“au Jibun Bank and SBI Sumishin Net Bank Shake Up the Japanese Home Loan Market: A Borrower’s Guide”

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Competitive Landscape in Japan’s

Home Loan Industry

: Unraveling the Impact of

Internet-Only Banks

 

The Japanese home loan market is witnessing fierce competition, with internet-only banks

 

such as au Jibun Bank and SBI Sumishin Net Bank leading the charge.

 

 

These banks leverage their lower operating costs to offer attractive interest rates

 

on variable-rate home loans.

 

Recently, au Jibun Bank expanded its preferential rates, reaching as low as 0.196%

 

for some customers. Meanwhile, SBI Sumishin Net Bank,

 

which has a market share of around 5%, reduced its refinancing rate to 0.299%.

 

 

Traditional banks are also competing by lowering their expenses through digitization

 

and offering competitive interest rates.

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Want to capture the full view for Mt. Fuji from your house?: Handsome property in Fujigane for sale

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(View from the property)

Beautiful property with full Mt. Fuji view is now for sale in Fujigane, Fujikawaguchiko-cho,

Minamitsuru-gun, Yamanashi prefecture.

Google Map

Estate

House 165m2
Resident lot(land) 990m2
Agri land 19800m2 (massive land)

Access

20min to the shopping mall
20min to Kawaguchiko Station/Fuji Q Highland
Rural pastoral town, Expansive views
2hrs to Tokyo – door to door

Business opportunity

You can turn the house into a hotel and get a hotel license.

(*Additional investment is required)

The area receives tens of thousands of foreign tourists every year and it could be

a lucrative business.

View
Mt Fuji views 90% visibility.
360-degree panorama view

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Japanese real estate essentials: What kinds of taxes are imposed on real estate in Japan? 

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Tax matters.

In fact, the most expensive item in our life is not ‘real estate’ but ‘our government’.

And the government is the tax.

So what kinds of taxes are imposed on real estate in Japan? 

Real estate-related taxis include personal income tax, corporate tax, fixed-asset tax, city planning tax, real estate acquisition tax, registration tax, stamp duty, and consumption tax 

 

Personal income tax related to real estate is the tax on individuals who gain rental income or capital gain through the sales of real estate.

Corporate tax is a tax on companies that have taxable income. Therefore, their real estate rental income and any profit from a real estate sale have an impact on their total taxable income level.

The corporate tax rate in Japan is currently about 37% (as of July 2019) so if you have a very profitable property, it is wise to hold the title under a corporate name rather than an individual name.

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

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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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Charming resort mansions in Yuzawa area, Niigata?: Think twice

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(Naeba ski resort in Niigata)

Sparkling ?

There are many resort condos in Yuzawa in Niigata for sale at a very reasonable price.

I found an interesting article about resort condos and would like to share the summary with you today.

 

After the burst of the bubble, the residents of the condominiums became elderly. 

Yuzawa Town, Niigata Prefecture, the Joetsu Shinkansen entered Ueno in 1985, and the entire Kanetsu Expressway was opened, becoming a tourist destination that attracts 10 million people annually. 

You can enjoy skiing and hot springs effortlessly from the Tokyo metropolitan area. 

In the bubble economy, 58 resort condominiums were built by 1993 with a total of approximately 15,000 units. 

According to real estate information company Tokyo Kantei, there are about 80,000 resort condominiums nationwide.

Yuzawa accounts for close to 20%.

 

However, the ski boom has gone, and prices have fallen due to oversupply.

About 30 years since the bubble, condominium users have also changed significantly.

According to the town, out of over 8000 townspeople as of April 2016, more than 1000 people registered the current address in apartments.

It accounts for 12% of the townspeople.

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How is the market going?: TOKYO KANTEI Monthly report June 2019 (condominium market)

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Fine-looking market?

TOKYO KANTEI Monthly report June 2019

Remarks:

Source: Tokyo Kantei (June 2019) The market in central districts in Tokyo is starting to show the downtrend.

Red : Market movement (sellers listing price)

 

Tokyo Kantei (real estate think tank) just announced the latest report on the price movement of the second-hand condominium market.

 

The price of second-hand apartment buildings in major metropolitan areas continued to fall at ¥ 45.59 million in the 23 wards of Tokyo, down 1.5% from the previous month.

 

It is thought that this is due to the case share reduction in the central Tokyo area and weakness in the surrounding area.

In addition, Saitama City (-1.7%, 27.74 million yen) and Chiba City (-2.8%, 18.32 million yen) are also negative, and the rate of decline in Chiba City, where the number of cases from old buildings increased, was compared It became huge.

On the other hand, Yokohama City has maintained its upward trend, with + 0.9% at 31.12 million yen.

The average prices of major cities in the Kinki region (Osaka area) rose for three months in a row to 32.84 million yen, which is + 1.1% from

the previous month.

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

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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

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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 ?

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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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Soak feeling the wind from the ocean? Interesting opportunity : Atami onsen resort (YouTube)

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Soak feeling the wind from the ocean?

Some outside baths in Atami is only 5m away from the ocean. 

You can soak feeling the wind from the ocean.

Atami is a very popular getaway destination and is renown of the onsen in the area.

It is also one of the primary locations for diving in Izu.

I visited Atami in May 2019 with a client.
You can enjoy the great ocean view from the hot onsen tub in Japanese style hotels.

It has been dead for a long time but regained the tourists for a last
few years.

It is now one of the hottest tourists spots near Tokyo.

It is only 60 min away from Tokyo and you can take shinkansen from there.

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