Regulations

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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Japanese real estate essentials: What kind of laws do you need to understand before you buy a property in Japan ?

Here is  how it works : Japanese real estate essentials.

What kind of laws are protecting rights of your real estate in Japan ?

The civil law describes the general rules for the purchase and sales (and lease) of the property.

The civil law regulates ownership and superficies and also provide the definition of rights such as pledge and mortgage.

As a conventional individual, I think you only need to know how the mortgage works in Japan.

The land lease and building lease law, which is special law of civil law, provides

the general rules of land lease and building lease.

The act on sectional ownership of buildings provides the general rules on sectional ownership, meaning

the law is for the condominiums.

The real estate registration law is for the real estate registration system.

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Buying a very affordable condominium in Japan ?: Do the due diligence

Irresistible ?

I receive a number of inquiries about very affordable and yet old condominiums from foreign nationals.

They don’t know much about Japanese market.

Japan is facing serious social issues including ageing society and shrinking population.

And old condominiums are facing similar realities especially in the regional areas.

I am not saying all old condominiums are risky but please do not jump at the gun only because they are cheap.

You need to carefully investigate the property and check the potential risks.

Real estates are totally controlled by the market mechanism and they are cheap for a reason.

That said, if you carefully search, you could get a relatively good investment.

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Essentials : How is the real estate ownership registered in Japan ?

Just the basics.

Today I am going to share some basic laws and regulations on the real estate in Japan.

1 How does the real estate registration work in Japan ?

The real estate registration system is governed by the real estate registration law (不動産登記法)

Properties are registered in the real estate register which gives the basic information of the property and its

rights/titles.

The registration record can be reviewed at the legal affairs bureau. (法務局)

The registration information can be accessed by the internet by paying a small fee (you can also

get a copy of registration at local legal affairs bureau.

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Do you need an inkan (seal, name stamp) to buy a property in Japan ?

(How to use inkan)

What kind of documents do you need to have for the registration of your property ?

After you acquire your property, you want to register your ownership with the officials here, right ?

If you don’t register your ownership(title), you can not legally argue that your property is yours.

You need the officially backing from the government.

Japan has the system called ‘Real estate registration’ (FUDOSAN-TOUKI 不動産登記)

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How the commission for agents (realtors) works in Japan ?: Risks you should watch (YouTube)

How the commission for agents (realtors) work in Japan ?
The system is very different from that of USA.

In the US, sellers pay the commission to the sellers agents (listing agents) and buyers don’t pay the commission.

(Later, sellers agents split the commission with buyers agents)

In Japan, a buyer pays the 3% commission to buyers agent and a seller pays the same 3% to sellers agent (listing agent)

3% is the statutory rate and not negotiable (it is but I don’t negotiate).

Japan has been infamous for the problem of “dual agency”.

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Can foreigners get a MORTGAGE LOAN for home in Japan ? : Key Factors

Are you curious about the mortgage loan in Japan ?

Few individuals have enough savings or liquid funds to enable them to purchase property outright.

It is normal for home purchases to be funded by a mortgage loan.

A mortgage loan is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds

for any purpose, while putting a lien on the property being mortgaged.

The home mortgage loan is widely available in Japan, too.

The best referral source for obtaining a foreign national mortgage loan is a local real estate broker that works in Japan.

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YouTube clip : Capital gain tax in Japan

When you buy a property and sell it in profit in the future, you are liable to

the capital gain tax of the Japanese government whether you are in

Japan or overseas country.

How does it work ?

How much is tax ?

Please find out more details in my video below.

Toshihiko Yamamoto
Real estate investing consultant and author.
Founder of Yamamoto Property Advisory in Tokyo.
International property Investment consultant and licensed
real estate broker (Japan).
He serves the foreign companies and individuals to buy and sell
the real estates in Japan as well as own homes.
He holds a Bachelor’s degree in Economics from
Osaka Prefecture University in Japan
and an MBA from Bond University in Australia

Toshihiko’s book, “The Savvy Foreign Investor’s Guide to Japanese Properties: How to Expertly Buy, Manage and Sell Real Estate in Japan”is now out on Amazon, iBooks (iTunes, Apple) and Google Play.
About the book 
Amazon.com Link

 

 

Can foreigners buy a property in Japan ? : Fundamental rules when acquiring a property

Interested in buying a property in Japan where the country risk is lowest in the world ?
Japan is a rare Asian country insofar as it allows foreigners to buy a property. Foreigners can buy both land and building without special qualification. When it comes to buying a property here, Japan has very few restrictions than the Western countries.

Ownership rights to land and building in Japan by a foreigner is also permitted just like Japanese citizens.

When a registrar has made a registration of ownership with respect to a real property with Legal Affairs Bureau, he/she shall can officially claim the title deeds of the property. However, there are restrictions on agricultural land (farmland). You need to get prior permission from a local agriculture committee (nogyo-iinkai) or governor when you buy the farmland. At least one corporate manager (one member of new owner) has to engage in full-time farming. In other words, if you want to buy farmland, you must become a farmer. The

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