The barriers to owning property for a gaijin may be less now than in the past, but there are still many pieces of information to remember when looking to purchase property in Japan. Prices have been on a consistent rise in recent times, but they are still far less than what they were before the bubble burst. For this reason a property invetsment might seem like a good idea now, but with prices fluctuating so much it is hard to tell what will happen in the near future. This is especially important considering how expensive prime real estate in places like Tokyo can be and the amount of money that will need to be laid out.
Another thing to keep in mind is that in Japan there is the ever present danger of earthquakes. This might not seem like a realistic concern, but it is another thing to keep in mind that could reduce the value of your property instantly. Buying something like a manshon is another option or you can look into properties that have been foreclosed on, which are called keibai bukken. With enough effort the latter option could produce some great deals. However, be prepared to put down ten percent of the purchase price before even seeing the interior of the house.
Despite the challenges, Japan has some of the lowest interest rates you can find if you are able to qualify for a loan. When searching for a house the best methods are generally through the internet or with a realtor. As it can be more difficult to get assistance as a foreigner, it would be a good idea to bring a Japanese friend along. If you do manage to get the loan and find a house you are interested in, congratulations and enjoy being able to discover Japan slowly.
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