Tax saving's rental housing is mushrooming.
$B@a@GDBB_=;Bp$,MpN)!"%j%9%/$,A}Bg!J1Q8lHG!K(BTax saving's rental housing is mushrooming.
Japan's housing market is an obvious oversupply. Although, the population is continued to
decline, the continued supply of new homes reaches up to 100million each year. Now,
the number of total units of housing is much greater than the 60 million units, which is more
than the entire sum of households in the country.
Based on 2012 data from the National Institute of Population and Social Security Research,
Japan's population will keep declining by about one million people every year in the coming
decades, which will leave Japan with a population of 86 million in 2060. By that time,
more than 40% of the population is expected to be over age 65. In 2012, the population had
for six consecutive years declined by 212,000, the largest drop on record since 1947, and
also a record low of 1.03 million births. In 2014, a new record of population drop happened
with 268,000 people.
Despite the fact of the decline population, the government has been encouraging to build
a new house and condominium, since a high economic effect, which includes the construction
and real estate industries. As priming, Japanese government offered tax breaks of an incentive
of tax, including inheritance tax, mortgage. These incentive packages led a great promotion
to build a rental house or condominium, without pay attention to the actual demand.
As a result, there were 8.2 million vacant houses in 2013. In Tokyo, a building boom for a rental
purpose is still underway, as of November 2015, although the fact that an empty room has
been increasing steadily.
Japan is now in the era of population decline.
Population distribution chart by age, in 2015 and 2060 prediction in Tokyo
Crisis emerged that both Tookyo and localities will fall in population together and became short of tax revenue.
Picture source: NHK September 25, 2016
The movements to build and purchase rental-housing as a part of investment have been very
active for the purpose saving taxes, since it became easy to borrow funds due to the large decline
in interest rates due to the negative interest rate policy by the central bank. However, in Tokyo
and many other cities, vacancy rate of rental property ( houses, rooms and offices ) has
been increasing in the significant degree. The bank of Japan now warns of the occurrence of
Nobody can destroy the inherent natural beauties of the earth.
Japan government aims to keep the population at 100 million in 2060s.
No Government personals should visit to Yasukuni.
The article was written by DrJayMic.
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