Can foreigners buy Japanese real estate?

Can foreigners buy Japanese real estate in the first place? How should I buy it? This is a corner to answer such questions.

Real estate in Japan can be owned by foreigners as well as Japanese. Ownership of land is also permitted.
In Japan, there are no restrictions on the purchase of real estate for foreigners, permanent residence, the presence or absence of Japanese nationality, or the type of visa, and foreigners are allowed to own real estate on both land and buildings.
There is no "deadline" for ownership, you can buy and sell freely, and you can also give or inherit.
The tax on buying, owning, and selling real estate is no different from that of Japanese people. Also, in Japan, you cannot get a visa or permanent residence just because you bought real estate.

On June 16, 2021, the "Land Regulation Law" was enacted in the diet of Japan. It was In recent years, land purchases by foreigners in Hokkaido and remote islands have become a problem, but the Japanese government has begun to impose restrictions on the purchase of foreign-owned real estate.

Points for foreigners to purchase real estate in Japan
Here are some points that foreigners should know in advance when purchasing real estate in Japan, points that are different from those of Japanese people, and points to be aware of. About real estate transactions and real estate information in Japan
Real estate transactions in Japan are usually mediated by real estate companies to prevent transaction troubles.
There are few direct transactions between individuals.
Information on properties for sale is provided individually by real estate information companies and real estate companies or real estate consultig company like us that sell real estate, and there is no database that manages all property information and transaction history.

Search for real estate information on the internet
Anyone can search for property information on the Internet. First of all, we recommend that you search for a property based on your desired conditions such as property area, budget, floor plan, and age.
There are many real estate information sites in Japanese,

wealth of real estate information in foreign languages.
When purchasing real estate, it is important to ask a reliable real estate company or real estate consultig company like us because the contents and procedures of the contract are specialized and difficult, and it is a high-priced transaction.
Also, if you are a foreigner, it is different from the case of a Japanese person in preparing necessary documents and handling overseas remittances, so it is recommended to ask a real estate company with experience in real estate transactions by foreigners.

Flow of real estate purchase in Japan
If you find a property that you are interested in, ask a real estate company to tour the property. Once you have decided on the property you want to purchase, apply for the purchase, negotiate the terms and conditions with the seller, and make a contract.

About the cost required to purchase real estate
When purchasing real estate, in addition to the property price, various costs and taxes such as registration fee, consultant fee, brokerage fee, etc. will be charged.
Each cost is calculated based on the property price and the "property tax valuation amount" of the real estate.
When searching for a property, make a financial plan in mind that 6 to 10% of the property price will be required as expenses.

Things foreigners should prepare in advance when purchasing real estate in Japan
The required documents differ depending on whether you live in Japan or not.
Those who live in Japan / Those who have a status of residence.

■ Resident's card
■ Residence Card / Special Permanent Resident Certificate
■ Seal (If you do not use a loan, you do not need it if you do not have one)
■ Seal certificate (required when using a loan)
■ Identity verification documents (driver's license, passport, etc.) Those who do not live in Japan / Those who do not have a status of residence
■ Affidavit (as proof of address and signature)
■ Identity verification documents (driver's license, passport, etc.)
The affidavit is a private certificate (a private document signed or stamped by the creator), which is sworn in front of the notary public that the contents of the statement are true, and the certificate is signed and stamped.
It is a certificate certified by. In real estate sales transactions, an "affidavit" is used as a document to prove the current address of a non-resident in Japan and the signature of a person who has not registered a seal.

The affidavit must be certified by a notary public in your country, but it may also be certified by the consular department of the embassy in Japan. It may not be possible to be certified in Japan, so it is recommended that you obtain an affidavit in your own country before you come to Japan to purchase real estate.

How to send money from overseas to Japan and pay the real estate transaction price．
For real estate sales transactions in Japan, the deposit is paid at the same time as the real estate sales contract is concluded, the balance of the sales price is paid at the time of settlement, and the real estate is delivered and the transaction is completed.
At the timing of this transaction, the purchase price will be paid by bank transfer to the seller's bank account. Most non-residents in Japan do not have a bank account in Japan, so they will be remittances from overseas, but it is difficult to adjust the deposit date. It causes sexual problems.
Therefore, in many cases, the money is sent in advance to the account of the real estate company that mediates the transaction, and the purchase price is paid from the account of the real estate company. Since you need to transfer a large amount of money to a real estate company, it is important to choose a reliable real estate company that is familiar with foreign real estate transactions.

Obligation to report under the Foreign Exchange Law When a foreigner residing overseas (hereinafter referred to as a non-resident) acquires Japanese real estate, it falls under the category of "capital transaction" under the Foreign Exchange Law and is financed via the Bank of Japan within 20 days of the acquisition of the real estate. The name and acquisition price of the acquisition holder must be reported to the Minister in the prescribed report format.
However, reporting is not required in the following cases. When acquired for the purpose of residence of the non-resident or a relative, employee or other employee of the non-resident When a non-resident who engages in non-profit business in Japan acquires it to carry out the business.
When a non-resident acquires it for his / her office When acquiring real estate from another non-resident Report Form Article 55-3 of the Foreign Exchange Law Form 22 Report on real estate in Japan or acquisition of rights related to it Submission address: Japan Post Co., Ltd. Nihonbashi Post Office PO Box No. 30

Reference: Bank of Japan website
http://www.boj.or.jp/about/services/tame/t-redown2014.htm/#p05

Obligation to pay tax after real estate acquisition If you own real estate, you have to pay property tax and city planning tax every year. In addition, if you rent your real estate and generate real estate income, income tax will be levied, so you need to file a tax return.

Therefore, if the taxpayer of the real estate is a non-resident in Japan, tax payment management will be performed on behalf of the tax office, etc. It is necessary to appoint a person and submit the tax administrator's notification to the tax office chief.