国土交通省 – 改正宅地建物� �引業法の施行� ��向けて参考資 料.pdf

Ministry of Land, Infrastructure, Transport and Tourism aims to create a market environment where real estate transactions can be conducted with confidence by promoting the use of building inspections (inspections) by professionals. The "Act on Revision of the Act on Land and Building Transactions" was promulgated on June 3, 2016, and its key points include:

1. Enhancing information provision in existing building transactions:
- Existing home transaction market share in Japan is low compared to Western countries.
- Promoting existing home transactions can have economic effects and improve living conditions.
- Buyers are often anxious about the quality of existing homes, and sellers may not provide sufficient information.

2. Ensuring relief for consumers who have suffered damage from real estate transactions:
- Excluding land and building transaction businesses from the scope of payment for business guarantee deposits and settlement guarantee deposits.
- Requiring industry organizations to make efforts to provide systematic training for their employees.

3. Implementing training for land and building transaction businesses:
- Requiring industry organizations to provide training for their employees.

The law will be enforced in two stages:
- April 1, 2017, for provisions related to relief for consumers who have suffered damage and training for land and building transaction businesses.
- April 1, 2018, for provisions related to enhancing information provision in existing building transactions.

The government has also established guidelines for existing home inspections, which include:
- Ensuring the technical capabilities of inspectors.
- Specifying the items and methods of inspection.
- Promoting appropriate services.

The guidelines aim to promote the use of inspections and provide consumers with accurate information about the condition of existing homes.

Additionally, the government has introduced existing home warranty insurance, which covers repair costs for defects found in existing homes. The insurance aims to provide relief for consumers who have suffered damage from real estate transactions and promote the use of inspections.

The insurance covers:
- Repair costs for defects found in existing homes.
- Investigation costs.
- Temporary housing costs.

The insurance period is one or five years, and the insurance amount is 5 million or 10 million yen. The deductible is 500,000 yen, and the reimbursement rate is 100%. The premium varies depending on the insurance product and period.

The inspection for the insurance covers:
- Structural integrity.
- Water leakage.
- Equipment and piping.

The inspection is conducted by a registered inspection business operator, and the result is used to determine the insurance premium and coverage.

The government aims to increase the market size of existing home transactions and promote the use of inspections and warranty insurance. The target is to increase the market size from 4 trillion yen in 2013 to 8 trillion yen in 2025 and to increase the percentage of existing home transactions with inspection and warranty insurance from 5% in 2014 to 20% in 2025.