Japanese authorities say they’re ready to rent Tokyo’s apartments to foreign buyers

Tokyo has offered to rent apartments in its downtown core to foreign investors, a move aimed at helping revive a battered economy and reinvigorate a struggling manufacturing sector.

Officials said the offer was made during a meeting on Monday with foreign investors in Tokyo and was intended to help the city rebuild its business and housing sectors, as well as ease some of the strain on its pension funds.

The move would also help revive the Japanese economy, which has shrunk by 4.2 percent this year, according to the Nikkei business daily.

Tokyo is one of a number of Asian capitals that has offered big-ticket residential projects to foreign companies seeking to buy up property.

In the United States, Tokyo offers to rent to Chinese developers for about $300 million, and in Europe, it rents apartments to developers in Amsterdam.

But Tokyo’s offer to foreigners was seen as more radical because it was aimed at bolstering the economy, rather than just helping build the city’s downtown area.

A spokesman for the city government said the plan was “still in the preliminary stages” and the plan would be finalized in the next few days.

“I’m sure it will be something that will attract more foreign investment, but for now it’s just a plan for the future,” said Masanobu Kato, a professor of urban planning at the University of Tokyo.

“The government’s policy of offering to rent is a new approach to helping Japan revive the economy.”

Kato said the city would need to make some concessions to foreign developers, including offering a lower rental rate and an end to the requirement that they sell apartments in the central business district.

But he said the government should also work to raise the minimum rental level to make it easier for companies to attract investors, as the government plans to introduce a new tax to raise about 2 trillion yen ($22.5 billion) over 10 years.

“We’ll try to help foreign investors to come to Japan and build apartments in Tokyo.

It’s not that we don’t want them to do that, but we’re not doing it to attract them, we’re doing it for the sake of the economy,” Kato said.

Tokyos offerThe city said it plans to build about 5 million new apartments, about half of them in the core of the city.

That would be the first step toward making the area a “supermarket of sorts” for foreign investors and their families.

“This will be a catalyst for growth,” said Yoshihide Kawamura, a spokesman for Tokyo’s municipal government.

The plan comes amid a slowdown in Japan’s economy that has brought economic and social pressures on its aging population and its aging infrastructure.

The country has been grappling with a slowdown that has left the nation saddled with a massive debt load, with the government facing pressure from voters to make drastic cuts to its bloated welfare state.

Katsumi Kato/AP”This has to be our priority,” said Yasuhiro Nakamura, an economist at the Institute for Policy Studies, an opposition think tank.

The government has also been grappling to attract foreign investors because of the economic crisis, but many companies have been reluctant to invest in the country because of fears of a sharp drop in sales and the possibility that foreign companies would lose jobs.

Kato has called for the government to loosen the rules that make it difficult for foreign firms to obtain Japanese visas.

In February, Tokyo’s top officials said they would be open to making a major concession to foreign investment if it would help ease the burden on the country’s pension funds, which have been forced to keep more of their funds abroad and pay much higher interest rates.

A government spokesman said on Monday that the government will also “make efforts to reduce” the amount of foreign companies that can apply for permits to open new buildings.

The proposal to rent the downtown area was not the first time Tokyo has tried to attract big-name foreign companies.

The city has previously offered to lease apartments to local developers who have built their own office towers and other developments.

But in recent years, Tokyo has been more cautious with its approach, and the city is still waiting for a new lease agreement to be signed.