ED
Productive green belt being converted to residential land
February 1, 2019, Tokyo, Japan - A patch of so-called "Productive Green Area" lies in the residential area of Tokyo's Nerima The Productive Green Area Law gives urban landowners a substantial property tax break in exchange for not developing their land or using their land commercially. However, the legal designation of most Productive Green Areas is set to expire in 2022, and now the government is looking at ways to prevent these swaps. However the legal designation of most Productive Green Areas is set to expire in 2022, and now the government is looking at ways to prevent these swaths from flooding the commercial real estate market and dragging down land prices. AYF -mis-
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ID
96620343
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License type
Editorial
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Creation date
08-02-2019
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