Phoenix Direct Management

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Acquiring Real Estate in Japan with Phoenix
Direct Management
You will agree with me that the great prospects
of real estate are well known. For an average
individual, it is never long before the idea of
acquiring an investment property comes up in
thought of in a conversation. Many factors have
directed people's attention to real estate. The
fact that they can borrow money with little
interest is one of them. Also the inheritance tax
amendment and the anticipation that real estate
price might go up following the fact that Tokyo
would host the next Olympics are a few other
factors. People are also worried about a stable
income retirement. Phoenix direct management is
glad to mention that Japan places no restriction
for foreigners in buying and selling real
estate. Just like a Japanese citizen, a foreigner
can buy proprietary rights to real estate (both
land and building). Even the recent reduction in
inheritance tax makes it more appealing. You
don't even have to leave in Japan to own a real
estate. Reports agrees that the rate of purchase
of real estate by foreigners is increasing. This
is largely encouraged by the falling Japanese
yen and also the Olympics game that will be
hosted by Japan in 2020. When acquiring a real
estate in Japan, you have to firstly know the
laws and regulation in Japan relating to real
estate transaction. Like I mentioned earlier,
there is no law preventing a foreigner from owing
a real estate in Japan. But if the foreigner
hopes on getting loan from the Japanese banks, it
might be a bit difficult. Either they give you
no offer at all or they might charge high down
payments or impose high annual interest rate.
Those foreigners who speak Japanese fluently or
has a Japanese spouse might be treated
differently. It is pertinent to know that apart
from the real cost of a real estate, there are
some costs attached to it. They include
ownership fee, taxes and agent fee. There may be
more depending on the location.
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Firstly, you have to make a choice of the real
estate to buy. Knowing the market is good. It
enables you make proper choice of the location
that are economical. Buildings in the city or
those near train stations might cost higher.
Phoenix direct management can locate the right
property for you in Tokyo and entire
Japan. After making a choice, a formal
application is made to the seller. The
application would carry your personal data,
offer price, date of payment, payment method and
any other detail considered important. If the
seller agrees to the terms, a final sales
contract is drawn. Phoenix direct management
advises on doing this through an agent. In fact,
the Japanese law requires the presence of a
registered and licensed real estate agent. The
agent would give you an explanation of some
important matters. The terms of contract, date,
date of payment, payment method, building
management and legal limits are some of the
important matters that can be explained. After
all this, payment is made. If the purchase is
sponsored, the bank providing the loan could make
the payment. The foreigner is further required
to register the new propriety right with the
government through the Legal Affair Bureau. A
"Notice of Information for Registration
Identification" is given to the owner after
complete registration. Acquiring property in
Japan is easy especially with the help of an
agent. Phoenix Direct Management is here to
guide you through it all. Now is the best time to
invest in Japan real estate.