Mitsui Real Estate Sales announced on August 24th that they have tied up with the Bank of China (BOC) to provide mortgages for Japanese properties to Chinese residents in Japan.
The new loan product was introduced by the BOC in June, 2011, and is aimed at Chinese who currently reside in Japan but do not have Japanese citizenship. Domestic Japanese banks can also provide financing but they have much stricter terms and conditions. The BOC aims to lower the hurdles to borrowing.
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