Japan Foreclosed Property 2015-2016 - Buy this 5th edition report!

Over the years, this ebook has been enhanced with additional research to offer a comprehensive appraisal of the Japanese foreclosed property market, as well as offering economic and industry analysis. The author travels to Japan regularly to keep abreast of the local market conditions, and has purchased several foreclosed properties, as well as bidding on others. Japan is one of the few markets offering high-yielding property investment opportunities. Contrary to the 'rural depopulation' scepticism, the urban centres are growing, and they have always been a magnet for expatriates in Asia. Japan is a place where expats, investors (big or small) can make highly profitable real estate investments. Japan is a large market, with a plethora of cheap properties up for tender by the courts. Few other Western nations offer such cheap property so close to major infrastructure. Japan is unique in this respect, and it offers such a different life experience, which also makes it special. There is a plethora of property is depopulating rural areas, however there are fortnightly tenders offering plenty of property in Japan's cities as well. I bought a dormitory 1hr from Tokyo for just $US30,000.
You can view foreclosed properties listed for as little as $US10,000 in Japan thanks to depopulation and a culture that is geared towards working for the state. I bought foreclosed properties in Japan and now I reveal all in our expanded 350+page report. The information you need to know, strategies to apply, where to get help, and the tools to use. We even help you avoid the tsunami and nuclear risks since I was a geologist/mining finance analyst in a past life. Check out the "feedback" in our blog for stories of success by customers of our previous reports.

Download Table of Contents here.

Saturday, August 28, 2010

Talk of BOJ weakening the yen

Almost on cue the Japanese government is calling on the Bank of Japan to ease monetary policy. Such pronouncements of course provide support for the Yen, but rest assured there will probably be a crisis of some form to get the yen to 81Y support.
See the full story at Japan Times.

Philippines property - contrarian investment

Property investors beware. You are about to be introduced to one of the best opportunities to buy property you will ever have. The Philippines has long been the 'dislexic' tiger of Asia. It always had a lot of promise, but it could never overcome the legacy of corruption and inept administration. There is perhaps ever reason to think that a solution is not far off, but it will be another 6-8 year. In the meantime, there is every reason to think that the economy will perform ok.
There is good reason to think you will get a great opportunity to buy property there. The reasons are explained in this post I wrote about the current president Noy Noy Aquino. I believe there is very good reason to expect a 'Thai style' military coup. This is of course the time to research, to set up your bank account, and to be ready to transfer funds. During the last crisis - the Asian Currency Crisis - a large amount of money was made and lost.

The implications are that you will never get a better chance to buy property in the Philippines. Any such military-police takeover of government will result in the Philippine peso plummeting to new lows. Check out the currency here, whilst I have indicated support levels on the following chart.
This is the time to be a contrarian investor - both for foreigners and Filipino expatriates. The Philippines is a good long term story. The population is growing at 2% per annum, the economy benefits from a lot of remittances from expatriates abroad, it is the focal point for outsourcing of Western businesses professional services like call centres, etc. The benefits will not be confined to Manila. It is also just a 'stones throw' from China, so expect a lot of tourism, investment when China becomes overheated. The Philippines already has a large Chinese community.
We have written a Philippine Real Estate Guide (2 eBook set) which describes the opportunities in the Philippines property market.

Tuesday, August 24, 2010

Premium NZ property anyone?

Harcourts NZ, the local property brokers, have flown company representatives over to China and Hong Kong in order to sell a package of high-end NZ properties. NZ is of course an appealing market because of its idyllic natural environment, however given the small size of the local economy, during an economic squeeze like the current recession, it is often difficult to find buyers.
Prospective buyers will need to contend with the local foreign investment restrictions. Among the properties available for purchase are:
1. Private islands
2. Agricultural properties
3. High end residential apartments

Prospective buyers might be interested in our report on the NZ property market.

Sunday, August 22, 2010

Should you buy property in Japan?

Now is not a bad time for Australians or Canadians to buy property in Japan, but Americans ought to be sending their money the other way. Consider my latest blog post in my Forex blog. The USD is narrowing the gap with its lowest exchange rate for the yen ever. I don't expect the Yen to breach this level by much. There are 2 reasons:
1. The Japanese government has their own deficit to finance, as well as wanting to stabilise deflation in the country. For this reason I expect the Japanese government to resort to printing money in order to stimulate the economy. This might be performed by offering greater welfare. Certainly the Democratic Party of Japan is the party to implement such a policy. This will of course stimulate some domestic spending.
2. The other reason is the uncompetitiveness of Japanese exporters. This is not a desirable quality, though perhaps there is no hurry, since global demand is pretty weak.

