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I 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 iss
by rtpg 6mo ago
I 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.