OSAKA, May 19 (News On Japan) –
Foreign ownership of land in Japan has become an increasingly debated issue in recent years, and now the trend is spreading into Ashiya, one of the Kansai region’s most prestigious residential areas, where property prices are soaring amid growing demand from Chinese buyers.
[embedded content]
Ashiya, located in Hyogo Prefecture, has long been regarded as one of western Japan’s premier luxury residential districts, home to affluent families and sprawling estates. Residents describe it as a beautiful and highly desirable place to live, but locals say the area is now undergoing a noticeable transformation.
Real estate agents and residents report that Chinese buyers have been actively purchasing properties throughout the city, particularly in high-end neighborhoods such as Rokurokuso and the waterfront district of Shioya and Suzukaze Town, pushing prices sharply higher.
The surge comes as land prices continue rising in urban areas across Japan, fueled in part by the weak yen and increased purchasing by foreign individuals and overseas corporations seeking Japanese real estate assets.
Local real estate company president Yamamoto, whose family has operated in Ashiya for more than 50 years, said many properties in Rokurokuso are worth billions of yen once land and construction costs are combined, placing them beyond the reach of most buyers except the ultra-wealthy.
He explained that many long-time Japanese owners are forced to sell inherited estates because of enormous inheritance tax burdens that can reach into the billions of yen. Chinese buyers have increasingly stepped in to purchase such properties.
One residence, according to Yamamoto, was bought by a Chinese buyer for around 750 million yen before later being resold for approximately 1.2 billion yen. Another property believed to be owned by a Chinese national had reportedly been listed for sale at 1.6 billion yen.
Speculative buying involving both new and secondhand homes is also increasing, he said.
Videos promoting Ashiya properties have spread widely on Chinese social media platforms, with influencers describing the city as offering spacious homes, scenic views, and a quieter lifestyle compared with crowded city centers.
Particular attention has focused on Suzukaze Town, a relatively new waterfront community developed around two decades ago. Residents estimate that a substantial portion of newcomers are Chinese buyers.
According to Yamamoto, the area had once become less attractive to Japanese buyers due to concerns over disaster risks and falling land prices. However, it has become highly appealing to Chinese buyers for another reason: feng shui.
Residents and agents say the combination of ocean views and mountains behind the homes is considered especially favorable under feng shui principles.
Large Japanese homebuilders known internationally are also constructing new homes in the area, adding to the sense of security and trust for overseas buyers.
Japan’s comparatively low costs due to the weak yen are another major attraction. Residents interviewed said Japan offers safety, high-quality food, good public order, and relatively affordable living costs compared with major Chinese cities.
One Chinese homeowner who purchased property in Suzukaze Town invited reporters into his house, which featured expansive ocean views and multiple luxury bedrooms.
Asked why he chose Japan, the homeowner cited Japanese culture, education, food, scenery, and the friendliness of people.
However, the rapid increase in foreign residents has also led to friction within the community.
Signs written in Chinese warning against littering and improper garbage disposal can now be seen throughout parts of the neighborhood. Residents say garbage collection problems and littering have become increasingly common.
Some locals complained that the cleanliness that once defined the area has gradually deteriorated.
At the same time, some Chinese residents interviewed also expressed frustration with rule-breaking behavior by others, saying they personally try to follow Japanese customs and regulations but cannot control the actions of fellow residents.
Ashiya city officials said they have responded to complaints by preparing multilingual notices and guidance materials regarding garbage disposal and local rules, emphasizing the need to build a community that embraces diversity while maintaining public order.
Experts studying foreign ownership of Japanese land say Japan’s legal framework governing land purchases by foreigners has historically been relatively weak, even as foreign investment becomes a growing factor in rising property prices.
The Japanese government is currently investigating the situation and discussing potential rule revisions as concerns over foreign land ownership continue to expand nationwide.
Residents and experts alike say Japan will increasingly rely on foreign residents in the future, but stress that systems allowing people to share common rules and responsibilities regardless of language differences will become essential.
Source: KTV NEWS
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: newsonjapan.com
