| ▲ | intenex 3 hours ago | |
Shockingly it's not! It's actually incredibly easy for foreigners to own property in Japan, and it's actually so established that we're buying the property in my name as a US citizen rather than in my wife's name as a Japanese citizen, for a few reasons that I won't get into here, but suffice it to say that there are very few downsides to being a foreigner that I've seen thus far. Two things I will call out as actual disadvantages is that 1. you won't be able to get a mortgage like a normal Japanese person, which is in fact a real shame because on top of every other ludicrously wild fact about how Japan is a mythical utopia where everything makes no sense, Japanese mortgage rates are literally as low as 1% lol. So being able to get a mortgage would be a real benefit, but hey - at $60k for an awesome house, I'm not complaining :) 2. Some insurers seem to not support foreign citizens - Sony in particular told Dot that they wouldn't provide earthquake/fire/flood insurance to me as a foreigner. I'm still looking for the right insurance provider, and I'm not concerned that this is an impossible thing to resolve, since a ton of foreigners do own homes here with no issues, but it is at least some more friction than a Japanese citizen would have. | ||
| ▲ | spike021 an hour ago | parent | next [-] | |
One other disadvantage you didn't mention is it's difficult to get a visa that makes buying a home there worth it, for the average Joe. Most regular people can only visit Japan for 3 months out of the year. Even if you buy a home you can't get a visa just for that. Maybe in your case the visa thing isn't an issue because of your wife but that won't be the case for most people. | ||
| ▲ | garbawarb 2 hours ago | parent | prev [-] | |
Why buy in your name? | ||