Real estate transactions in Japan are usually brokered by real estate companies to prevent trading troubles. Real Estate Transactions and Real Estate Information in Japan We here would like to give you some guidance on what you need to know in advance, compare how the process is different from a Japanese citizen, and what to note when a foreigner purchases real estate in Japan. Important Points for a Foreigner purchasing Real Estate in Japan In recent years, increase of land purchases by foreigners in Hokkaido and remote islands has been an issue, but the Japanese government is moving toward imposing restrictions on the purchase of real estate by foreigners. On March 26, 2021, Japan’ s parliament enacted Land Use Restriction Bill. Owning property in Japan does not mean that a foreigner will be able to acquire a visa or permanent resident status because they own real estate properties in Japan. The tax paid by a foreigner at the time of purchase is the same as that paid by a Japanese citizen. There is no expiration date on proprietary rights, and properties can be bought, sold, and inherited freely among foreigners. This means that foreigners are allowed to own both land and buildings in Japan as real estate properties. In Japan, unlike other countries, there are no restrictions for foreigners based on whether or not they have permanent resident status, Japanese nationality, or based on their visa type. Proprietary rights to land in Japan by a foreigner are also permitted. Can a foreigner purchase property in Japan? The short answer is, yes, it is possible.Ī foreigner can acquire proprietary rights to Japanese real estate just like a Japanese national. The number of foreigners purchasing real estate such as condominiums and commercial buildings in Central Tokyo as well as resort properties in Hokkaido is increasing. Foreigners from many countries all over the world, such as Europe, America, Asia and Oceania, have come to Japan to buy real estate for investment purposes or for their private use.
Recently, real estate property purchase by foreigners in Japan have been increasing due to the upcoming 2020 Olympic Games being held in Tokyo along with the falling Japanese yen.
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