Interesting Properties in Japan

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Ibaraki llama
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Re: Interesting Properties in Japan

Post by Ibaraki llama »

LeeB wrote:
Wed Apr 24, 2019 10:00 am


What will probably happen is that when the person dies, nobody will inherit (refuse the property) and it will sit there empty accumulating back taxes forever.

I'd guess that there a millions of acres of land and houses in the same situation.

What a waste.
Yeah, the children have already said they don’t want it.

If it falls into the tax office’s hands they’ll try to auction it at unrealistic prices, eventually lowering it, wasting everyone’s time.

LeeB
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Re: Interesting Properties in Japan

Post by LeeB »

ANZAC Day holiday here in Australia, but I guess when you are retired everyday is a holiday!!

Browsing the RE pages I've found quite a few interesting properties which I'll put up over the next few days.

So taking a break from some garden work and will start with a very unique property.

First of all this property has a very high price tag especially considering the location: Chiba Prefecture and the actual physical structures. On the other hand what you ARE paying for is the location.

So first the price: 13,000万円. So well over US$1million.

Next the view:
View 1.jpg

The house:
House.jpg
Lower area 1:

Lower area 1.jpg
Lower area 2
Lower area 2.jpg
Inside:
Inside.jpg
Total land area is stated to be 4761 square meters and the house area a pretty good size of 278 square meters. One web site had a layout and diagram of the land and facilities, but now I can't find it!!

IMO a very interesting property for a number of reasons.

What do you think?

Listed at various sites:

https://house.goo.ne.jp/buy/uh/detail/0 ... 08026.html

https://o-uccino.com/front/estates/u0013553462

https://www.athome.co.jp/kodate/6963808 ... ist_simple

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Zasso Nouka
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Re: Interesting Properties in Japan

Post by Zasso Nouka »

That's pretty amazing, it would be like owning your own beach resort :lol:

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Re: Interesting Properties in Japan

Post by LeeB »

Well after having some beautiful fall weather , we are now having the opposite of that with cool, cloudy days and some very needed rain. The rain was needed in summer when the vegetable garden was supposed to be growing.

Big increase in fruit and vegetable prices here over the recent past. Pink Lady apples were A$7 a kilogram, but have now fallen to half of that at $3.50. We are still eating fresh Pink Lady apples from the tree and the Fuji's that were put into the fridge. The apples are super sweet and the Pink Ladies are juicy and quite large now. Yum!

The oranges are turning color too and should be ready to pick soon. Strange though that the freesia and some iris have poked through the ground already and the sasanqua are in full bloom. Even the hibicus are still flowering with the gardenias as well.

So to the next few properties.

https://www.athome.co.jp/kodate/1023076 ... ist_simple

From Chiba Prefecture and in Chiba City, but out in the 'sticks' away from any station is this property which consists of a small two story house on a nice size lot of 1187 square meters of land.

From the photos the interior looks to be in pretty good shape with some renovations done:

平成19年 2階和室を洋室に変更
平成28年12月 外壁塗装、屋根補修
平成30年4月 ユニットバス新規交換

The price is 1,480万円.

The price of the this house is lower than the next one I'll put up probably because of the restrictions on building:

"本物件は都市計画法第34条第14号の規定により、同一敷地・同規模であれば再建築可能です。
 なお、建築可能な敷地は上記敷地のうち344.44平米です。それ以外の敷地には建築物を建築することができません。再建築の際は千 葉市宅地課にて許可申請が必要です"
Chiba house.jpg
And a photo of the land:

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Re: Interesting Properties in Japan

Post by LeeB »

Next up is a property in the same Ward in Chiba City:

https://realestate.yahoo.co.jp/used/hou ... 1a1id4xKU/

This one has a little bigger land area at 1489 square meters and the house clocks in with about 50% more space at 164 square meters. This one is also out in the 'sticks' as well with no really convenient station either.
House.jpg
The price is 1,890万円.

Although the photos show some of the interior, the previous property seems to be in better shape.

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Re: Interesting Properties in Japan

Post by LeeB »

Well I hope the spring weather in Japan is nice.

Here in Melbourne we've been having typical crappy weather that we are so famous for. Of the last twenty days, 18 of them have had lower than average sunshine and it has been rainy, cloudy and cool to cold. Makes the solar hot water and solar electricity systems basically useless, but on the other hand the Pink Lady apples are still on the tree getting bigger, sweeter, and juicier!! Picked 2 1/2 kilos the other day and still have more left.

Unfortunately those pleasures are not available to you if you live in one of the many high rise condos in Japan. You'll have to settle for a nice view, sometimes a small balcony, or in a few small cases one big enough to grow a few plants on.

This property is again from Chiba Prefecture and is one of the many fronting the Bay.

In fact the name of the building is The Bay Front Tower and Residence:

https://www.athome.co.jp/mansion/103652 ... ist_simple

There are a number of condos for sale in the building so I just picked the highest floor unit I could find.

The condo is on the 20th floor and looks toward Tokyo. The price is very high at 9,680万円 so just under US$1 million or so.

