A: This is decided by Building Standards Law in Japan. There are 3 conditions for land to become "non-rebuilt land": land is not adjacent to registered street, the front street does not have 4 meter width, or over 2 meter of land is not adjacent to registered street.
Please know that this only mean that constructing newly built house is not possible. Renovation will be possible.
Advantage will be that real estate appraisal value will be low. This makes the real estate price reasonable for customers to purchase. Also, the real estate tax and acquisition tax will be lower compared to others.
Disadvantage will be that purchaser will not be able to get mortgage to purchase the real estate. This is the same when selling to next prospective purchaser.
I often see the phrase "non-rebuilt land", but how is this decided? Any advantage? disadvantage?