The limited-term
lease system, which had
been anticipated in the
Japanese rental market,
was established on December
9, 1999 under the Law
on Special Measures Concerning
the Supply of Quality
Rental Housing, along
with the bill to revise
the Land and Housing Lease
Act. The Special Measures
law became effective on
March 1, 2000.
The introduction of the
limited-term lease system
will provide significant
relief from the longstanding
complaint of overseas
investors that Japanese
lease contracts do not
conform to international
business norms. This revised
law is certain to be a
turning point in the improvement
of the Japanese real estate
investment market.
This market report describes
the expected changes in
the real estate investment
market due to the introduction
of the limited-term lease
system, in light of the
historical background
of lease contracts in
Japan, and discusses new
business opportunities
in the real estate investment
market. |
