When is the best time to buy a new apartment?

Why you risk paying up to 15% more if you buy off-the-plan

With the price of new apartments in Tokyo's 23 wards up 4% over the past 12 months, and a contract rate of 82%, many buyers may feel pressured to make their purchase sooner rather than later. But should you rush into purchasing a new apartment off-the-plan or is it better to wait until the apartment is completed?Read more

by Zoe Ward

Can I hang Christmas lights on my balcony?

Apartment dwellers may want to get into the Christmas spirit by hanging lights on their balcony, but they should be aware that their building's management association may have rules that prescribe if and how they can hang lights.

While you have exclusive ownership of the inside of your apartment, your balcony is technically part of the building's public space with usage rights granted to the apartment owner. As such, owners and tenants must follow the rules for the use of balconies which are set out in the management agreement.Read more

by Zoe Ward

Cheats and tricks in real estate advertising

Japan has rules that regulate real estate advertising to consumers, but they are self regulated by nine organizations across the country. One of those organizations is the Real Estate Fair Trade Council of greater Tokyo. According to the Council, the number of illegal advertising tricks by real estate companies is increasing online. The most common of these tricks is bait-and-switch and misleading advertisements.Read more

by Zoe Ward

Apartment discounts - what can you reasonably expect?

One of the most important aspects when buying an apartment in Japan is negotiating on the price. Am I getting the property at the right price? What is a reasonable discount to ask for? Do Japanese even negotiate on prices? These are all questions that may cross the minds of foreign buyers.

This is also an important point to consider when it comes time to selling your property. While you may have negotiated down the price when you purchased your home, you should also assume that you may have to accept a discount if you decide to sell your property in the future.Read more

by Zoe Ward

Did you know: Atami City has a special tax on holiday homes

The popular beachside resort area of Atami in Shizuoka levies a special tax on owners of holiday homes and resort apartments within the city. Called a "besso" tax (besso = holiday house), it is very similar to a municipal tax. This tax is only charged on properties in Atami City, and is not found anywhere else in Shizuoka Prefecture.Read more

by Zoe Ward

Consumption Tax Increase: How will it affect buying apartments still under construction?

With the planned increase in consumption tax receiving approval by Parliament last Friday, buyers of as-yet uncompleted apartments may be hit with the higher tax.

According to the tax plan agreed to on August 10, the consumption tax will increase to 8% from April 1, 2014, and 10% from October 1, 2015.Read more

by Zoe Ward

What is the lifespan of an apartment in Japan?

It is a commonly held idea that homes in Japan only last 30 years before they deteriorate to a state where they have to be torn down. But how accurate is this statement, and what about the lifespan of apartment buildings?

"Japanese homes do not last as long as European or American ones"

Japanese residential properties are thought to have a lifespan of 30 years. In America that number is 55 years, and 77 years in England. Many apartment buyers hold the same belief and think that an apartment can only be held for 30 years. However, this assumption is incorrect.Read more

by Zoe Ward