Buy Property in Japan with Multilingual Support for Foreigners – MINAMIAOYAMA REAL ESTATE Inc.

• Table of Contents
• What challenges do foreign visitors face when buying property in Japan?
• The process of buying real estate in Japan
• Can foreign visitors get a home loan in Japan?
• Real estate purchase support for foreign visitors"MINAMIAOYAMA REAL ESTATE Inc."
• Summary: Utilizing the right support will make your property purchase in Japan a smooth one

What challenges do foreign visitors face when buying property in Japan?

More and more foreign visitors are considering buying real estate in Japan. In addition to its appeal as an investment, demand is also growing for relocation and second homes. However, when actually trying to proceed with a purchase, most people face problems such as language barriers, complicated contracts, mortgage acquisition conditions, and Japan's unique tax system.

Survey of foreign visitors interested in purchasing real estate in Japan

In fact, when we conducted a survey of foreign visitors interested in purchasing real estate in Japan, the following issues emerged:

"Language barrier" (40%): Contracts and important information are only in Japanese, making them difficult to understand

"Housing loan hurdles" (25%): It is difficult to pass a loan screening without permanent residency

"Unclear purchasing process" (20%): Not knowing which step to take

"It's difficult to choose an area" (10%): It is difficult to determine which area is suitable for investment or residence.

"I'm worried about post-purchase management" (5%): It's difficult to find a reliable management company

In particular, many people feel that "it is difficult to find a property and sign a contract because I can't speak Japanese," and just understanding the real estate purchasing process itself is the first major hurdle.

To solve these issues, you can make the purchase go smoothly by using a real estate agency that provides one-stop services for foreign visitors.

The process of buying real estate in Japan

Purchasing real estate is not as simple as "finding a property you like and signing the contract right away!" By following the proper procedures, you can avoid trouble and make the transaction go smoothly.

1.Property search: What to buy and in which area?

Prices and demand vary greatly depending on the area of the Japanese real estate market.

Although property prices are high in central Tokyo and Osaka, rental demand is stable and you can expect long-term asset value to be maintained. On the other hand, property prices in regional cities are lower than in central Tokyo, and you have the advantage of being able to purchase larger homes and land. However, you must also take into account the risk of rental demand and future fluctuations in value.

When searching for properties, it is common to use real estate portal sites (SUUMO, HOME'S, etc.), but most of them are only available in Japanese, so it can be difficult to set detailed conditions and negotiate.

2.Purchase request: Express your intention to purchase

Once you find a property you like, you submit a Proof of Purchase to the seller to officially convey your intention to purchase.

3.Property inspection

Once the purchase certificate is submitted, we will review the detailed information for the property. At the same time, we will create a trial balance sheet and confirm the initial and running costs.

4.Preparation of documents, etc.

If you are a foreign visitors who does not reside in Japan and wish to purchase real estate in Japan, you will need to submit an affidavit.

This is proof of identity and address, and is certified by a notary public. In addition, a judicial scrivener will verify your intention to purchase the property online.

5.Conclusion of sales contract: Check the contract contents carefully

Once negotiations with the seller are successful, a formal sales contract will be signed.

This contract is written in Japanese, so if you enter into the contract without fully understanding its contents, it may lead to trouble later. It is important to check it carefully with translation support.

6.Payment

Although it depends on the price of the property and the buyer's intentions, in most cases no deposit is paid and the contract and payment are made on the same day.

This is because there are international remittance fees and it takes time for the money to arrive after it has been sent.

You do not need to open a Japanese bank account (strictly speaking, you cannot) to buy property.

7.Handover of property: Officially become the owner

Once all procedures are completed, the ownership will be transferred and the property will be handed over to you.

At this time, real estate registration is required, and a notary public will usually handle the procedure.

Can foreign visitors get a home loan in Japan?

1. Purchasing a second home with a Japanese mortgage

Basically, the screening criteria are whether or not you have income and a history of residence in Japan, so foreign visitors who do not live in Japan cannot use it. Even if you work in Japan, if you are not recognized as living in Japan, such as with a SOFA, you will need a formal residence status.

2. Purchasing an investment property with a Japanese mortgage

foreign visitors who do not live in Japan can also use this loan, but the condition is that they must be able to understand the contract in Japanese, which can be a high hurdle. Also, the interest rate is higher than for regular loans, so choosing the property carefully is important.

Real estate purchase support for foreign visitors"MINAMIAOYAMA REAL ESTATE Inc."

When purchasing real estate in Japan, many foreign visitors face challenges such as the language barrier, complex contracts, differences in tax systems, post-purchase management, etc. To overcome these challenges, it is essential to have a real estate company that can provide comprehensive support rather than simply introducing properties.

MINAMIAOYAMA REAL ESTATE Inc. offers one-stop services utilizing our specialized knowledge and track record to help foreign visitors purchase and manage real estate in Japan with peace of mind.

MINAMIAOYAMA REAL ESTATE Inc.'s support can be broadly divided into four areas:

Multilingual support (English and Chinese)

In general real estate transactions in Japan, contracts and important matters are generally conducted in Japanese, but MINAMIAOYAMA REAL ESTATE Inc. has staff who can speak English and Chinese. We will explain important points in an easy-to-understand manner so that you can proceed with the transaction only after you are satisfied. We also provide English and Chinese translations of contract documents. 

Contract, legal and tax advice

We provide easy-to-understand explanations of the unique Japanese real estate contract structure and tax system, and support you in going through the procedures smoothly. We also provide advice on checking contract contents, calculating taxes, and post-purchase procedures. 

Investment property proposals and market analysis

If you are looking to invest in real estate, the key to success is to understand the trends in the Japanese market and choose a property with high profitability. MINAMIAOYAMA REAL ESTATE Inc. analyzes rental demand and the future potential of properties in each area to propose optimal investment plans.

Post-purchase management and rental operation support

After purchasing a property, it can be surprisingly difficult to find a reliable management company and arrange for renovations and maintenance. MINAMIAOYAMA REAL ESTATE Inc. has a management department, so you can ask for ongoing support. We will deal with tenants and handle the payment of management fees and taxes on your behalf. We can also suggest ways to increase the value of your property through renovations.

MINAMIAOYAMA REAL ESTATE Inc. is not just a partner to help you find a property, but a reliable supporter with a deep understanding of the Japanese real estate market, guiding you through the entire process from purchase to operation. Even those who are purchasing real estate in Japan for the first time can proceed with the transaction with peace of mind.

Summary: Utilizing the right support will make your property purchase in Japan a smooth one

While the Japanese real estate market is attractive for investment and relocation, foreign visitors face hurdles such as language barriers, complex contracts, and post-purchase management.

In order to overcome these challenges and purchase and manage real estate with peace of mind, it is essential to work with a real estate company that provides support for foreign visitors. Having a partner with specialized knowledge will eliminate anxiety about contract procedures and allow you to proceed smoothly from property selection to post-purchase management.

If you are considering purchasing real estate in Japan, get the proper support from a trustworthy real estate company to ensure a reliable and safe transaction.

Contact MINAMIAOYAMA REAL ESTATE Inc.