The US presents a far better prospect for investment at this time, and the prospect of the USD falling to 81.86 yen over the next few weeks provides you with the best opportunity to shift your money. This is easily said if you hold Japanese equities, but a little harder if you are holding Japanese property.
Of course the fact remains that if you are living in Japan, you need to live somewhere, and if you are planning to spend a long time there, you may as well buy a place there. But I would only buy if you are planning to buy in the outer suburbs (with are cheaper). I would not be buying into any growth boom. But the very high yield of 12% does make buying more sensible than renting. Of course since is Japanese low interest rates you are using, there is some scope to leverage your investment in Japanese property. Rest assured that Japanese (and indeed international) interest rates are going to remain subdued.

Tuesday, August 17, 2010

Australian property - Morgan Stanley misguided

I am going to weigh into the Australian property debate. The issue was sparked by an academic Steven Keen, who was unsurprisingly proven wrong with assertions of a dire collapse in Australian property prices. Its just not going to happen. Now there is a guy from Morgan Stanley saying there will be a slow decline in Australian property prices. I care to differ. The reasons are the following:
1. Interest rates in Australia will not rise, the Australia dollar will go up. Is that a concern? No, because I think commodity prices will be buoyant, and the govt would prefer commodity producers to suffer rather than homeowners.
Sydney, CBD, 2009
2. There is a raft of huge energy, iron ore, coal, coal seam gas projects to be developed in Australia, each spelling a huge amount of investment in the country
3. There will be a raft of Chinese and Indian investment in these projects over the next 2-3 decades, and that will free up Australian equity to fund all manner of investments and consumption, not to mention tax receipts.
4. There is still strong (i.e. bent up) demand for first homes and home upgrades, and that will continue
5. Neither government is going to allow land releases to severely undermine urban land prices. I see utterly no discussion on land zoning.
6. Mineral exports will increase over this period because of strong demand from China and India. China is not going to stop spending. It is finding even more reasons to invest. It now has to produce a lot of its own iron ore because Australia, Brazil and India are playing hard ball. So they will need new steel mills, new power stations, new railways, etc.
Mosman - Lower North Shore, Sydney, NSW

We are in the midst of an economic era which will never be seen again. There is really no historical precedent for the period we are currently passing through, and it will not be repeated again on this scale. You have half the world's population undergoing liberalisation, at a time when population growth rates can only fall, so the stimulus is never going to be greater from population growth. Even if governments ceased to be centrally controlled, and reason was the standard of value, it is doubtful that the current wealth production would be achieved because of the reliance on consumption by politicians (i.e. Because they undermine productivity through their very existence).

For this reason, I don't see a collapse in Australian property prices, or even a slow leak. I see a government which will be looking to achieve a sideways movement in property prices in order to allow household debt levels to come down. If they spark a property bubble by preventing interest rate increases, they will leave voters with no one to blame in an uncertain international climate. They will be able to do this because employment, immigration and capital inflows will sustain economic activity and per capita incomes.

There are however some caveats to this:
1. If the Liberals win government, they plan to cut immigration so this can be expected to reduce demand for property. I don't think this will have too much difference.

