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Due Diligence Series Part 2: Family and Vacation Homes

So you’re ready to buy your first property in Japan? Or maybe you’ve already been down that rabbit hole and are wondering if you’ve done something wrong? One commonly overlooked concept in purchasing real estate around the world is due diligence. By definition, due diligence in terms of real estate is care taken by research and analysis of a property and its affiliations in preparation for a transaction. One of the quirks about the Japanese real estate market, however, is that the due diligence is only conducted once your offer is accepted.

General GeneralHoliday/Home Makers
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How Shinzo Abe aimed to revitalize Japan’s economy

Japan’s former Prime Minister Shinzo Abe, who was assassinated on Friday, July 8th, had aimed to transform and revitalize the economy. When his government took office it was faced with the daunting task of revitalizing Japan’s once dynamic economy, which was still in the shadow of the major slowdown during the so-called “lost decade” from around 1991 to 2001. Abenomics did help drive growth, though not at the pace that the country had seen during its post-war boom.

General GeneralInvestors/Business
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Some Residents to Return to Fukushima 11 Years after Evacuation

Evacuation orders will be lifted in June for the first time in the residential zone considered the most heavily contaminated from 2011 nuclear disaster in Fukushima Prefecture. Residents who fled from the Noyuki district of Katsurao village northwest of the Fukushima No. 1 nuclear plant will be allowed to restart living there on June 12. The decision followed a meeting between central government officials handling the nuclear accident and Katsurao officials on May 16.

General General
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Japan Properties
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Musk Foresees the End of Japan if Birthrate does not Increase

Tesla Inc CEO Elon Musk has warned that Japan will perish if it does not reverse its declining birthrate, responding to a tweet of a Kyodo News article that said the country’s population saw its largest drop on record in 2021. “At the risk of stating the obvious, unless something changes to cause the birth rate to exceed the death rate, Japan will eventually cease to exist.

General General
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Japan Properties
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Japan Prioritizes Digital Transformation to Public Services

Japan’s efforts to drag its public services into the digital age are getting some financial heft behind them. The government’s Digital Agency, established last September, looks set to have ¥472 billion to spend in the upcoming fiscal year, starting in April. Its budget priorities are heavy on technological upgrades: Promoting My Number ID cards (¥102.7 billion), subsidizing new industrial infrastructure (¥2.2 billion) and accelerating research into next-generation semiconductors (¥14.8 billion) and post-5G telecom networks (¥10 billion).

General General
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Japan Properties
General

Could Tokyo’s Declining Population be a Much Needed Change?

Japan saw its natural population decline accelerate by over 100,000 and logged its first population outflow in nine years amid entry restrictions on foreign residents due to COVID-19. Tokyo’s population shrank for the first time in 26 years, falling by 38,000 to 14.01 million, while all 47 prefectures except Okinawa posted a fall. Prefectures that had seen population growth in recent years saw their populations fall, including Chiba, Fukuoka, Kanagawa and Saitama.

General GeneralInvestors/Business
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Japan Properties
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Great Time to Buy Japanese Properties as Dollar Strengthens Against the Yen

The headwinds for yen are getting stronger and threaten to push the currency to a six-year low against the dollar. A spike in global commodity prices spurred by Russia’s invasion of Ukraine is likely to worsen Japan’s trade deficit as the country is a net oil importer and may push the yen to 120 per dollar this year, said Mitsubishi UFJ Morgan Stanley Securities. Mizuho Bank Ltd. and TD Securities both predict the currency will weaken to 117 by the end of June, from 114.82 on Friday.

General General
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Japan Properties
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Japanese Aging Citizens take Advantage of the “Interest Only” Reverse Mortgage

The number of applications by Japanese citizens for the nation’s “Reverse 60” reverse mortgage loan program grew by 458 units year-over-year during the period of October-December 2021, coming out to a 44% increase, according to data released this month by the Japan Housing Finance Agency (JHF), a government-affiliated mortgage financial institution, and reported on by Tokyo real estate website Rethink Tokyo.

General General
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Japan Properties
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Covid19 Alters the One-Way Flow to Tokyo

A recent tally by the Ministry of Internal Affairs and Communications shows that internal migration into Tokyo topped outflow by 5,433, the lowest figure on record. In particular, people leaving the capital’s central 23 wards outnumbered those moving in by more than some 15,000. This is surely a sign that the concentration of the population in Tokyo is beginning to reverse,

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