In order to solve a Problem of “Owner-Unknown Land”, Local Government should decide priorities of the tasks. From perspective of medium- and long- term, Land Survey and foundation of Land Bank are beneficial. In contrast, eliminating the factors of external diseconomy is an urgent issue.

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This paper describes how and why owner unknown lands have been increasing in Japanʼs shrinking population and proposes some ideas on the solution to the relating legal issues.

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The increase of land plots with unknown owners, that is, land plots whose owner's name and address are not easily identifiable through repeated inheritance etc., emerges as an imminent social issue. The big reason of this phenomena is the civil code which unconditionally allows sharing of real estate by unlimited number of joint owners, for one thing, and the registration system of real estate which does not require the true owner to register and thus does not show real rights of real estate, for another. To reduce the increase of land plots with unknown owners as a proactive measure and to utilize them as a reactive measure, it is necessary to set up the one-owner principle with the ban of the sharing of real estate even through inheritance, to ablish fixed asset tax on buildings and houses, to require the new owner of real estate to register the right upon the transfer of ownership and for the registration office to make it public, to amend the Land Expropriation Act to facilitate the purchase of the land plots for public purpose without the owner identification, to create the institutional arrangement which allows to fictionally replace the will of the owner, to amend the civil code to allow the disposal of shared real estate by the majority of the joint owners.

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Legal measures to deal with the issues of “owner-unknown land” are limited to taking certain actions to remove urgent risks on the owner-unknown land or to ask family court for appointing administrators of that land in the current civil law of Japan. Legal reforms are necessary to improve the management of, to reduce the accumulation of, and to prevent the increase of the ownerunknown land by combining civil law measures with public law measures under the basic land policies in Japan to be identified as the promotion of public involvement.

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Abandoned and unclaimed land has emerged as a major policy issue in Japan, where the population is dwindling and property values are falling everywhere but in the big cities. This article analyzes this alarming issue using the results of a nationwide survey conducted by the author targeting 1,719 local authorities, which revealed a disconnect between the existing land ownership system and rapid demographic change. Policy initiatives are needed to address three basic challenges, namely, how to get people to register title transfers when they inherit real estate; how to protect and manage land that has no immediate prospect for use; and how to improve the data collection and management infrastructure.

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Unknown owner land is a land that the owner does not immediately find out or it cannot be contacted to the owner even if known by the owner ledger such as the real estate register. It is one of the factor that increases transaction costs. I analyzed land registration system and cadastral survey from the viewpoints of law and economics.

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The Land Acquisition （Amendment） Act of 1991 in Malaysia for economic growth has institutionally enabled arbitrary land acquisition. This paper reveals what is the fundamental determinant of the negative effects on the legal system concerning land acquisition for economic growth. As a result of this study consideration, the article of property rights within the limits of the law enables governments to have a broad discretionary power and liberalizes policies governments can implement. However, this study concludes policies that make light of personal assets will obstruct economic growth in the long run.

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In this study, we evaluated the premium rent of refurbished apartment houses in Greater Tokyo. We found that as a residential buildingʼs age increased, the premium rent decreased. Male tenants in the age group of 20-30 years showed the highest willingness-to-pay （WTP）. In addition, a high degree of residential satisfaction and the sense of expense toward rent had negative effects on the WTP toward premium rent.

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This paper discusses the application of discriminant analysis on real estate data as a feasible estimation method for condominium reconstruction. The proposed method was used in order to verify its prediction capacity managing data from the real estate and resulting in 89.4% accuracy. Additionally, this method revealed and highlighted the structure of four explanatory variables in terms of prediction impact. Further, it has been clarified that only three out of these four explanatory variables mentioned above were selected and constantly used in order to explain each analytical model.

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