Powered by Blogger.

Now Time to Buy in Japan, Analysts Say

Reports of a new consumption tax may spur a rush to buy homes in Japan, some experts predict.

The increase in consumption tax could add thousands of yen to the price of a home, the Japan Times reports.

Tokyo, Japan
"Because the consumption tax -- which applies to new homes but not to land -- is levied when the buyer takes possession of the property, experts are expecting a rush on new homes by the end of the summer," the newspaper said in an article this week.

The new tax would add 600,000 yen to the price of a 45 million new home, the paper estimates.

New incentives for home purchases may offset the tax increase, but it is certainly not good news for Japan's housing market. Home prices in Japan dropped steadily after 2010, but reportedly steadied in the latter part of 2012.

  • Digg
  • Del.icio.us
  • StumbleUpon
  • Reddit
  • RSS


Post a Comment