Friday, August 13, 2010

Buying foreclosed property in Japan

It has been a while since we described the opportunities to buy foreclosed property in Japan. The lowest priced properties are of course in the rural areas. For example, in order to impress upon you the opportunities, I did a random search of properties on the http://bit.sikkou.jp website.
You will need to use a translating tool like Google because the website is in Japanese. Court documents are in Japanese as well. I am used to dealing with these documents because they are in a standard format. Maybe you can find a Japanese student if you need help. Pictures convey a thousand words, and the court gives you 10-20 photos. They are very fair minded, with an attention to detail.
I chose one of the cheaper rural areas on the more populated East Coast, close to Osaka City. The region is Wakayama. It is a Y2.1mil ($US22,000) two-storey house, basically $10K for the house, $10K for the land. Some houses have been trashed. This place is untidy, has some 'collateral damage' from the alcoholic who is currently residing in it. How do I know? Well there are crates of alcoholic bottles sitting outside the premises, and at the time the house was photographed, there was still someone living there. If you visit you can find out if he is still living there. Talk to the neighbours. The property detail inside also suggests atypical damage and regard for the property, but really such issues are cosmetic given the price you would be paying. Structurally, the building is probably find. You will likely go there to confirm. You have a period of time during which the courts will help you evict the previous owner. That is of course assuming its a problem. Most leave of their own free accord. If they don't most people simply pay them off rather than go to court. There is a process whereby you can pay the court to store their possessions, but since the evictee needs money rather than a court drama, most simply leave with your cash incentive. Better not to deal with drunks with a chip on their shoulder. How do you know? Talk to the neighbours, establish if they have moved out already. Fortunately, the courts photos give you a great deal of info on the tenants/owners, and they are very fair in their property description. Remember, in Japan you are dealing with the court system, not some agent with a vested interest. This $US21,000 house is 102m2, so its typical Japanese/European size. The land size is going to be small, but if its a holiday house, I think most of us would be happy with a 'crap hole' if you are only paying $21K. Land rates on this property are probably $300 per year, given the location and age of the house, and given the small investment, you would not even bother insuring it.
These types of places are great if you are free to work from home and travel, like being a programmer or graphic designer. In Japan you can get pre-paid internet modems, and no place is too far from the shops. A scooter is another great accessory to get around, or because of great infrastructure, even a bicycle is enough. What more do you need? You need to look at more properties. I use the hyperdia.com tool to find train stations to locate a property, then the map provided to find the specific address. I use Google Maps to look around the vicinity of the property, both the street and satellite view. Train lines are important. Make sure you are buying land, as opposed to buying a house with a lease of land.
All the best with your search!

Tuesday, August 10, 2010

Australian property market - election implications

The appeal of the Australian property market might take a hit next year for two reasons:
1. If Labor is elected mining investment will be hit. The response might take a few years to be felt because most advanced project investments are committed.
2. If the Liberals win they plan to reduce immigration to 170,000 from 300,000 currently. The implication is that housing demand will be weaker, and thus property prices more subdued than they otherwise would be in the cities.

NZ Property Guide Philippine Real Estate GuideForeclosed Japan Guide

Monday, August 9, 2010

Comparing NZ and Australian property markets

St Arnaud Lake, South Island, New Zealand
Here are 10 good reasons why not to buy property in NZ by Bernard Hickey at the NZ Herald. I might add a few more if it pleases you, as well as some good aspects:
More bad news
1. Food prices will perform well in future, though I think Australia will do better with food, minerals and heaps more minerals. Australia kind of has a global monopoly on coal & iron ore development. I can probably identify 60 projects in Australia which have the capacity to last 30 years. There is just so much ore. Even the crappy 30%Fe can be processes simply for 55%Fe. Its not to far from the coast, and there is good infrastructure, and foreign buyers of the stuff prepared to spend money to develop it. There is going to be a lot of money going into Australia. Meanwhile, the Chinese are trying to buy into NZ farming, and voters are strongly against it. So don't expect much foreign investment in NZ.
2. NZ just doesn't have much of a selling point to attract investment. Unless you are a niche medical technology developer, a graphic design or web-based business, you are likely to struggle getting business on the international stage. Its expensive and time-consuming to get to NZ. So is NZ destined to be just a 'retirement hub' where people come to die? I think so.
3. The government finally looks to be doing something about welfare dependence. There are 386,000 NZ'ers on welfare benefits receiving a total of $6.5 billion a year. The biggest rout seems to be single parenting. There 100,000 single mothers who have 180,000 kids among them. No doubt most of them care less about working, and most are going to be terrible role models, embedding an 'inter-generational' culture of welfare expectancies or dependence. The problem is that NZ really has to create jobs for these people.
4. The government is actually making NZ less attractive for retirement by increasing the GST to 15% to fund tax cuts. Having said that most retirees are living on foreign income, and that translates well into low-priced NZ dollars.

