Wise and Revolut give you mid-market rates with transparent ~0.5% fees. Roughly ¥6,000 saved on a $1,500 trip. Order before you fly and you'll skip the counter queues entirely.
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Japan Real Estate Purchase for Foreigners — Complete Guide
⚡ 30-second answer: Foreigners can buy regardless of visa or nationality. Price range ¥30M-300M, with a 20-30% down payment, 6-10% closing costs, plus registration tax, real estate acquisition tax, and fixed-asset tax. Mortgages are possible with permanent residency or a spouse visa, primarily through SBI, Rakuten, and Tokyo Star Bank.
Quick Reference
Value
Used 1LDK in Tokyo 23 wards
¥30M-70M
New 2-3LDK in Tokyo
¥80M-200M
Luxury tower condo
¥150M-300M+
Closing costs (% of price)
6-10%
Last verified
June 2026
✓ Last verified: Jun 2026
📖5 min read
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Contents
30-Second Answer
Anyone can buy property in Japan regardless of nationality or visa status. Foreigners receive full ownership rights, and permanent residency is not required. Pricing: ¥30M-70M for a used 1LDK in Tokyo's 23 wards, ¥80M-200M for new family units, and ¥150M-300M+ for bayside towers and central luxury units. Closing costs are 6-10% of the price (3% + ¥60,000 broker fee, registration tax, acquisition tax, stamp duty, judicial scrivener fees, etc.). Foreign nationals with permanent residency or a spouse visa can obtain mortgages; others typically need to pay cash. Annual running costs include fixed-asset and city-planning taxes (0.3-0.5% of price) plus management fees and reserves of ¥20,000-60,000 per month.
Registration tax: Assessed value × 2.0% (transfer of ownership)
Real estate acquisition tax: Assessed value × 3-4% (within 6 months)
Judicial scrivener fees: ¥80,000-200,000
Fire insurance: ¥10,000-50,000/year
Earthquake insurance: ¥10,000-30,000/year
Down payment: 20-30% (with mortgage)
Loan handling fee: ¥30,000-300,000
Guarantee fee: 0-2% of loan amount
Management fee: ¥10,000-40,000/month
Repair reserve: ¥10,000-30,000/month
Fixed-asset + city-planning tax: 0.3-0.5%/year
A handy rule of thumb: total cost = property price + 6-10% (closing costs).
🌐 Foreigner-Friendly Services
English-speaking brokerages include Plaza Homes, Ken Corporation, Mitsui no Rehouse (foreign desk), Tokyu Livable's foreign desk, and Sumitomo Realty's English Desk. Mortgage windows: SBI Shinsei, Tokyo Star Bank, Rakuten Bank, and Sony Bank (limited) offer English consultations for holders of permanent residency or a spouse visa. Wiring the down payment via Wise, OFX, or Revolut Business converts to JPY at rates 0.3-1.5% better than direct SWIFT. The Japanese contract takes legal precedence — English versions are reference only. Pick a judicial scrivener and gyoseishoshi with experience handling foreign buyers.
⏰ Purchase Flow
STEP 1: Property search (SUUMO / HOMES / Real Estate Japan / Plaza Homes)
STEP 2: Viewings and inspections
STEP 3: Submit Letter of Intent
STEP 4: Pre-screening for mortgage (foreigner-friendly bank)
STEP 5: Sales contract + earnest money (5-10% of price)
STEP 6: Full mortgage approval
STEP 7: Final settlement + registration
STEP 8: Handover
STEP 9: Real estate acquisition tax (after 6 months)
STEP 10: Fixed-asset tax starts next year
Contract to handover usually takes 1.5-3 months.
💳 Payment Methods
Down payment / final settlement: Bank transfer (via Wise/OFX possible)
Earnest money: Cash or transfer
Closing costs: Mix of cash and transfer on the day
Mortgage: Requires permanent residency or spouse visa (limited exceptions)
International wire: Wise / OFX / Revolut Business
JPY account: Open a Japanese bank account before buying
FX hedging: Consider forwards for large amounts
Credit card: Some closing costs only
ATM: Bring your inkan, residence card, and passport
For a ¥30M down payment from USD, Wise charges roughly 0.4-0.6% in fees (depends on the period).
⚠️ Things to Watch Out For
Visa status: Tourist visa is OK for purchase but not for mortgages
My Number: Required at tax filing; obtain with your residence card
Mortgages without PR: Only some banks, with rates 0.5-1% higher
Joint ownership: Watch gift-tax implications between spouses
Leasehold properties: Different from freehold — verify carefully
Non-rebuildable: Avoid properties without legal road access
High-floor tower units: Higher floors face an upward fixed-asset tax adjustment
Capital gains: 20-39% separate-rate taxation on sale profit
5 Common Tourist Mistakes
Missing closing costs: Budget price + 6-10% from day one
Trusting the English contract: Japanese version is legally binding — have a specialist review
Expecting a mortgage on a tourist visa: PR or spouse visa is required
Forgetting acquisition tax: A separate bill arrives 6 months after purchase
Ignoring management fees and reserves: ¥20,000-60,000/month is forever
Pre-Trip Checklist
Lock in visa status and budget (¥30M-300M)
Prepare passport + residence card + My Number
Open a Japanese bank account
Set up wire routes (Wise / OFX) for the down payment