The law lets you buy; the bank decides if you borrow

Japan places no residency, visa, or citizenship requirement on buying property — a foreign buyer gets full freehold ownership of both the land and the building, the same title a Japanese national gets. What stops people is credit, not law: most Japanese banks want permanent residency or a local sponsor before they write a mortgage, which is why so many foreign purchases close in cash. Title moves in the national property registry (登記), and a judicial scrivener (司法書士) handles the registration at closing.

The Japan Times reports that Tokyo used-condo prices fell for the first time in 28 months, with declines that began in the central wards now spreading outward. According to the paper, mortgage costs are climbing as the Bank of Japan raises interest rates and signals it is willing to tighten credit further, damping demand. Notice what that does to the story above: the buyers most exposed to a rate-driven cooldown are the ones who need a loan.

Brokerage commission in Japan is capped by law: 3% of the price plus ¥60,000, plus consumption tax, on anything above ¥4M. Buyer and seller each normally pay their own agent that amount, so budget for it on your side of the table. Cheap countryside properties are the exception — a 2024 revision lets agents charge a flat fee of up to ¥330,000 including tax on low-priced deals, which can look wildly out of proportion to the price on the listing.