by Andrew Sheldon
Some good news
1. There is actually the prospect of some low-income Australians retiring in NZ in coming years in order to benefit from cheap housing and falling airfares. This will also have a benefit for Australians travelling here for tourism, and buying holiday houses. In NZ you can buy a holiday house for $NZ80,000 ($A65,000) near the beach, in Australia they start at $A350,000.
2. Some of those NZ'ers working in Australia's mining industry are going to come home to NZ. Particularly if they are working in the mines in WA, where they are less likely to meet girls and settle in the country. They might thus be more inclined to save and return to NZ with a nest egg.
3. The Australian population is growing so much faster than NZ, 2% compared to 0.5%. There is a flipside however. Australian property is highly regulated. You have 21 million people sharing a continent slightly smaller than China, and it restricts urban land releases, which keeps prices artificially high. Subdivision is very difficult in Australia, even in rural towns. This is because local & state governments don't want to fund infrastructure, whilst also allowing 'tax creep' based on property prices. In NZ you can buy property or 'sections' in rural areas, in town for as little as $30-60K, and you can stick an old relocatable home on it for $50K (including expenses), or build a new one for $120,000 plus. In Australia, to benefit from those dynamics, you will need to live over the Great Dividing Range on the Western Plains, some 1000km away from Sydney, and maybe 60km from a large town, in something resembling a 'ghost town' which has lost all its services. You will be pleased when it rains, because that will be the most exciting thing that happens.

Northing else I can think to add. I think it was a good article. Basically I conclude:
1. If you have money or want to make it, you live in Australia
2. If you have money and want to leave it in your home country, you live in NZ
3. If you have no money and no desire to make it, no one wants you.
NZ Property Guide Philippine Real Estate GuideForeclosed Japan Guide

Saturday, August 7, 2010

The upside in Japanese property

A student of Japanese history cannot help but be impressed by how this country has turned itself around in the past. These periods of growth tend to be proceeded by protracted periods of stagnation, whether because of war or economic malaise. These situations include the post-WWII recovery and the Meiji Era expansion. One might be inclined to ask - if Japan has a hope of recovery - where can be expect such a recovery to come from. Clearly if such circumstances are to prevail it will be because of a 'cultural revolution'. Not the false promise of a collectivist revolution as in China, but a capitalist revolution. It is easy to conjure up explanations as to how that might happen. For example:
1. Women's liberation: Japan has yet to really feel the impact of the women's liberation movement that struck the West. In the West it was radical women who drove it, and the government who pragmatically recognised the benefits of taxing more household members. Today most women are proud to call themselves housewives. We might however see different values taught in schools and on TV educational programs in coming years.
2. Immigration: Most Western governments who have abused their debt-financing capacity (NB: I think all of them now since Australia and China pragmatically joined the club) have recognised the power of immigration to boost internal demand during periods of recession. We have all seen the levels of consumption in developing countries like Vietnam. Take one of those destitute Asians however and put them in the West, and suddenly you have a booming economy. In the last 3 years, Australian immigration numbers have jumped from 140,000 to 300,000 per annum. Rest assured that other countries are doing the same way, because its easy stimulus for the government, and who would not want more taxpayers to fund unsustainable debts. Might we expect the same in Japan? This would require change in Japanese values or 'tolerances to change'.
3. Central administration: Revolution anyone? I will be writing a lot more about this in future, but another basis for change is likely to be political transformation. Personally, I don't expect Japan to be a leader in political theory, but they do make great followers when they see how things can work. If any country shifted from a centrally-administered political administration, i.e. national & local assemblies referred as 'democracy', we would see a huge increase in productivity. For some of you, you will jump to the 'false dichotomy' of totalitarianism as the only alternative. But in fact there are other approaches to government. This is beyond the scope of this topic, but the impact would be significant.
4. Parenting & values: Advances in parenting and general personal values could also have a profound impact on Japanese people, particularly the youth. Such changes could also herald a huge improvement in the innovativeness of Japanese people.
5. Population growth: You might wonder if women might be encouraged to have more children. I think any such campaign is less likely to be effective without a deep-seated change in values.

Japan is already a hardworking nation of people, so I do not see much progress possible in terms of effort, but rather values which could culminate in favorable changes to how those people work. There are huge advances to to be made if people recognise and understand the opportunities. So do they? I don't it. Like I say...it will start somewhere else. Maybe the USA? And how long before Japan realises the personal relevance?

