We present the desirable tax reform on the property tax on land and housing in Japan. Since the property tax on housing, building, and equipment becomes an obstacle to the capital formation on land, it should be abolished. Conversely, the effective rate of property tax on land should be increased so as to attain the revenue neutrality for local government. The abolition of tax on housing induces the higher land price which can bear the increase in the property tax on land, so that such a tax reform would benefit all individuals.
{"title":"The Optimal Reform About Property Tax","authors":"Fukuju Yamazaki","doi":"10.5736/JARES.31.4_97","DOIUrl":"https://doi.org/10.5736/JARES.31.4_97","url":null,"abstract":"We present the desirable tax reform on the property tax on land and housing in Japan. Since the property tax on housing, building, and equipment becomes an obstacle to the capital formation on land, it should be abolished. Conversely, the effective rate of property tax on land should be increased so as to attain the revenue neutrality for local government. The abolition of tax on housing induces the higher land price which can bear the increase in the property tax on land, so that such a tax reform would benefit all individuals.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124880722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, we evaluated the premium rent of refurbished apartment houses in Greater Tokyo. We found that as a residential building’s age increased, the premium rent decreased. Male tenants in the age group of 20–30 years showed the highest willingness to pay (WTP). In addition, a high degree of residential satisfaction and the sense of expense toward rent had negative effects on the WTP toward premium rent.
{"title":"Study on Premium Rent of Refurbished Apartments Based on Bayesian Modeling Using Stated Preference Data of the Tenants","authors":"Hiroaki Komatsu","doi":"10.5736/JARES.31.3_110","DOIUrl":"https://doi.org/10.5736/JARES.31.3_110","url":null,"abstract":"In this study, we evaluated the premium rent of refurbished apartment houses in Greater Tokyo. We found that as a residential building’s age increased, the premium rent decreased. Male tenants in the age group of 20–30 years showed the highest willingness to pay (WTP). In addition, a high degree of residential satisfaction and the sense of expense toward rent had negative effects on the WTP toward premium rent.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131693964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The problem of land with unknown ownership is becoming increasingly evident with Japan’s declining population, low birth rate and aging population. This paper examines the need for the titling system using perspectives from economics and considers what sorts of titling system works for which types of society and looks at ways to deal with the problem of land with unknown ownership. A series of previous researches such as Miceli et al. (Eur J Law Econ 6:305–323, 1998; J Urban Econ 47:370–389, 2000) categorize the titling systems used in many advanced countries as either registration systems or recording systems. In terms of broad categorization Japan’s titling system is categorized as a recording system. However, since the details of registered information are confirmed through various registration procedures, the system also has aspects that resemble a registration system. This can be interpreted as having selected the titling system’s strength that considerably lowers the level of litigation risk. In that case, transaction costs become very high. This could be the cause of the excessively small current level of Japanese real estate transactions. Furthermore, the result of selecting the recording system in Japan, which is a system with a very high strength, could explain why nobody takes insurance to cover the risk of title litigation. In Japan, it is highly likely that the full-fledged population decline, low birth rate and aging population will lower the profitability of land. In that case, a titling system with low strength is likely to be the best for society as indicated in the analysis above.
随着日本人口的减少、低出生率和人口老龄化，土地所有权不明的问题日益明显。本文从经济学的角度考察了产权制度的必要性，并考虑了哪种类型的产权制度适用于哪种类型的社会，并探讨了处理所有权不明的土地问题的方法。先前的一系列研究，如Miceli et al. (Eur J Law economics 6:305-323, 1998;[J]《城市经济研究》，2000)将发达国家的产权制度分为登记制度和记录制度。就广义的分类而言，日本的产权制度被归类为记录制度。但是，由于登记信息的细节是通过各种登记程序确认的，因此该制度也有类似于登记制度的方面。这可以解释为选择了大大降低诉讼风险水平的所有权制度的优势。在这种情况下，交易成本变得非常高。这可能是目前日本房地产交易规模过小的原因。此外，在日本选择备案制度的结果，这是一个非常高的制度，可以解释为什么没有人购买保险来覆盖所有权诉讼的风险。在日本，人口全面减少、低出生率和高龄化很有可能降低土地的收益性。在这种情况下，如上述分析所示，低强度的职称制度可能是对社会最好的。
{"title":"The Efficiency of the Titling System: Perspectives of Economics","authors":"Masayuki Nakagawa","doi":"10.5736/JARES.31.3_31","DOIUrl":"https://doi.org/10.5736/JARES.31.3_31","url":null,"abstract":"The problem of land with unknown ownership is becoming increasingly evident with Japan’s declining population, low birth rate and aging population. This paper examines the need for the titling system using perspectives from economics and considers what sorts of titling system works for which types of society and looks at ways to deal with the problem of land with unknown ownership. A series of previous researches such as Miceli et al. (Eur J Law Econ 6:305–323, 1998; J Urban Econ 47:370–389, 2000) categorize the titling systems used in many advanced countries as either registration systems or recording systems. In terms of broad categorization Japan’s titling system is categorized as a recording system. However, since the details of registered information are confirmed through various registration procedures, the system also has aspects that resemble a registration system. This can be interpreted as having selected the titling system’s strength that considerably lowers the level of litigation risk. In that case, transaction costs become very high. This could be the cause of the excessively small current level of Japanese real estate transactions. Furthermore, the result of selecting the recording system in Japan, which is a system with a very high strength, could explain why nobody takes insurance to cover the risk of title litigation. In Japan, it is highly likely that the full-fledged population decline, low birth rate and aging population will lower the profitability of land. In that case, a titling system with low strength is likely to be the best for society as indicated in the analysis above.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129811643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abandoned and unclaimed land has emerged as a major policy issue in Japan, where the population is dwindling and property values are falling in many areas, including big cities. This article analyzes this alarming issue using the results of a nationwide survey conducted by the author targeting 1719 local authorities, which revealed a disconnection between the existing landownership system and rapid demographic change. Policy initiatives are needed to address three basic challenges, namely, how to get people to register title transfers when they inherit real estate; how to protect and manage land that has no immediate prospect for use; and how to improve the data collection and management infrastructure.
{"title":"Realities and Challenges of Land Issues in the Era of Depopulation","authors":"Shoko Yoshihara","doi":"10.5736/JARES.31.3_79","DOIUrl":"https://doi.org/10.5736/JARES.31.3_79","url":null,"abstract":"Abandoned and unclaimed land has emerged as a major policy issue in Japan, where the population is dwindling and property values are falling in many areas, including big cities. This article analyzes this alarming issue using the results of a nationwide survey conducted by the author targeting 1719 local authorities, which revealed a disconnection between the existing landownership system and rapid demographic change. Policy initiatives are needed to address three basic challenges, namely, how to get people to register title transfers when they inherit real estate; how to protect and manage land that has no immediate prospect for use; and how to improve the data collection and management infrastructure.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126370869","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper discusses the application of discriminant analysis on real estate data as a feasible estimation method for condominium reconstruction. The proposed method was used in order to verify its prediction capacity managing data from the real estate and resulting in 89.4% accuracy. This method revealed and highlighted the structure of four explanatory variables in terms of prediction impact. Further, it has been clarified that only three out of these four explanatory variables mentioned above were selected and constantly used in order to explain each analytical model.
{"title":"Feasibility Evaluation for Condominium Reconstruction by Means of the Application of Discriminant Analysis on Real Estate Data","authors":"Toshihiro Hanazato","doi":"10.5736/JARES.31.3_119","DOIUrl":"https://doi.org/10.5736/JARES.31.3_119","url":null,"abstract":"This paper discusses the application of discriminant analysis on real estate data as a feasible estimation method for condominium reconstruction. The proposed method was used in order to verify its prediction capacity managing data from the real estate and resulting in 89.4% accuracy. This method revealed and highlighted the structure of four explanatory variables in terms of prediction impact. Further, it has been clarified that only three out of these four explanatory variables mentioned above were selected and constantly used in order to explain each analytical model.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125858909","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Location normalization plans that are currently being established across the country encourage a loose approach to land utilization guidance by establishing the areas where urban function guidance and residential guidance apply. We will consider some hints as to how to proceed with urban downsizing by looking back at how urban areas expanded during the period of population growth. It is important that the characteristics and roles of each transport system are reorganized and that they are skillfully incorporated into cities. In particular, the formation of transfer points between main line transport systems and branch line transport systems is a key to the formation of compact cities.
{"title":"Compact City Corresponding to the Advanced Transport Systems","authors":"Akinori Morimoto","doi":"10.5736/JARES.31.2_60","DOIUrl":"https://doi.org/10.5736/JARES.31.2_60","url":null,"abstract":"Location normalization plans that are currently being established across the country encourage a loose approach to land utilization guidance by establishing the areas where urban function guidance and residential guidance apply. We will consider some hints as to how to proceed with urban downsizing by looking back at how urban areas expanded during the period of population growth. It is important that the characteristics and roles of each transport system are reorganized and that they are skillfully incorporated into cities. In particular, the formation of transfer points between main line transport systems and branch line transport systems is a key to the formation of compact cities.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"146 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132484485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, I will introduce the types of real estate tech services already provided in Japan and give concrete examples, as well as explain the real estate crowdfunding, which is attracting particular attention, including laws and regulations. I will also discuss the legal issues in the use of data and personal information that are expected to arise in real estate tech services in the future.
{"title":"The Overview and Legal Issues Regarding Real Estate Tech","authors":"Haruo Narimoto","doi":"10.5736/JARES.31.1_36","DOIUrl":"https://doi.org/10.5736/JARES.31.1_36","url":null,"abstract":"In this paper, I will introduce the types of real estate tech services already provided in Japan and give concrete examples, as well as explain the real estate crowdfunding, which is attracting particular attention, including laws and regulations. I will also discuss the legal issues in the use of data and personal information that are expected to arise in real estate tech services in the future.","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"145 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127594163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-4-431-55221-5_3
H. Kohno, Y. Higano
{"title":"Generalized Benefit–Cost Criteria: Public Investment Criteria When Benefits Are Previously Measured","authors":"H. Kohno, Y. Higano","doi":"10.1007/978-4-431-55221-5_3","DOIUrl":"https://doi.org/10.1007/978-4-431-55221-5_3","url":null,"abstract":"","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115726531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-981-16-0885-8_3
K. Ikeshita
{"title":"Political Economy of Patent Policy and Economic Growth","authors":"K. Ikeshita","doi":"10.1007/978-981-16-0885-8_3","DOIUrl":"https://doi.org/10.1007/978-981-16-0885-8_3","url":null,"abstract":"","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"161 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120928984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-981-33-4404-4_7
Farhat Tasnim
{"title":"Conclusions","authors":"Farhat Tasnim","doi":"10.1007/978-981-33-4404-4_7","DOIUrl":"https://doi.org/10.1007/978-981-33-4404-4_7","url":null,"abstract":"","PeriodicalId":394495,"journal":{"name":"New Frontiers in Regional Science: Asian Perspectives","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124842568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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