Tokyo, Japan – The Tokyo Metropolitan Government is exploring the establishment of a dedicated fund aimed at providing housing support for middle-income earners. This move comes as rising condominium prices in central Tokyo have made it increasingly difficult for many residents to secure affordable housing.
Addressing the Housing Crisis
Governor Yuriko Koike, who pledged to strengthen housing support measures during her recent re-election campaign, has indicated that the government is considering an affordable housing policy similar to those implemented in the United States and Europe. The proposed fund would provide financial assistance to private businesses developing affordable housing projects.
Key Points
- Target Group: Middle-income earners struggling to afford housing in Tokyo.
- Fund Allocation: The Tokyo government plans to include the necessary funds in its initial budget proposal for the fiscal year 2025.
- Policy Inspiration: The government is looking to international models of affordable housing to inform its approach.
- Private Sector Involvement: The fund will support private businesses in developing affordable housing units.
This initiative represents a significant step towards addressing the growing housing affordability crisis in Tokyo. By providing targeted support to middle-income earners, the government aims to ensure that a diverse range of residents can continue to call the city home.
Sources and related content: https://www.japantimes.co.jp/news/2024/12/07/japan/society/tokyo-fund-housing-support/#:~:text=A%20residential%20area%20of%20Tokyo,large%20houses%20in%20the%20capital.&The%20Tokyo%20Metropolitan%20Government%20is,April%2C%20according%20to%20the%20sources.
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