So long as Japan remains a collectivist country, the challenge of change is likely to depend upon external factors. We might expect this to be:
1. Debt crisis
2. Political stagnation
3. Charismatic leader

The fact is that the Japanese have not suffered enough that they are willing to change. That will change over the next two decades as power shifts to younger people. There will come a time when an appealing politician eventually emerges.

This is likely I think to result a dictatorial regime, though it is unlikely to embrace militaristic ambitions or persecution of foreigners. Yet few nationalistic regimes do when they start out. I actually don't expect a regime which needs to rely upon external markets for trade and 'population growth' to entertain such persecution of minorities. More probable is radical reform. In the context of Japan it is going to be concrete, sweeping and probably economically-focused.

Where to get good info & support in Japan

News on latest book. Even if you are too tight to buy a book on Japanese foreclosed property, Japan is a fascinating place. One of the best places to learn about it, and how to live there is through the internet. A lot of forums have lost their patronage because of 'losers' posting nonsense content on them. JREF.com is one of the better ones. This is a post I made there on Japanese foreclosed property, so you can follow the discussion. When you first arrive in Japan you can get great advice on how to live there. e.g. The best phone to buy, where to buy duty free, where to get your computer fixed, etc.

Question by JonnyAndDeeDee:667952:
"Lots of good information here! Thanks to all contributors..
I plan to buy foreclosed property in japan soon, and as this thread was first started a couple of years ago, I was wondering if somebody could tell me if the market is better or worse than it was 2 years ago. I know that the GFC has meant that property prices fell, but how are things now?
I plan to invest about 15million yen in several properties in and around the outskirts of Tokyo. Perhaps a ski lodge in Nagano or hakuba aswell. Do you think this is enough to get started in the business? I plan to research all properties properly, and I am skilled in all construction/maintenance work.
I have not yet purchased the ebook, but I plan to in the near future. Anybody willing to give a book review? Thanks for any replies in advance".
My reply:
Good for you. I think you will find the general property market is inclined recover from here because of inflationary pressures, i.e. In nominal terms, so that does not necessarily make it is a good investment. The yields do remain very attractive, so it makes sense to buy a place if you are living there a few years to avoid paying the high yield as rent. It does depend on where you buy. More important than location is the availability of property. I did not waste any time to buy because I was worried about the courts running out of stock. Its been 20 years since the property bubble broke, so I'd want to buy as soon as possible. You do have to ask yourself whether buyers 10-15yo who paid too much however are losing their jobs, will also be in financial trouble if the lose their job. From this point I think however banks are likely to recognise that the property market is going sideways, so they are less likely to rein in non-performing loans. Japan households are not over-leveraged, they are cashed up.
The Japanese govt is still weak, so still no sign of a reform agenda. The prospect of a 2-house majority was just missed, so unless we see LDP MPs crossing the floor, we are probably not going to see change. I do not think you will see higher interest rates in Japan because of high public debt. More likely:
1. Inflation from printing money
2. Increase in GST - looks likely
3. Tax on property - my expectation

Disclosure: I wrote the report to which you are referring. Any review of my book might be outdated as I keep adding new sections. Reviews are little good anyway because they presume certain reader knowledge. Property is the most important asset you will buy in your life, so its not a good idea to be cheap on advise. It only takes one idea to save you heaps. In this last 3rd edition, I added a section on where to buy to avoid earthquakes, discussion of land leases, more on risk management, and I updated the economics section, as per usual. A few nagging grammatical/spelling mistakes too.
Most people who buy are Westerners with money, partner, investment bankers, investors and of course Westerners working in Japan, +/- Japanese partner. Some know Japanese, some don't. So pretty small market.

There are a number of good forums like JREF, Gaijinpot.com and Japan Forum. Japan Times is the best English newspaper, and there are a number of English free magazines like Metropolism which you can pick up in bars patronised by Westerners.

