Ultimate Guide To Selling A Home
Looking to sell your house in Japan? Look no further, our comprehensive guide offers valuable insights and expert advice on navigating the Japanese real estate market, ensuring a smooth and successful sale. From understanding the fees and costs involved to maximizing your potential return on investment, we’re here to provide full support every step of the way.
Steps Required When Selling A Property In Japan
From the initial inquiry and listing price setting through to the formal application and transaction, here we outline the basic steps for selling a property in Japan. Contact our team to discuss the process in further detail.
Costs And Taxes When Selling A Property
There are a number of fees that are required to be paid when selling a property in Japan. Here we outline the general case. Get in touch to discuss this in further detail.
| Fee | Agents Fees (仲介手数料) | Property Price × 3% + JPY 60,000 + 10% Tax | |
| Other Cost | Judicial Scrivener Fee, House cleaning etc. | ||
| Taxes | Capital Gains Tax (所得税) | Non-resident Seller: Income Tax (所得税) | If held less than 5 years: 30.63% If held for more than 5 years: 15.315% *Based on Net Income |
| Resident Seller: Income Tax and Resident Tax (所得税 and 住民税) | If held less than 5 years: 39.63% If held for more than 5 years: 20.315% *2.1% of the income tax is added as special income tax for reconstruction **Based on Net Income | ||
| Stamp Duty (印紙税) | Differs according to Price: JPY 10,000 – 480,000 | ||
Points to note:
- Above tax rates are for the general situation. There may be deductions that can be applied on a case by case basis, dependent on property type and purchasing purpose.
- In regards to withholding tax: when the seller resides overseas, the buyer, instead of the seller, will pay 10.21% of the price to the tax office directly, and pay the rest of the amount to the seller. The seller will receive a refund from tax office the following year (apply between February 16 – March 15, and expect to receive the amount in May or June).
- If property being sold is still under mortgage with an overseas bank, some additional fees may apply, depending on the bank’s rules and regulations.
Ready To Sell Your Property?
Schedule a free consultation with one of our dedicated Selling Agents and get a free property valuation. Feel free to get in touch with any other enquiries.
