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  • Writer's pictureAdam German

Public housing subsidy for Japan investment property owners announced

On April 3rd, the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced a call for applications for the Fiscal Year 2024 Housing Renovation Project for Housing Provision Consideration recipients. 

  

This initiative aims to support via subsidization private sector entities that renovate existing private rental housing, akiya properties etc, to create housing specifically for tenants requiring some type of housing assistance. 

  

Eligible renovation projects include one or more of the following:  


(1) Barrier-free renovations (including external layout modifications for accessibility)  


(2) Seismic reinforcement works 


(3) Renovations and layout changes to create shared living spaces 


(4) Renovation works to accommodate households with children (including the establishment of childcare support facilities) 


(5) Fire prevention and firefighting measures 


(6) Installation of communal spaces 


(7) Energy-saving renovations 


(8) Renovation of facilities for confirming safety 


(9) Soundproofing and noise reduction works, among others 

  

The subsidy rate and maximum amount are set at one-third of the renovation costs (up to 500,000 yen per unit).  

 

Applicants must register their housing as exclusively for tenants requiring housing assistance and ensure that the rent is below the MLIT mandate for public housing. 

  

The deadline for applications is February 14, 2025.  

 

For detailed application procedures, refer to the application website.  The application criteria is on the Japanese version of the website only.

 

Source: 

R.E. Port News (Japanese only) 

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