TOKYO -- Japan is considering letting homeowners take a mortgage tax break for up to five more years from the current 10-year plan, Nikkei has learned, in a bid to keep homebuying demand steady after next year's consumption tax hike.
Purchases of new homes are subject to the 8% consumption tax. The rate is slated to rise to 10% in October 2019, which could spark a flurry of demand ahead of the increase, followed by a drop-off afterward.