For that price you'll get a 4LDK with a good size area of 114.99m² and pretty new construction from 2015. You'll also get some outstanding views. You won't get a second toilet though.

One interesting aspect of this property is that it comes with a pretty good sized 'private garden' for residents to use.

However, what you WON'T get is the land underneath the condo. You'll rent it for the next 30 years (well the remaining 25 years or so) and I'm a little uncertain what happens in Japan when the land rental contract runs out. (I'm too lazy to read the legalize in Japanese!!) The term in Japanese is 普通地上権 if you want to look it up.

But the cost of the land rent is: 13,600円 per month. The other fees are reasonable for a condo this size and price:

管理費等: 27,600円
修繕積立金: 11,500円

Parking is available for 15,000円/月 and the location isn't that great as it is between two station near the Bay.

I'd rather have the condo in Sapporo (looks like it was sold pretty quick!!) which I put up a while back or the condo in the next post. So I'd pass on this one although the views are pretty good.
4.jpg
4.jpg


2.jpg
3.jpg

Ibaraki llama
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Re: Interesting Properties in Japan

Post by Ibaraki llama »

gaijinfarmer wrote:
Sat May 11, 2019 4:22 pm
LeeB, when you say property tax accumulates on uninhabited buildings, is that liability carried with the property to any new owners? Or will the city forgive all/part of the debt or consider it paid with the purchase price?
When we bought our property from the tax office we did not inherit the tax liability.

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Re: Interesting Properties in Japan

Post by dayunbao »

I found this property while poking around the other day and instantly fell in love with it:

https://e-iju.net/akiya/public/Object/Detail/1182

Funny thing is that I was using Google translate to view the page in English, and sometimes Google translate goofs up the price of the homes. So the house was showing as costing 1,000,000 Yen instead of the actual price, which is 10,000,000 Yen. A big difference! Anyway, the house and property are gorgeous, and are still dirt cheap compared to what something like that would cost in Southern California (where is would probably be $10 million USD and not 10 million Yen). If someone could handle small island life, I think this house would be a keeper!

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Re: Interesting Properties in Japan

Post by LeeB »

gaijinfarmer:

Hi, I'm not 100% sure, but I think it depends on who you buy the property from.

In a private sale all of the back taxes and other monies owed would more than likely pass on to the new buyer UNLESS payment of those items by the seller was included in the contract for sale. And in the case of lots of back taxes or other fees owed, I'd be sure to have it all paid and settled before taking title. And in that case they wouldn't be selling as they'd end up losing a fortune if they had to pay!! (So why not just abandon it and not pay a thing?)

This is one of the problems that I've seen written about in regards to all those empty condo units in resort areas that are for sale for at really cheap prices. You know the ones that are going for 100,000 yen?

They owe not only back taxes, but all those monthly fees on the condo which can add up to millions of yen.

On the other hand, at shown by Zaimondos sales through the Tax Office usually include the back taxes owed, but if buying one of those properties, I'd be sure that those taxes are included and wiped off the board in the terms and conitions.

As an aside, there are numerous tax sales of land in the USA. These used to be relatively unknown many years ago (50 plus!!!) and you could pick up property at a very cheap price. My father bought some 40 acres of woodland through this process.

There were (are yet??) two types of 'tax sales' in the USA:

1. Tax lien

2. Tax deed

In the first you buy the taxes due and earn interest on the money. If the owner doesn't pay, then you can go to court to assume ownership of the property.

In the Tax deed case you are actually buying the property and ownership passes to you upon payment of the money. (In this case the owner of the property has up until you pay the money to pony up the overdue amounts to reclaim the property.)

Of course, way back then the price of land in the USA out in the country areas was really, really cheap. Canadian forest and lake land was even cheaper.

You could buy woodland for US$100 an acre and the wood on the land was worth multiples of that as firewood............

As cleared farmland the price of that land is now about 20 times that!!!

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Re: Interesting Properties in Japan

Post by LeeB »

The next interesting property is again a building that many of you have probably walked by. I have.

This one is located in Yokohama and is almost next to one of the 'mon' in Chinatown.

https://www.athome.co.jp/mansion/103663 ... ist_simple

The price is of course high which reflects not only the size of the condo, but the location,the view and the fact that it is a penthouse type unit. As far as location in a big city, you couldn't ask for more. Right next to Chinatown in Yokohama, the building is very close to a subway station, Yamashita Park , and the Motomachi Shopping area.

The cost is 15,000万円 and the fees are:

管理費等 33,470円
修繕積立金 18,560円

And of course with the condo having a rooftop terrace, they have to hit you with a fee for that as well, but in this case it is only ( ルーフバルコニー使用料:)1,200円.

So for that price you get a reasonable 3SLDK with some 123.70m² of space and a nice rooftop terrace which you can sit at outside, have a nice meal, and watch the Bay Bridge and some city lights at night. And again as usual with many of these condos, you only get one toilet.

Now the photos:
Floorplan.jpg
View.jpg
Building.jpg