Japan has many ongoing development projects and these are not limited to the Tokyo area. Many developments in resorts around the country are giving countless opportunities for you to find your perfect home in Japan. In addition, there is a strong market in second-hand property throughout the country.
Our guide below covers basic questions that are frequently raised by potential investors. If you require further information, your preferred real estate agent will be able to provide you details as requested.
We have a special section relating to the purchase process which you can read by clicking here.
Can a foreign non-resident buy property in Japan?
Yes! There are no restrictions for foreign non-residents to purchase real estate in Japan. You can purchase both land and properties in Japan. No citizenship or residence visa is required.
In fact, the process is much simpler than you might think and the exact same rules and legal procedures apply to both Japanese and non-Japanese buyers. This makes Japan quite unique compared to other Asian countries, where land and real estate purchases often have different rules in place for foreign ownership.
Is it possible for a foreign non-resident to get a loan from a Japanese bank?
Generally speaking, it has historically been extremely difficult for foreigners to obtain financing for property or land purchase through a Japanese bank.
Foreigners who are permanent residents in Japan and have collateral may be more successful.
Note that some areas, including Niseko, have attracted Japanese banks who are more prepared to loan against property purchases. Your real estate agent will be able to provide you with more information.
Is purchase freehold?
Although some areas in Japan are sold as leasehold, most land and property purchases are 100% freehold.
What services does the solicitor provide?
The solicitor acts as your representative in Japan.
They will be responsible for checking ownership of the property, registering the title deeds in your name and providing those to you once the payment process has been completed.
Your real estate agent will be able to provide you with contacts of solicitors.
Property and Asset Management
If you are not intending to live in your new property, it is essential for you to find a reliable company to take care of your asset. Fortunately there are many reliable management companies throughout Japan and in areas with high levels of international ownership most of them will offer services and support in English.
These companies can offer various levels of support including, but not limited to:
- payment of property bills on your behalf
- letting services if you wish to rent out your apartment
- maintenance and housekeeping services
- tax management
- organising local services on your behalf
Your real estate agent will be the best source of information on reputable local management companies.