Can foreigners buy a house in Japan?  YES!

Nowadays, as the number of foreigners living permanently in Japan and foreigners with special skills working in Japan continues to increase year by year, I receive a certain number of inquiries from foreigners.

So this time, I would like to share information about buying a home for foreigners.

Please note that there are quite high hurdles for foreigners to purchase real estate in Japan, unless they can finance the purchase entirely with cash. In other words, the biggest hurdle will be financing.

In terms of obtaining loans, many Japanese financial institutions require applications for home loans to be ``as a general rule, Japanese nationals or foreigners with permanent residence permits, etc.'' I have decided not to lend money to anyone. Therefore, the first requirement is to have permanent residence. Even foreigners can receive a loan if they have permanent residency and pass the screening process.

To obtain permanent residence, there are many hurdles such as having to stay in Japan for 10 years or more, but "obtaining permanent residence" is the shortcut to obtaining a loan.

So, if you don't have permanent residency, can you get a loan to buy a house? That's not true. Some financial institutions offer home loans that are also available to foreigners without permanent resident status on the condition that the spouse of a Japanese or a foreigner with permanent resident status acts as a joint guarantor. . In practice, many of the people who were able to receive a loan had a Japanese spouse, a job, and an income. If there is no problem with becoming a ``joint guarantor'', this is one option.

Recently, there are mortgage loans that can be used even by foreigners without permanent resident status who do not have a Japanese spouse or permanent resident spouse as a guarantor. That story comes up often. However, in practice, there are very few cases in which a loan is approved by a financial institution that handles such products. Even if you do get a loan, the interest rate is often much higher than usual, so you may not want to take advantage of it.

If your home country's bank has a branch in Japan, you may be able to get a home loan there. If you use a bank in your home country, it is easy to check your past loan history, and even if you return to your home country in the middle of repayment, it is easy to track the loan, so even people who were unable to get a home loan at a Japanese financial institution may be able to obtain a loan. There is.

If funding is successful in this way, the next step is to move on to real estate transactions, but the flow of transactions is different from normal. The biggest thing is setting the deposit. There are cases where the seller asks for a deposit that is just above the upper limit. Therefore, it is better to have a certain amount of own funds for the plan itself. When it comes to financing, I have the impression that foreigners are particularly advantageous if they have a large amount of their own funds.

Thank you for viewing the above. I would be happy if you could refer to it.

At 【Home Building YONKOU(Four Emperors )】, you can consult with top professionals for free. Please feel free to contact us. Don't give up on your dream of owning a home in Japan.

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Hidehiro   Ito

"Wizard of Land"　Hidehiro Ito

We receive many requests for land searches from sales representatives of major housing manufacturers, and we broker around 60 land deals across the country every year. I cast a spell on people who have trouble finding land. Requests from foreigners are increasing year by year.