Useful resources for foreign buyers interested in the Japanese property market.
Japan is a popular destination for foreign travellers and property investors alike. Tokyo in particular — as well as the ski resorts on the country's northernmost island of Hokkaido — bring in many visitors and buyers each year. However, buying property for the first time in any country can be daunting, even when there is no language barrier. REthink Tokyo has compiled some information to help people looking to buy in Japan.
Foreign buyers are able to own freehold property in Japan without restriction. This guide gives you an overview of the types of property ownership available, and the legislation related to property in Japan. Click here to read more.
Various types of properties are available to foreigners looking to rent in Japan, but it can be an expensive exercise. As well as deposits and agency fees, you may need to pay "key money", which is a type of gift for the landlord. It is important to make sure you have all the documents, such as your passport and payslips ready when you apply for a property. Read more about renting property in Japan here.
Several banks offer loans to foreigners, including those who do not speak Japanese. Residence and income requirements vary depending on the bank, and the maximum amount available from all three banks is 100 million yen. This article explains more about your options when looking for finance in Japan.
Foreign property buyers are subject to a number of taxes, including for acquiring, transferring, possessing, and operating real estate in Japan. Taxes include fixed asset, city planning, stamp, registration and license, and real property acquisition taxes. Read this article for an overview of the applicable property taxes in Japan.
A real estate seller can choose from general, full-service and exclusive full-service contracts. It's worth it for both sellers and buyers to understand how these differ, as the contract can change the way an agent represents a property. Learn more about each type of real estate contracts in Japan here.
Buying property is a stressful period — let alone being a foreign buyer with potential language and cultural barriers. Here are some tips on how to handle those inevitabe stress of buying property in Japan.
When looking to invest in property in Japan, there are important criteria for any buyer to consider, like location, unit size, building age and more. Read these tips to help ensure the long-term success of your investment.
Learn more about the various terms you will come across as you search for a property in Japan. Click here to read our Japan real estate glossary.