• Kyodo

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Apartment construction is booming as the wealthy rush to invest in rental housing as a way to reduce inheritance tax and banks hand out easy mortgages, but concerns are mounting that excessive supply paired with a shrinking population could soon lead to the bursting of the bubble.

New starts on apartments and other rental housing in 2016 rose 10.5 percent from a year earlier to over 418,500 units, government data show. The figure took a dive after the 2008 global financial crisis but has risen for the past five years.

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