The insurance gap under every Japanese roof

Standard fire insurance (火災保険) excludes earthquake damage — including fires started by an earthquake. Covering Japan's signature risk takes the separate earthquake rider (地震保険): government-backstopped, only sold attached to a fire policy, and capped at 50% of the fire policy's value. Premiums swing sharply by prefecture and by structure — wood costs more than concrete — while newer, quake-resistant buildings earn discounts.

Capital gains on Japanese property are taxed at roughly 39.63% if you've held 5 years or less — and roughly 20.315% once you're past five. The clock is read as of January 1 of the sale year, not your purchase anniversary, so a hasty flip can land on the wrong side of a rate that nearly doubles. One softener: selling your primary residence can qualify for a special deduction of up to ¥30,000,000 of gain.