In this video presentation, Ms. Yasuko Suzuki , a bilingual real estate agent from the Purchase and Sales division of Plaza Homes, gives an overview of the advantages that foreigners can enjoy by purchasing properties in Japan and practical tips for choosing a property, especially with respect to earthquake building standards.
Can a foreigner buy real estate in Japan?
Perhaps the most important attraction of buying property in Japan is that foreigners can buy property in Japan under the same conditions as Japanese regardless of nationality, country of residence or visa status.
You can use the property as you desire: for yourself, to rent or to re-sell. However, buying a property is not equivalent to obtaining a residency permit. The video presentation gives a very clear and concise explanation of the other main attractions of buying Japanese property. Please click on the video link below to see what they are!
In the second part of the presentation, Ms. Suzuki goes over the things you should consider when choosing a property:
- Building management
- History of the property
- Risk of disaster
One of the key things to know about earthquake-resistant construction in Japan is that earthquake building standards were significantly upgraded in 1981.
What is the main difference between the old and new standard? The new building standard is meant to give people sufficient time to escape, while the old standard focused on preventing the building from collapsing.
The presentation compares the old and new standards in much greater detail and explains why it may be more relevant for buyers to consider 1983 as the preferred date of construction, rather than 1981, because although the revision to the law occurred in June 1981, the first condominium buildings and houses built to the newer standard were completed about two years later.
Because Japan is a country prone to natural disasters, if you are considering buying a property in Japan, the earthquake resistance of the building should be an essential checklist item, and this video gives a great overview of the main things you need to know about the topic.
Plaza Homes’s website also has many in-depth articles about earthquake-building standards, natural disasters and earthquake preparedness as they relate to living in Japan and buying property here, including:
- How to choose an earthquake-resistant building
- Earthquake insurance in Japan
- Flooding and flood insurance
For more information
Plaza Homes is one of the leading bilingual real estate brokerages in Tokyo, with over 50 years of experience helping foreigners buy and sell real estate in Japan. If you are considering buying a property in Tokyo, please contact them below to get started!