Useful resources for foreign buyers interested in an introduction to the Japanese property market.
Japan is a popular destination for Australian travellers and property investors alike. Ski resorts on the country's north island in particular bring in many powderhounds and buyers each year. But buying a property for the first time in any country can be daunting, even when there is no language barrier. RE Talk Asia 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.
Learn more about the various terms you will come across as you search for a property in Japan. Click here to read more.
--
See also: