OK… I stupidly bought Yen before the rate went through the floor.
I now have a surfeit of the blooming things.
Currently renting and having most of the rent paid by the company.
Is the perceived wisdom that buying an apartment or house in Japan, is still an extremely stupid idea financially?
I’m going on the last time I looked at the idea (a few years ago) and was told that I needed to go and see a Psychiatrist.
But surely things have changed?
The impression I was given then, was that the buildings were worthless and only the land had any value… and apart from any rental income generated or rental expenditure saved, it was a massive no-no.
But surely people buy and sell property all the time?
1 comment
In Japan you generally buy a house to live the rest of your life in, not as an investment like western countries where you trade up every 10 years or so. If you plan on staying in Japan for a very long time it is something to consider.
Land holds value, buildings don’t. So you generally want to buy good land because in the end, that’s all it’s worth. If you buy cheap land that no one wants or is in a hazard zone, it’s not going to be worth much in the future.
We just bought a house in Japan this year and the way I look at it, in 40 years when my wife and I are old we won’t have to pay rent and throughout that time we can do what we want within reason to the property. When we pass away, our son has a piece of land that is worth a decent chunk that he can do as he pleases with.