Posts Tagged ‘Japan’
Endless accommodation renting options in Tokyo
If you are looking for a Tokyo apartment for rent, worry not a thing because the number is almost endless. You can choose from a lot of accommodation in town and pick the ones in the most convenient locations for you. Tokyo apartment for rent has a workspace, own kitchen, a comfortable lounge, furnishings that enable it to have a cozy and more homely feel. Some apartments also offer free wifi, guaranteed security and laundry services.
If you have an agent, looking for an apartment in town may be easier because agents have a listing. You may schedule a visit of the apartments that your agent suggests and pick the one that you feel is most appropriate for you. Reservations usually take about a week. In applying for a Tokyo apartment for rent, you have to first inspect the place and get an application form. Fill out the form and submit it to the person in-charge. Wait for a call for you to be notified if the apartment is available. Once you are decided on renting the place, ask for the leasing terms and start processing the reservation. Some contracts allow the tenant to stay for a few months. This will depend on your needs. You may make the payment through bank transfer or through credit card.
If you intend to stay in Tokyo for quite a long time, the practical setup is for you to rent an apartment because it is way cheaper compared to hotels. There are apartments that have rates per day, week or month. Whichever serves you well, you can make arrangements with the person in-charge. What is really important is for you to talk to the manager first and tell him how you intend to use the apartment and for how long you will rent the place.
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How to Purchase Real Estate in Japan
Land properties are a great part of the Japanese economy as lands are always used as collaterals for loans. Collateral is an asset you offer to the bank or other financial institutions to secure that the loan is authentic. The lender can take ownership of the collateral asset, if you do not repay the loan. Since Japanese small businesses have few opportunities for equity finance, they use the land as collateral to obtain loans. This is a great investment for the banks and other financial institutions as well because land does not depreciate.
The Japanese value their real estate so much; it is a precious asset that not everyone can attain in Japan due to the high price range. However, most Japanese still try to purchase their own real estate by obtaining loans and use these properties for residence or as investment (i.e. apartment rental). This is why there is always a high demand for real estate in Japan, especially in the urban areas because most Japanese always try to avoid heavy traffic, rush hours, and expensive parking fee.
Almost anyone can obtain real estate properties in Japan, especially if you already have a long-term or permanent visa. If you need to apply for a loan, however, you would also need to show stable financial status, meaning having a stable job and being able to pay all your bills.
A great tip when buying real estate in Japan is to research on the legal matters ahead of time. Since lands are sometimes used as collateral, there is no harm in checking in the registry if there are any mortgages, liens, or other personal rights attached to the land. Also, there are some lands that are restricted to building and construction. More information about this can be found in the Urbanization Planning Act of Japan.
Another advice is to check out court auctions. Since there is a pretty high demand real estate in Japan, prices are usually sky-rocketing. Not to mention that you still have to go through brokers, dealers, or land developers in order to purchase properties in Japan, so this adds to the expense. A better and cheaper way of acquiring real estate in Japan, therefore, is through court auctions. Most Japanese newspapers publish lists of all properties and their locations that are being auctioned by the court for the month. You may want to check out these properties (however, one cannot just go inside these properties, they must be observed by a distance). Then, you have to bid for these properties in the court. You may have to compete with professionals who are looking to buy and resell these properties to gain income, but it’s a fair shot. And the reward, being able to purchase a real estate in Japan at a greatly reduced price, is definitely worth it.