Japan’s Real Estate Sector Targets Short-Term Condo Flipping

TOKYO, Nov 19 (News On Japan) - The Real Estate Companies Association of Japan has drafted a policy that would prohibit the resale of condominium units before they are handed over to buyers, an effort aimed at curbing speculative short-term flipping that has been cited as one factor behind the sharp rise in condominium prices.

The policy, however, does not carry binding force, leaving decisions on implementation and the establishment of penalties for violations to individual companies. Some member firms have already been notified of the plan, and the association is expected to make the policy public as early as next week.

Source: テレ東BIZ

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