Tag Archive for 日本不動産

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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Real estate investment in Japan : Beautiful Stories, Hard Realities

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Beautiful Stories, Hard Realities

Real estate agents/realtors are always holding seminars in Tokyo, Osaka and elsewhere, luring in amateur investors (for Japanese investors so far)

and telling them beautiful stories of how this person or that person got rich in the property market.

I never exaggerate such successes in my seminars, although of course they do exist.

Instead, I always tell the audience true stories from my experience and those of other clients and inexperienced investors, and in particular about the mistakes made.

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

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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 ?

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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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Despite the turbulence in the residential market segment, office buildings are in shortage

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The vacancy rate is historically low in almost two decades since January 2002.

The vacancy rate of office buildings  in May in the five central wards, Tokyo (business districts, Chiyoda, Chuo, Minato, Shinjuku, Shibuya)

was announced recently by office building brokerage firm Miki Shoji in Tokyo.

The vacancy rate dropped by 0.06 points to 1.64%. 

Vacancy rate is the lowest since 2002.

Office buildings in central Tokyo continue to have very few vacancies.

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