The infrastructure ministry says it plans to promote the conversion of office buildings in urban centers into public rental housing units in order to cope with a shortage of high-quality apartments.
The move is also aimed at dealing with the so-called year 2003 problem, in which major cities are predicted to face a glut of new office buildings, officials said.
The Land, Infrastructure and Transport Ministry will seek a budget appropriation for fiscal 2003, which begins April 1, to expand a subsidy program and offer tax breaks for such conversions.
The ministry will also seek amendments to the building code.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.