Redevelopment Based on Reserved Floor Sales: Limitations and Directions for Legal Reform

Abstract

In Japan, approximately one million condominium units fail to meet current seismic standards. Rebuilding efforts have traditionally relied on unused floor-area ratio （FAR） to ease the financial burden on owners. However, as surplus FAR becomes unavailable and construction costs rise, viable regeneration strategies are increasingly difficult　to implement. This paper examines a legal framework that facilitates the revitalization of aging condominiums by enhancing their market value and enabling regeneration through sale.