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▼ Tokyo Government Considering Fund For Housing Support
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The Tokyo Metropolitan Government is considering establishing a fund for housing support for the middle class at a time when condominium prices in central Tokyo are soaring, informed sources have said.
The Tokyo government aims to include related expenses in its initial budget proposal for fiscal 2025, starting in April, according to the sources.
A survey by the Real Estate Economic Research Institute showed that the average price of newly built condominiums in Tokyo's densely populated 23 wards has topped ¥100 million.
The situation makes it difficult for the child-rearing generation to secure large houses in Tokyo, causing "preschoolers and their parents to move out (of the capital)," a metropolitan government official said.
Tokyo Gov. Yuriko Koike pledged during the campaign period for the gubernatorial election in July to strengthen measures to address the issue.
The metropolitan government is considering an affordable housing policy, like the ones promoted in the United States and Europe, to make it easier for middle-income earners to secure a place to live in Tokyo.
The planned fund will provide necessary financial aid for private businesses to develop affordable housing.
While the specific scale, start date and other details of the program will be worked out later, the metropolitan government plans to encourage companies focusing on corporate social responsibility to invest in the fund together.
As a means of curbing housing prices, business operators are expected to secure profits by renting out parts of condominiums built as affordable housing to retailers and offering the upper floors to high-income earners.
The metropolitan government hopes to take the lead in establishing a fund procurement system to support the development of affordable housing.
The Tokyo government aims to include related expenses in its initial budget proposal for fiscal 2025, starting in April, according to the sources.
A survey by the Real Estate Economic Research Institute showed that the average price of newly built condominiums in Tokyo's densely populated 23 wards has topped ¥100 million.
The situation makes it difficult for the child-rearing generation to secure large houses in Tokyo, causing "preschoolers and their parents to move out (of the capital)," a metropolitan government official said.
Tokyo Gov. Yuriko Koike pledged during the campaign period for the gubernatorial election in July to strengthen measures to address the issue.
The metropolitan government is considering an affordable housing policy, like the ones promoted in the United States and Europe, to make it easier for middle-income earners to secure a place to live in Tokyo.
The planned fund will provide necessary financial aid for private businesses to develop affordable housing.
While the specific scale, start date and other details of the program will be worked out later, the metropolitan government plans to encourage companies focusing on corporate social responsibility to invest in the fund together.
As a means of curbing housing prices, business operators are expected to secure profits by renting out parts of condominiums built as affordable housing to retailers and offering the upper floors to high-income earners.
The metropolitan government hopes to take the lead in establishing a fund procurement system to support the development of affordable housing.
- 8/12 20:27
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