You can probably guess that there will be other costs and taxes in addition to the price of the condominium. Let us take a closer look at what these costs are before you make your purchase.

In the case of getting a loan, depending on your age and income, you can secure up to 70% for the loan, but usually we advise our customers that most people can obtain 50% for financing with a bank, as the required salary for 70% financing is relatively high for many buyers.

One will have to prepare 20% of the deposit in cash, as well factor in approximately 5-8% of the purchase price for other fees.

Let us take a look at the other costs you’re looking at when purchasing a property selling for 30 million JPY.

As you can see, the costs do add up to a pretty significant amount, so it is important to ask your agent/seller to give you what these costs will be. Registration cost loans are actually available, but because this will only increase your debt and since nobody likes debts, it is better to factor in these costs plus your deposit.

In the next article, we will cover acquisition and running costs. Stay tuned!