Japan is expressing renewed concerns about foreign nationals buying land and property across the country, with growing alarm over the acquisition of property close to “sensitive sites” as well as overseas investors causing prices to spike beyond the reach of many Japanese.
A survey conducted by the Cabinet Office identified 113,827 property transactions in the year that started on April 1, 2024, in areas within 1km (0.6 miles) of a designated “critical facility”, such as a military base for Japanese or US forces, a government building, or key infrastructure, such as an airport, power plant, seaport, major road or rail bridge.
The report, released on Tuesday, showed that 3,498 of these properties, or about 3 per cent, were bought by foreign individuals or organisations. The 1,744 parcels of land and 1,754 buildings were close to 583 sites listed as “monitored areas” or “special monitored areas” under a 2022 law.
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Transactions were reported in 37 of the nation’s 47 prefectures. Mainland Chinese bought 1,674 properties, far ahead of the 414 bought by Taiwan residents, followed by South Koreans at 378 and Americans at 211.
The Mainichi newspaper reported that 1,558 of the transactions were for flats in Tokyo.
And while the report suggested the deals appeared to be for investment purposes, it did note that a number of the properties were close to Self-Defence Force facilities in the city, as well as the research centre operated by the Acquisition, Technology and Logistics Agency. Others were close to US military installations.