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around 1.5% of purchasing price with a different measurement.
The stamp duty is an imposed tax to fixed document relevant to taxation article (taxable document)
When purchasing a Japanese property from over 10 million yen less than 50 million yen, you have to pay 10,000 yen as the stamp duty.
This statics was released on 19th of March. The whole country sales of department stores is also released at the same day. So I believe it is much easier to understand the current status when we use this statics together.
The foreigner sales in whole country sales of department indicates the high growth which extends 15 billion yen(+235%) The sales of Tokyo area is 117.4 billion yen, so it is obvious that contribution of the foreigner sales is high for expansion of the sales.
On the other hand, there are also a lot of cities which recorded a negative growth in local cities.
We can conclude that the property value of the Japanese cities is developing polarized. A fair wind is blowing about the property price in commercial area in Tokyo. This impact will lead to improvement of the renting supply and demand of the housing market in Tokyo.
The number of the visitors from overseas countries on Feb. of 2015 was 1.38 million (+57.6% yoy) and hit the historical record. The main reason was that the number of Chinese travelers who is likely to be a big shoppers increased by 159%. The land price of commercial area gets a tailwind.