On the 10th, the Japan Housing Finance Agency announced the establishment of the "Flat 35 Child-Rearing Plus" program, which reduces interest rates based on the number of children, as part of the interest rate reduction system for "Flat 35".
This initiative is part of the comprehensive economic measures for complete deflation escape decided by the Cabinet on November 2, 2023, aimed at promoting measures against declining birth rates through the development of an environment where children can grow up healthy. If the fiscal 2023 supplementary budget is passed, the program will take effect from the date of announcement on the agency's website.
The "Flat 35 Child-Rearing Plus" program targets households raising children under 18 or young couples under 40, reducing interest rates nationwide based on the number of children. The range of interest rate reductions will expand from the previous maximum of -0.5% per annum to a maximum of -1% per annum.
The program allows for the combination with other interest rate reduction options such as "Flat 35 S", and eliminates the upper limit on total points. For example, a household with a young couple or one child, acquiring a Zero Energy House (ZEH) and a long-term excellent residence, can accumulate a total of 5 points: 1 point from Child-Rearing Plus, 3 points from S (ZEH), and 1 point from the maintenance and conservation type.
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”
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