Tag Archive for real estate

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.

*

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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We support akiya investment but only on a fee basis (YouTube)

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Are you interested in Akiya ?

We receive an inquiry almost everyday about akiya investment.

They are mainly from western countries such as US,  Canada and Australia.

Almost everyone just wants to buy a cheap akiya house for their financial benefit.

But akiya investment is not easy.

The stickiest issue is the renovation cost.

It could be very significant and a way more than the value of the houses.

We don’t search akiya for free.

If you want to buy akiya,  you need to hire me on a fee basis

otherwise please contact other agents who can handle akiya on a commission basis.

(but I do not think there is any)

 

You need to understand how the Japanese system works and the traps and

challenges that exist.

Akiya (unused house) is cheap for a reason !

 

Please watch my YouTube video for more details.

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

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(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)

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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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