposed immediately - it may start in the 2026 fiscal year - and will not be applied to all vacant homes.Read more
More details on Kyoto’s new building height rules
The city of Kyoto is planning to relax building height limits on the southern side of Kyoto Station in an effort to attract more office and residential development.
Togo Murano-designed hotel in Kyoto to close its doors
Hotel Rubino Kyoto Horikawa will permanently close next March as the prolonged pandemic takes its toll. The hotel was designed by iconic modernist architect Togo Murano and opened in 1972.
Less than 3% of Kyoto's machiya avoid demolition
A recent attempt by Kyoto City to save its historic machiya townhouses has only resulted in 5 out of 170 properties avoiding demolition. Back in 2016, a survey found that as many as 800 traditional machiya townhouses in Kyoto were being demolished each year. With an estimated 40,000 machiya in the city, they could vanish within the next 50 years, leaving no trace of the city’s merchant past.
Foreign investors find Kyoto real estate cheap
According to the Kyoto Shimbun newspaper, offshore investors are out in force buying up real estate in Kyoto, with property prices in the historic city considered comparatively inexpensive.
Capella Kyoto to open in 2025
On July 5, NTT Urban Development Corporation announced a management agreement with Capella Hotels & Resorts to open Capella Kyoto in the Higashiyama district.
Japan's rosenka land values increase after 2 years
This year’s rosenka land tax values were released by the National Tax Agency on July 1, and it’s been a mixed bag with some areas seeing gains and others losses.