Kyoto eyes empty homes tax to stem exodus of young people

Politics Economy

The western Japan city of Kyoto plans to introduce a tax on empty homes and holiday houses to boost the property market amid an exodus of young people struggling to secure housing. The new tax, the first of its kind in Japan according to the city, will target around 13,000 to 15,000 unoccupied residences in the historical city, but it will exclude traditional townhouses known as "machiya" that are popular among foreign tourists. A draft ordinance to introduce the new tax in Kyoto was submitted Thursday to the city council. It is expected to be passed at a regular assembly session by the end of...

Kyodo News

Kyodo News