Sakishima, a man-made island in Osaka Bay, will soon get its first condominium in over 8 years.
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The owner of the Watanabe Residence in Osaka’s Yodogawa-ku has had the historical listing cancelled as he plans to demolish the home and sell the land in order to pay a high inheritance tax bill.
The current owner inherited the house two years ago and has not been able to pay the inheritance taxes on the property. An application was made to Osaka’s Board of Education to remove the listing, so that the property could be razed and sold. The Board of Education said they often receive applications to remove listings due to fire and other damage, but it is rare to receive a request due to difficulty paying taxes.
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The most expensive neighborhoods in the Kansai area are typically considered to be Ashiya and Kurakuen, both in Hyogo Prefecture.
However, according to the kouji-chika land assessment values, the most expensive residential land in Kansai is in the Shinpoincho area in Osaka’s Tennoji-ku.
Shinpoincho has been in the number one spot for the past eleven years, yet remains relatively unknown as it does not have the same name recognition as the Ashiya, Tezukayama or Nara’s Gakuenmae neighborhoods.
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Osaka City is planning to increase the building height restrictions alongside their landmark Misouji avenue, in the hope to create a cityscape similar to Manhattan.
The current maximum building height alongside Midosuji is 50 meters, but the city is considering lifting the limit to 200 meters by as early as 2013. The new height limit would include office buildings, apartments, education and research institutions. The city is also considering a plan to completely ban cars from the street and turn it into a park, although that is not planned for another 40 years.
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