While Australia is increasing the costs for foreigners to buy property, there are no restrictions and no additional legal hoops that Australians, or any foreigners, needs to go through to purchase a property in Japan.
Consequently, there are clear market trends that foreign ownership is significantly on the rise in Tokyo, says Robin Sakai from Housing Japan, which primarily works with foreign buyers of high-end, luxury properties in the centre of Tokyo. Sakai said Australian, Northern European, and Hong Kong/Singapore-based buyers make up the biggest segment, and since 2012, Tokyo's foreign population has increased. "Because there is no restriction on foreign ownership, and Japan is safe, stable, and with a good wealth spread, plus a growing presence in lifestyle markets, Tokyo and locations like Niseko are seeing foreign ownership significantly on the rise," said Sakai.
Properties in Tokyo make for a good investment compared to other Asian cities because foreign owners aren't taxed more heavily like they are in Hong Kong or Singapore, and Tokyo rental returns are on par with Hong Kong despite buying costs being much lower. In 2014, the cost of buying residential property in Tokyo was $US11,466 per square metre with a rental return of $US6341 per month, compared to a cost of $US20,660 (psm) and a rental return of $US6198 in Hong Kong, according to Global Property Guide research cited by Housing Japan.
Sakai is currently marketing Gravitas Akasaka, one of the most unique homes to ever be developed in Tokyo. It is two freehold residences, for sale separately or as a pair, each approximately 390 sqm in size. Both feature a bold, modern design that integrates touches of Japanese tradition, such as warm natural Japanese woods. Each of the bedrooms come with elegant ensuite bathrooms, walk-in closets, and large storage wardrobes. The expansive dining-kitchen area is linked to the huge living room that features large windows and high-ceilings. Downstairs, the lower level opens out into a spectacular theatre room and private wine cellar, while Tokyo's skyline is on display from the large rooftop terrace and garden. For more information, contact Tsutomu Sato at Housing Japan on: sales@housingjapan.com
