law

Investing in Japanese Real Estate through Mortgage Property Auctions: What Foreign Investors Need to Know

Investing in Japanese Real Estate: What Foreign Investors Need to Know

Japan is a country with a rich history and culture, and its real estate market is no exception.

With its unique blend of modernity and tradition,

Japan offers a wide range of investment opportunities for foreign investors.

However, investing in Japanese real estate can be a complex process,

and it is important to understand the legal and

cultural nuances before making an investment.

As a real estate agent based in Tokyo serving foreign investors,

I have seen first-hand the potential for growth and success

in the Japanese real estate market.

In this article, I will share some key information t

hat foreign investors should know before investing in Japanese real estate.

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Understanding Key Clauses in Japanese Real Estate: A Guide for Foreign Investors

 

Hello, dear readers and investors!

 

As a real estate agent based in Tokyo, I have the privilege of assisting numerous foreign investors

in navigating the intricacies of the Japanese property market.

Today, I’d like to share some insights on a critical aspect of real estate transactions in Japan

– the extension of settlement dates and loan cancellation dates in sales contracts.

 

This topic is particularly relevant for those planning to finance their property purchase through a housing loan.

 

In the realm of real estate transactions, it’s common for buyers to finance their purchases through housing loans. In Japan,

when a buyer opts for a housing loan, a specific clause, known as the housing loan clause (or loan cancellation clause),

is typically included in the sales contract.

This clause provides a safety net for buyers,

allowing them to cancel the contract if they fail to secure loan approval from their financial institution.

Now, let’s consider a scenario where the buyer’s financial arrangements are delayed,

leading to an agreed extension of the settlement date (the payment date) with the seller.

A question that often arises in such situations is – does the extension of the settlement date also imply an extension of the loan cancellation date?

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Safeguard Your Investment: Understanding Bait Listings in the Japanese Real Estate Market

 

 

 

 

 

Do you know ‘Otori-bukken’ ?

 

Truth be told,

 

We have to admit there are a number of

 

shady and dishonest real estate agents in Japan.

 

 

As a foreign investor considering investment opportunities

 

in the Japanese real estate market,

 

it’s crucial to be aware of the tactics some unscrupulous agents

 

 

employ to lure potential clients.

 

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Investing in Japan’s Ageing Condominiums: Opportunities and Insights for Foreign Investors Amid Legal Changes

 

Investing in Japan’s Ageing Condominiums:

 

Opportunities and Insights for

 

Foreign Investors Amid Legal Changes

 

 

Are you a foreign investor interested

 

in Japan’s real estate market?

 

 

 

As a leading real estate agent for foreign investors, we’re here to provide you with the latest updates

 

and insights into the industry.

 

Today, we’re discussing the Japanese government’s proposed amendments

 

to the Condominium Ownership Act and what it could mean for you as a potential investor.

 

 

The Japanese government is considering amending the Condominium Ownership Act by the fiscal year 2024,

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Transforming Akiya(unused house) into a Hotel?: Navigating the Legal Maze for a Successful Investment

 

Contemplating Purchasing

Akiya and Turning It into a Hotel?

Uncover the Legal Considerations

for Change of Use

 

If you’re mulling over the idea of buying an Akiya (unused house) in Japan

 

and converting it into a hotel, it’s crucial to familiarize yourself

 

with the legal considerations involved in modifying the property’s purpose.

 

In this blog post, we’ll highlight the primary aspects you need to

 

keep in mind before diving into this thrilling endeavor.

 

Stay up-to-date and optimize your investment by following our business

 

blog for more news and valuable insights.

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Japan’s Skilled Worker Shortage: How the Proposed Changes to Immigration Policy Affect the Real Estate Market (Breaking News)

 

 

Will permanent residency be

given to foreign workers?

 

 

As a real estate agent in Japan targeting foreign investors,

 

it’s important to keep up-to-date on the latest changes to immigration policy.

 

On April 24th, the Japanese government proposed a significant expansion of

 

the “Specified Skilled Worker 2” residency status, which allows skilled foreign workers to work in Japan.

 

If approved, this would allow for unlimited employment of foreign workers in 12 sectors facing labor shortages.

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Navigating Withholding Obligations for Foreign Investors: A Comprehensive Guide for Buyers and Landlords

 

Tax implications: When a non-resident sells

or rents out real estate in Japan

OLYMPUS DIGITAL CAMERA

 

 

(Case study)

 

In Japan, taxes are levied on residents (referred to as “residents”) regardless of nationality.

 

In this case, the income subject to taxation includes not only income generated within Japan

 

but also income from around the world.

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Japanese Real Estate Essentials: City Planning Law for the residential districts.

The city planning law, which was created by the ministry of land, infrastructure, transport and tourism, exist to regulate urban development.

The law divides all Japan into mainly two parts; city planning area which is regulated by the city planning law and the non-city planning area which is not regulated by this law.

The law defines 12 zoning districts within urbanization promotion areas.

Of these zoning districts, three have a primary effect on real estate projects residential district, commercial districts and industrial district.

Specific regulations for each district such as allowable use, building coverage ratio and floor area ratio are defined by the building standards law.

When you buy a property in Japan, it is very important to know which district your property exists.

Because each district is highly regulated by the specifics of city planning law(and building standards law)

and such regulations always affect the neighbourhood.

The law regulates the hight, allowable use, building coverage ratio, floor area ratio, type of the business and the size of the business and so on.

For example, you can not open a restaurant in category 1 low-rise exclusive residential districts.

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Japanese real estate essentials: What is the Building Standards Law?

What is the purpose of the mission of the Building Standards Law?

The Building Standards Law (建築基準法)was created for the MLIT to provide basic rules for construction during a building and the stipulates minimum engineering safety requirements concerning fire earthquake and other natural disasters.

It also stipulates the types of buildings we can build according to each zoning district(用途地域)

under the city planning law.

A building not contracted to meet this requirement is regarded as an illegal building however a building previously constructed in compliance with a standard existing at the time of the construction but which no longer meet current construction standards is not considered as an illegal building but rather called non-conforming building. (既存不適格)

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When you find the cheap property, please make sure if it is a non-conforming building or not. It is not a fatal mistake to buy such a property, but you have to understand what you are running into beforehand. 

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Japanese real estate essentials: The city planning law : You need to understand before you buy a property in Japan

What is the purpose of the city planning law ?

The city planning law which is set by the Ministry of land infrastructure transport and tourism (MLIT)

exists to regulate urban development.

The law divide Japan into mainly two parts :

1.The city planning area which is regulated by the city planning law

2. The non-city planning area which is not regulated by this law

City planning area is mainly divided into urbanization promotion areas where development is promoted and urbanization restricted areas where the development is restricted.

Urbanization restricted areas consist of agricultural, forestry and fishery projects.

Urbanization restricted areas are not allowed to build residential, office and retail properties.

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For example, if you want buy a land in the agricultural areas, you may not able to build your own house.

Don’t forget to check the relevant law and regulation before you purchase such land.

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