The Tokyo Metropolitan Government has begun making arrangements to establish a fund to promote the spread of “affordable housing,” which is affordable even for those with average incomes. As apartment prices in city centers soar, the government will strengthen housing support for the middle class. The aim is to include related expenses in the initial budget proposal for fiscal 2025. According to a survey by the Real Estate Economic Institute, housing prices in central Tokyo are soaring, with the average price of a new condominium in Tokyo’s 23 wards reaching the 100 million yen range. This has made it difficult for families with children to secure large homes within Tokyo, and is said to be “the reason why parents and preschool children are moving out of Tokyo” (Tokyo Metropolitan Government official). There have been voices raising concerns about the issue within the Tokyo Metropolitan Assembly, and Governor Koike Yuriko also pledged to strengthen measures in her campaign for the July gubernatorial election. Affordable housing is being promoted in large cities such as the United States and Europe, and the Tokyo Metropolitan Government has decided to continue its consideration of the issue in order to make it easier for people with average incomes to secure housing. The new fund will provide the necessary funding for private businesses to develop affordable housing. The specific scale, start date, and details of the system will be finalized in the future, but in addition to investment from the Tokyo Metropolitan Government, the plan is to encourage cooperation from companies that place importance on CSR (corporate social responsibility) and to utilize private funds. As a means of keeping prices down, private businesses are expected to secure profits by renting out part of the apartments built as affordable housing for commercial use or offering the upper floors to high-income earners. Because it is difficult to raise large amounts of funds, the Tokyo Metropolitan Government will take the lead in establishing a mechanism for securing funds to support the development of the facilities. Jiji Press, Interior Ministry, Published on December 8, 2024 at 12:29pm.
The more they do it, the more other problems will spread, such as crowded trains, waiting lists for children, a shortage of childcare workers, and overcrowding in nursing homes that will go bankrupt. It’s a really stupid policy in Tokyo. Are Tokyo residents really stupid?
>>11 The only people buying houses in Tokyo are couples who have married and earned 20 million yen a year, with both men and women earning 10 million yen a year. The days when only men were expected to earn 10 million yen a year are over. Women are trash unless they earn over 10 million yen a year.
One possible way to ensure profits is to offer the upper floors to high-income earners. It seems like they’re supporting the rich, but I feel like I could be deceived.
What’s the point of creating a fund? Will it become a breeding ground for amakudari? In Tokyo, if they crushed all the fake farms in Nerima Ward, Governor Koike’s home district, and opened them up as residential areas, they could cover demand all at once.
Are they going to do this when they know about the Canadian case? Foreigners are buying up all the housing prices, so they’ve been going up. Since a law was passed banning foreigners from buying houses, housing prices have been falling drastically. There’s no way they don’t know about this case. There must be money moving around behind the scenes. This story is seriously crazy.
>>25 I think Tokyo residents are stupid to sell even their crematoriums to Chinese people. If you’re poor, don’t try to look good by living in the city, but move to a more appropriate area.
The nearby housing complex and UR are full of foreigners. The city is giving subsidies to foreigners to start businesses, so it’s full of foreigners. And these subsidies don’t go to Japanese people at all.
The government is promoting the elimination of Tokyo’s overconcentration and encouraging people to move from Tokyo to other regions, so is it really okay to pursue the opposite policy of attracting people to Tokyo?
>>41 Come to think of it, they also had a policy of renting out government housing as cheap hotels for job-hunting students heading to the Tokyo area. If it was a dormitory in the capital it would be understandable, but it’s a country dormitory.
What will happen if we increase the population density any further? It will be difficult to maintain the city’s functions if infrastructure workers, store clerks, and service workers who work lower than the middle class are no longer able to live there.
I’m so glad I bought an apartment before the price went up. I bought it for about 80 million, and it’s gone up to almost 200 million lol. I’m so glad I wasn’t fooled by the idea that the price would crash after the Olympics.
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