The word-of-the-day is:
- English definition: Asking price or list price of a property
- The asking price is the advertised price of a property that is being listed for sale.
- In Japan, there are four basic factors that go into setting the asking price for newer construction:
- Determining the value of the land on which the property is located. In Japan, 70% to 80% of the value of a property resides in the actual land on which the property sits.
- Estimating the cost of new construction. Due to labor and materials shortages, construction costs have been soaring in Tokyo in the last few years.
- Determining the cost of advertising and selling the property.
- Deciding whether it’s possible to make a profit on the sale and how much.
- Of course, it’s also important to know how much comparable properties recently sold for.
- For these reasons, a seller’s agent can give you invaluable insight into how to maximize your selling price, help you present your home or investment property in the best light to buyers (for example, by staging the property, advertising it on the right platforms and using the right photos and property description).
Yes. You can buy property in Japan regardless of your nationality or country of origin. There are also no residency requirements for buying real estate in Japan. Securing financing as a resident foreigner is more complicated. For info on financing, please see “Basic Requirements for Getting a Mortgage as a Foreigner in Japan“.
Please see this article for information on: Getting a property loan as a foreigner in Japan
Please see our step-by-step guide: Guide to Buying Property in Japan
See how much you can borrow and your monthly payments in yen: Yen Mortgage Loan Calculator
For information about purchase and brokerage fees: Breakdown of real estate purchase fees and taxes in Japan
Need to know: Earthquake building codes and technology in Japan
Bilingual Real Estate Agent in Tokyo Answers Your FAQs on Buying and Managing an Investment Property
Real Estate Japan is pleased to offer free, no obligation appraisals for owners of property in Japan. Please click here and fill out the form: How much is my property worth?
Please see our seminar page for a current list of seminars on: how to buy a home in Japan, investing in Japanese real estate for beginners, how to apply for permanent residency in Japan, how to sell property in Japan, and much more.
Yesterday’s word-of-the-day: What is the difference between a manshon and an apaato in Japan?
Top photo: House for sale in Chofu Tokyo