This is my in-laws' house in Fukuoka, Southern Japan. It is 42 years old and is about an hour drive from Fukuoka Airport. The house is situated in a quiet neighborhood void of restaurants, supermarkets and other amenities. The nearest supermarket and restaurant is 20 minutes drive away.
I was told the value of the house is zero but the piece of land could fetch about S$120,000 which was the price they initially paid for in 1975. The freehold land is about 1,200 sq feet.
They may want to sell it and buy a new one in a place that is convenient to them but it would cost them a lot more. A 2-storey house like this one in a better suburb may cost about S$360,000 which is still much cheaper than in Singapore.
Land in Japan is not as expensive as in Singapore. My friend who bought a 10,000 sq feet freehold land with a house in Singapore in the 1970s for S$70,000 could easily fetch between $6 million and $8 million today.
6 comments:
BT, can foreigner buy homes in Japan? Also can we live there for retirement?
BL, foreigners are allowed to buy homes in Japan. There is no such a thing
as retirement visa but one may stay in Japan for a max of 3 months continuously on a
tourist visa.
It just hit me that your wife is Japanese.
You can live there! Me only 3 months:(
BL,I am like you only 3 month stay but I am
going to apply for a spouse visa which is
like a PR and can live there for a long period of time.
Nice!
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