The Housing Market and Housing Policies in Japan
Kobayashi, Masahiro | March 2016
Abstract
Housing policies in Japan after World War II were focused on the quantitative supply of houses with a wide range of targeted groups and public rental houses. The Japan Housing Corporation (now the Urban Renaissance Agency) and the Government Housing Loan Corporation (now the Japan Housing Finance Agency) have served to address these policy targets accordingly. The restoration of housing stock was successful, but the collapse of the property bubble in the early 1990s caused negative impact on the real economy and created persistent loss of confidence among the Japanese people, which is exacerbated by deflation and negative demographic factors (decrease of the population and aging of society). Enhancement of the quality of houses is an important part of the housing policy in Japan, but, at the same time, there needs to be a balance between new construction and the activation of existing housing stocks. Given the social experiments currently underway, there is need to closely monitor the changes of market trends.
Citation
Kobayashi, Masahiro. 2016. The Housing Market and Housing Policies in Japan. © Asian Development Bank Institute. http://hdl.handle.net/11540/9754.Keywords
Rural planning
Economic development
Economic indicators
Standard of living
Development projects
Development policy
Housing projects
Development models
Social reform
Urban planning
Public Borrowing
Credit Policy
Banks
Cultural Development
Development Economics
Development Issues
Financial Sector Development
Infrastructure Development
Urban Development Finance
Financing
Financial System
Financial Sector Reform
Financial Institution
Bank Financing
Real estate development
Housing development
Community banks
Mortgage banks
Housing policy
Tax administration and procedure
Real property and taxation
Property tax
Credit control
Banks and banking
Title companies
Tax deductions
Accounts
Savings
Inheritance and transfer tax
Trusts and trustees
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