Registration tax is the imposed tax, when you register your asset on legal affairs bureau. When purchasing Japanese condominium of 20 million yen to 50 million yen,

you should pay around 300,000 yen.

Department stores sales April +13.7%

 

Sales for foreigners tripled. Japan department stores association released the April sales. The sales increased +13.7% yoy. One of the main reasons is the same period of last year the consumption tax rose. The other reason is sales for foreigners tripled.

On the other hand it means the sales for domestic declined.

Sales for foreigners hit the record high, 19.7 billion yen. It accounted for 4.1% of the total sales.

Provided that the property price in commercial area is affected by the sales, hereafter it would be more affected by world economy and the yen in depreciation.

 

Mansion price increased +5% (yoy).

The story on the street is as below.

 

1. The property market shows sign of change (down direction) from one of the property loan officer.
2. Property agents excluding in 5 main districts in Tokyo are having a hard fight despite of hike in property price in Abenomics and the main buyers are from China from the web builder for property agents.
3. Our clients are buying 80 million yen mansion in average from the salesman who work in Tokyo for Taiwan property agent.

 

Today is the settlement date which I have worked for the seller.   That reminded me of one tip that we should mortgage your properties.

The necessary documents to change the ownership are as below.

 

Notice of information for registration identification (which only the owner knows)

Company stamp (which the owner keeps)

Certificate of the company seal impression (the only owner can apply for the legal affairs bureau)

Certification of whole data for the property (anybody can take)

Certification of assessed value of fixed assets (the only owner can apply for the legal affairs bureau)

 

To change the ownership, the sellers are required to put your seal and visit the legal affairs bureau)   However you can assign a representative to acquire the documents. Some owner who has lack of attention to read the documents would put his seal on any documents. As most owners has lack of trading opportunities, once they rely on someone, they would put his seal on any document.

 

When owners intend to sell the property with the mortgage (even when not intending to), it will be reviewed by loan holder.   It means the mortgage is strong deterrent to the trouble.