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Japan UnderGround >> Tokyo real estate


10/27/06 7:54 AM
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Matt Banks
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Edited: 27-Oct-06
Member Since: 01/01/2001
Posts: 447
 
Hi there, I am a real estate developer by trade. Due to my love of mma & Japan I would like to buy a house just outside Tokyo at some stage. Ive been to japan about 6 times in the last few years. I understand that the housing market in japan is declining. I was wondering whether it would be possible to buy a reasonably sized appartment within commuting distance of tokyo for around ¥67,300,300.88? What are the best japanese estate agent websites (english language). I appreciate that if i were to buy in japan I would have to establish some good contacts who were bi-lingual to ensure I get a good deal. I just posted on this forum because I thought i may be able to get a general idea of prices. thank you
10/30/06 9:04 AM
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Opash
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Edited: 30-Oct-06
Member Since: 03/14/2002
Posts: 2701
Do you wanna buy to develop and make a profit?
10/30/06 8:40 PM
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stampy
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Edited: 30-Oct-06
Member Since: 01/01/2001
Posts: 159
You can get a house within a "reasonable" commuting distance of Tokyo for 50 million yen or so. Housing as an investment (if that is indeed, what you are looking at), from what I know: Most houses are a declining asset (a 20 year old house is worthless as a building, generally speaking) If the land does appreciate, capital gains tax will kill you. It's been a while since I looked at it, though, so maybe things have changed (I once considered buying a house in Japan). Sorry for the cut and paste links, but here goes: At least one person has a different idea on how to purchase a house, though it wouldn't be in the Tokyo area: http://www.escapeartist.com/OREQ11/Real_Estate_Japan.html Some quick overviews with very general info: http://www.japan-investments.com/first_home_buyer.shtml and http://www.moneyweek.com/file/20244/a-bull-market-in-property-is-just-beginning---but-where.html A dated (1988) article on capital costs and taxes: http://www.esri.go.jp/en/archive/dis/abstract/dis44-e.html Speaking of capital gains taxes (section 5 in the following): http://www.mof.go.jp/english/zei/report/zc001a.htm For an explanation of this quote: "The fact is that a house is not an asset with durable value in Japan", then see: http://www.glocom.org/opinions/essays/20031014_shimada_housing/index.html I'll assume, though, that as a real estate developer you know a heck of a lot more than I, or maybe just want a second home, so without further ado here are some real estate sites: http://www.nord.co.jp/ http://www.yamate-homes.co.jp/english/ http://century21japan.com/ Stampy
1/2/07 11:46 AM
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newport
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Edited: 02-Jan-07
Member Since: 01/01/2001
Posts: 5
so u would like to buy the whole thing in cash or u need a loan? as a foreigner still possible but difficult...depends on the bank....a coworker who joined our securities firm was turned down for a loan from the parent bank..can be very hard without a japanese spouse good luch..good time to buy i guess
1/7/07 8:33 PM
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yuta japan
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Edited: 07-Jan-07
Member Since: 06/30/2006
Posts: 7
check the area"Saitama" its pretty much suburban area. lots of people commute from Saitama to Tokyo.

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