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There's also the issue of people going to Japan to buy out several properties to then rent them out.
by Tade0 6mo ago
There's also the issue of people going to Japan to buy out several properties to then rent them out.
- socalgal2 6mo agoIs that a thing? I remember a few years ago when they added a bunch of regulations to rentals that raised the costs.
- dublinstats 6mo agoI'm guessing they get a business visa based on claiming revenue from the rentals, then use that to sponsor more people as employees. As for regulation costs, airbnbs are notorious for not adhering to regulations. Depends on how well Japan is able to police it.
- 0x3f 6mo agoThere are no residence requirements for buying property in Japan. So... what?
- m463 6mo agoFrom what I have heard, japan tacks on lots of extra costs/taxes for this situation.
- pjjpo 6mo agoUnlike banks, many services, some Rakuten subpages, etc requiring full width, I have found real estate sites (purchase, not rent) to be the most likely to accept half-width roman characters for the name input box.
- rtpg 6mo agoI don't believe there are residency requirements to ownership so the people doing that do not need to go through this flow at all. Just an entirely separate issue, though it might be tackled. I do have the impression Tokyo is getting similar dynamics to the rest of the world on this front: builders don't care where the money is coming from and so if money from outside the country can get buildings built they're happy. A friend of mine moved into a sold-out Yokohama tower mansion recently... and despite the bike and car parking being fully booked even more than 6 months in it was _quite_ empty. I have a feeling a lot of people are buying into the market expecting to get easy rental money and not really seeing it.
- soco 6mo agoBut if it's empty then it's not rented out, so why the whole exercise? Park their money?
- pjjpo 6mo agoI don't know how verifiable it is, but the general narrative has been a lot is Chinese parking their money outside the reach of the CCP. I've never quite understood the mechanics of this though.
- rtpg 6mo agoApparently they’re listed but people aren’t biting? Though this was a while back so maybe things have changed
- red-iron-pine 6mo agobasically, yes. the chinese government owns all land and all banks. they snap their fingers and you have nothing. you put it into japanese, usa, canadian housing, etc. etc. under a company flagged in bermuda and you're covered.