- 17 Jan 2004
Lots of people all over the world are moving to Japan. Here's an article by the Japan Times on whether buying a house in Japan is better than renting one, or vice versa.
As of Dec 31, 2002, a total of 1,851,758 foreigners were registered with immigration authorities in Japan. That's about 1.5 percent of this country's population. But it's an exceptionally diverse group and comprehensive information on their housing conditions is difficult, if not impossible, to come by.
One thing for certain is that misconceptions on the topic of home ownership by foreigners abound.
Take visa status. Despite beliefs to the contrary, you don't need permanent resident status to buy, or even obtain a loan -- although it helps. In fact, as long as you can come up with the funds, there's nothing to stop you from buying property in Japan on a short-term visitor's visa.