Property market in Japan is stagnate. Not only are there bvery few ‘interesting’ properties to be bought, but they are usually too expensive. You’d be lucky if you could buy your first property in your 40s, and in your 50s the mortgage will strain your pension life – but never in your 30s, it’s impossible. Another problem is the fact that houses in Japan usually devalue over time, making it almost impossible to realise the property-ladder, to make a fortune by buying-to-sell.
Or, people are simply not ambitious in owning a property in general? I don’t know. But until I saw British property market, I’d never thought of doing what I’m about to do now.
I’ve been keeping an eye on property auction in my home county for a while now, and looked into some possibilities but never got round to participating – let alone purchasing a property. This is my third time I found a suitable property at the auction, and my parents like it also. So I’m preparing documents and money for it.
It takes place early March, and will know the result towards the end of the month. Mmm, am very anxious already.
It’s a 5-bed detouched house, in a good location near my parents’ shop.
And its worth is 2,930,000 YEN – appx £15,000. Not bad, eh. And the price includes the land.