Guide to Buying Property in Japan
The Real Estate Purchasing Process in Japan
Buying a home is a big deal and should not be taken lightly. Various aspects of real estate transactions in Japan are protected by law. As many of these rules and regulations are difficult to understand, we have made this detailed guide about common procedures taken when acquiring real estate in Japan. This includes how to read property information, knowledge of legal procedures, important matters that should be taken into consideration, and the acquisition of rights.
Step 1 Understanding Japanese Real Estate
Real Estate Transactions and Regulatory Laws
The laws concerning property and real estate transactions in Japan are well developed. There are many rules and regulations created in order to prevent problems. Due to real estate being an expensive commodity, it is required by law to carefully check the property’s status, relationship of rights, and various legal regulations to insure a safe business transaction. It is also required that a person with the qualification of “Real Estate Transaction Specialist” is present during the contracting procedures to explain the necessary details.
For investment properties, we provide proposals for attractive listing conditions and rent prices that suit the current market to make your property competitive and profitable.
Non-Japanese buying real estate
In Japan, there are no restrictions in regards to real estate ownership of both land and building. Foreigners, regardless of their visa status, may purchase property in Japan.
Costs Incurred in Purchasing Real Estate and Home Loans
Other costs involved–aside from the purchase price of the property–are the agent fee, ownership registration fee, taxes, and some miscellaneous expenses.
Want to obtain financing from a local bank or financing company?
Step 2 The Property Search
We provide detailed explanations of residential areas in Central Tokyo with maps and pictures for each area.
We have extensive property information in English for New/Used Apartments, Condominiums, Investment Properties with tenants, and Buildings for sale in Central Tokyo and its suburbs.
Definitions of Floor-Area Ratio (FAR) and Building Coverage Ratio (BCR), and other vocabulary: