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At the beginning of the new year, Minister of Land, Infrastructure, Transport and Tourism Kazuyoshi Akabane held a conference and talked about the impact of the consumption tax hike on the housing market, existing housing distribution, land with unknown owners, and the Construction Career Up System (CCUS).
With the major event of the Tokyo Olympics approaching, with a review of the basic plan for living life and the long-term excellent housing system, Minister Akabane will enter a new era four months after taking office.
He described his thoughts on MLIT, including touching on the need for new detached houses in a strong market for 2020.
――About the impact of the consumption tax hike on the housing market
When it rose from 5% to 8%, the reactionary decline lasted longer than the last-minute demand. We thought that we should not repeat it again, and we heard carefully from related organizations, including the Association of Housing Production Organizations.
As a result, we have extended the mortgage tax cut, increased housing benefits, and created a next-generation housing point system, but I think that it is highly regarded by the industry. However, there are places where the point system may not be known yet. Since the point system is not over, house makers may play a central role, but since the country has a considerable budget, it is important to use it because it is a system that was created with great care and advertising.
Although there are various evaluations, we recognize that there is not as much reaction as 8%. However, I think we need to keep track of trends.