Taiwanese increasing investment in Japanese real estate
The Taiwanese media have been featuring stories about the rising number of Taiwanese buying real estate in Japan. And it's not just private investors, but corporations are also increasing their investment in the country.
According to the China Times, China Trust Real Estate Co. formed a partnership with a Japanese agency (Kukan Produce, based in Fukuoka) in order to introduce properties in Tokyo to Taiwanese buyers.Read more
Yokohama developer teams up with Shanghai real estate company
Yokotoshi Kaihatsu announced on March 26 that they have formed a business partnership with Shanghai Dewei Real Estate. The business partnership was formed as Yokotoshi is nearing insolvency. Dewei will hold a 36% interest in Yokotoshi and will receive two seats on the board of directors.
With the steep rise in real estate prices in China's mainland, investors are seeking offshore investment opportunities. The partnership aims to introduce Japanese real estate to Chinese buyers. Dewei will also provide real estate services to Japanese businesses and clients who are looking for office and residential space in China.Read more
Chinese government buys 15,000 sqm site in Niigata
The Chinese government has acquired a 15,000 site in Niigata City to construct their new consulate. The site is larger than the Tokyo Dome and some are wondering why they need such a large property.
In 2010, China was going to buy city-owned land but local residents strongly opposed the sale and it was eventually cancelled. This time, however, the Chinese government purchased from a private individual, and local opposition groups did not find out until after the sale was completed.Read more
Saitama to keep close watch on forestry purchases by foreigners
In order to better understand the scope of the purchase of forestry by foreign funds and to protect water sources, Saitama Prefecture is planning to introduce rules which will require land transactions to be reported in advance to authorities.
The proposal will target 18 cities and towns in the northern part of Saitama. It will be submitted to the prefectural assembly this month, and may be enacted as early as October of this year.
Similar legislation is also going to be presented to the Diet session later this month, but it does not specifically mention foreign capital.Read more