• Kyodo

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The city of Kyoto plans to introduce a tax on empty houses and holiday homes to boost the property market amid an exodus of young people struggling to secure housing.

The new tax — the first of its kind in Japan, according to the city — will target around 13,000 to 15,000 unoccupied residences in the historic city, but will exclude traditional townhouses, known as machiya, that are popular among foreign tourists.

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