Phoenix Direct Management

1. Acquiring Real Estate in Japan with Phoenix Direct Management You will agree with me that the great prospects of real estate are well known. For an average individual, it is never long before the idea of acquiring an investment property comes up in thought of in a conversation. Many factors have directed people's attention to real estate. The fact that they can borrow money with little interest is one of them. Also the inheritance tax amendment and the anticipation that real estate price might go up following the fact that Tokyo would host the next Olympics are a few other factors. People are also worried about a stable income retirement. Phoenix direct management is glad to mention that Japan places no restriction for foreigners in buying and selling real estate. Just like a Japanese citizen, a foreigner can buy proprietary rights to real estate (both land and building). Even the recent reduction in inheritance tax makes it more appealing. You don't even have to leave in Japan to own a real estate. Reports agrees that the rate of purchase of real estate by foreigners is increasing. This is largely encouraged by the falling Japanese yen and also the Olympics game that will be hosted by Japan in 2020. When acquiring a real estate in Japan, you have to firstly know the laws and regulation in Japan relating to real estate transaction. Like I mentioned earlier, there is no law preventing a foreigner from owing a real estate in Japan. But if the foreigner hopes on getting loan from the Japanese banks, it might be a bit difficult. Either they give you no offer at all or they might charge high down payments or impose high annual interest rate. Those foreigners who speak Japanese fluently or has a Japanese spouse might be treated differently. It is pertinent to know that apart from the real cost of a real estate, there are some costs attached to it. They include ownership fee, taxes and agent fee. There may be more depending on the location.

2. Firstly, you have to make a choice of the real estate to buy. Knowing the market is good. It enables you make proper choice of the location that are economical. Buildings in the city or those near train stations might cost higher. Phoenix direct management can locate the right property for you in Tokyo and entire Japan. After making a choice, a formal application is made to the seller. The application would carry your personal data, offer price, date of payment, payment method and any other detail considered important. If the seller agrees to the terms, a final sales contract is drawn. Phoenix direct management advises on doing this through an agent. In fact, the Japanese law requires the presence of a registered and licensed real estate agent. The agent would give you an explanation of some important matters. The terms of contract, date, date of payment, payment method, building management and legal limits are some of the important matters that can be explained. After all this, payment is made. If the purchase is sponsored, the bank providing the loan could make the payment. The foreigner is further required to register the new propriety right with the government through the Legal Affair Bureau. A "Notice of Information for Registration Identification" is given to the owner after complete registration. Acquiring property in Japan is easy especially with the help of an agent. Phoenix Direct Management is here to guide you through it all. Now is the best time to invest in Japan real estate.