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For the Japanese, 2010 is shaping up as a golden opportunity to purchase homes. The year is characterized by its continuation of last year's tax reductions on housing loans, the highest reductions in the nation's history. For general home purchases, taxes will be lowered as much as ¥5 million over a 10-year period. For durable highquality housing purchases, this 10-year tax break will go even further, to ¥6 million. In addition, the tax exemption bracket applied to capital transfer tax (gift tax) was expanded from ¥5 million to ¥15 million, rendering it far easier for those in the home purchase generation to raise capital to buy residences. With regard to mortgage interest rates, the low interest rates for such borrowing continue to be in effect. For these reasons, demand for both houses and apartment units is predicted to increase in the current year.
The Japanese government will launch the “Housing Eco-Point System” in 2010. Under this system, people who remodel their homes to make them more energy efficient will be issued “eco-points” for the full value of the remodeling on condition that the actual work starts by December 31, 2010. Examples of such remodeling include improving the thermal insulation of windows (by installing interior windows, restructuring outer windows, and/or replacing window glass), outer walls, roofs, ceilings, and floors; making barrier-free modifications; and initiating other projects. Homeowners may exchange eco-points for various products. The “Housing Eco-Point System” will cover not only the remodeling of existing structures but also the building of eco-friendly homes. The majority of businesses and others in the housing industry believe that the “Housing Eco-Point System” is destined to help boost remodeling demand.
JHBS2010 exhibitors' page (closed)
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