Japan to trigger rebound in inner-city property prices

[TOKYO] Japan wants to trigger a jump in inner-city property prices by loosening building restrictions in test zones under Abenomics, a government adviser said.

"Central-city property prices will likely rise when various plans are announced," Tatsuo Hatta, 70, a member of a government council on special economic zones, said last week. The economic impact from the urban-planning changes will be "extremely big", he said.

Prime Minister Shinzo Abe is trying to sustain an economic rebound that risks losing steam in April when a sales-tax increase will damp consumer spending. While Mr Hatta's comments offer some insight into the government's plans for special economic zones, investors are still waiting for fuller details of Mr Abe's growth strategy in what Goldman Sachs Group calls a "critical year" for Abenomics.