Japan holds the world’s third largest economy and is one of the leading economies of Asia. As a general rule, you will find sophisticated and well urbanized real estate in this country. Tokyo, being the capital of Japan, always remains in the spotlight. It is the world's largest city when measured in terms of economic growth. This city is all set to grow more in the future since it draws the attention of foreigners whether you are looking to purchase a home or want to invest in a project or Tokyo property.
Compared to yesteryears, Tokyo’s property market has never been stronger. After a decline due to the Covid-19 pandemic, Tokyo’s property market came back stronger with an increase of 6.05%! Source: Global Residential Markets Report
There are many reasons that make Tokyo the safest place for investing in its real estate this year. Let’s find out the 5 reasons amongst those.
In most of the Asian countries, foreigners usually have to deal with unfamiliar laws and customs while trying to buy properties. However, the scenario is different in Japan real estate since the ownership law of this country is fair, and foreign nationals can get almost the same rights as Japanese citizens.
Japan real estate is a freehold market, and there are absolutely no restrictions for foreign buyers. As a foreigner, you do not need to hold property by lease, and you can also own lands if you want to. So, from a legal point of view, Japan is a very good choice for foreigners to invest in properties, or specifically Tokyo property.
Japan’s stable economy makes it a safe country for investment. There is no possibility of witnessing notable changes in its government, and economy as well, in the future. As a result, the government or other powerful forces will not be able to interfere with the property prices set by the market.
It is also noted that Tokyo ranked first in the Safe Cities Index 2019 conducted by the Economist Intelligence Unit. This indicates how safe it is to own a Tokyo property in a completely new place, more so in a stable and sustainable economy.
Unlike other Asian countries, you will be able to live at a relatively cheaper cost in Tokyo. Mostly, foreigners express their concern about the affordability of the country in which they are going to invest since there are huge differences in the currency rate from one country to another. However, Tokyo can be an example of a city which demonstrates successful urban planning. This resulted in affordable Tokyo property to live in, even for the non-natives.
Oftentimes, Japan is reviewed to be the cleanest country in the world. It makes another reason to consider this place for investing in your dream house or your desired project. Purchasing a property in a pristine place is always a good idea, since it will be good for your health. This culture of cleanliness can also be spread through your project to others.
If you want to buy property in a new place, you should definitely consider about the taxes. In some countries, high tax rates are put on the investors, which make them suffer from time to time. But, it is different in Japan as they reduced the tax rate with property ownership. This feature has attracted a lot of foreign investors to the country.
So, after buying Tokyo property in Japan, an investor can enjoy a lot of advantages regarding the ownership in comparison to other countries. You are going to cherish this particular decision of investment throughout your life. Don’t miss your opportunity to grab your own property in Tokyo!
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