Monday, August 2, 2010

Interesting property markets

New Zealand (North Island, countryside)
There are several appealing markets in which to buy property. Among the markets we cover, we consider the best buying to be the Philippines for capital growth, as well as satisfactory yield. Japan offers compelling yields, however there is less prospect of much capital growth in the medium term. Mind you, since the government will likely resort to printing money in order to pay off the public sector deficit, expect some nominal price increase in property and equity assets, but of course that will be inflation-based. They might however be offset by higher property taxes and a GST increase. I see no new taxes in the Philippines, just higher compliance measures. Despite high nominal taxes, people in the Philippines pay amongst the lowest taxes in the world, i.e. 16% of GDP. Its a good deal if you can scam it. Don't be a proud taxpayer....most of your taxes goes to corrupt people, or serves inefficient purposes. You are the best custodian of your money. No one respects it as much as the person who earned it. That which was well-spent you would have been happy to finance if you had a choice. Don't believe you had a choice when you voted in the last election. You have no real or effective choice.
The NZ property market is less appealing at the moment. The currency is consolidating around 0.70 USD and there is the prospect of rising interest rates constraining price growth. Equally problematic is the exodus of NZ'ers to Australia. NZ population growth is just 0.5%, with the exodus of NZ'ers balanced by Asian and other immigrants.
Some commentators are expecting a collapse in Australian property prices. Frankly, I don't see it when the economy is supported by a lot of commodity projects and immigration. Expect business investment in the mining & energy sectors to remain strong. The Resource Rent Tax interestingly will hurt, particularly if they talk about it, then decide to defer it, or not do it. It will leave investors in limbo.
Another positive is the tight housing supply. There is no doubt this is due to the hefty increase in immigration. Immigration to Australia has risen from 100,000 in 2004 to almost 300,000 today. It was doubled from 2007. Clearly the government saw immigration as a means of avoiding recession. It looks like the govt wants to use immigration and mining taxes to finance the retirement of babyboomers.....as opposed to doing what it ought to do....removing the cap on private sector activity. By cap I mean the excessive involvement of government in the economy...stupid arbitrary statutory law, subsidies, welfare transfer payments, etc. Sound idealistic? Well, you would be surprised how counterproductive these measures are at remedying problems. Government solutions are the problem.
1. Housing affordability a dream? Blame the arbitrary restrictions of government zoning which prevent land lot availability.
2. Can't get a job? Blame government cumbersome planning approvals, and most particularly public infrastructure funding and minimum wage limits.
3. Can't make money in a volatile investment climate? Blame government for distorting 'free' markets to ensure they get elected. They don't care if they channel billions into wasteful, unproductive investment, just as long as they get elected.
4. Can't find good workers? Blame the public education system which offers a low-standard for the private sector schools, which fake it, and sell their reputation.
5. Can't even make good friends? Blame a political culture which sets the standard in self-delusion, political correctness and subjective value judgements. Same for forging lifetime relationships. Divorce rates manifestly come from the same problem.

Japan's debt - is it a crisis?

Japan periodically attracts a lot of attention for all the wrong reasons. There is no question that Japan has a large debt. The question though is just how serious the 'crisis' is. I would suggest the problem is serious, by there are authors who envisage a dire crisis. Such authors conjure up a dire scenario where Japan is left with the sole inevitable need to raise interest rates, and that this will of course force up interest rates around the world. Think again.

Almost all of Japanese indebtedness is to the Japanese people. The implications are several:
1. Japan can simply raise taxes to reduce debt. This is not attractive when you are trying to encourage spending, but its not impossible when you have little choice. The GST seems to be the most popular choice, but I would not be surprises to see a land tax.
2. Japan can reduce public spending to reduce its debt obligations. This is not easy for a social democratic party, however its an option, particularly if its an efficiency drive.
3. Japan can print money to repay debts. This is easy because all the debt is Japanese, so no forex implications.
4. Japan can boost immigration. This is not a popular policy, but in some point in the future, people might accept it. I doubt it, but it remains an option. The reason is because, unlike the rest of the world which accepts immigration as an easy way to artificially stimulate domestic economic activity, Japan does it the 'real way'. Don't give the Australian govt kudos for strong economic growth when the population is growing at 2% because they doubled immigration numbers.
5. Japan can keep working harder. I really don't believe Japanese employment numbers. In any respect, a great many people in the economy are under-employed, or under-utilised. This is particularly the case with women, who remain boxed in glass ceilings, if not padded cells. There is however a huge challenges retaining these people to make them productive. I think mothering is perhaps the most likely option. :) Some of them seem pretty useless. Its hard to believe the 'real workers' can work longer hours, so I guess its more outsourcing low-value labour to China and working more efficiently. Less drinking for them, which means more for me. Sorry I'm not there!

Personally, I suspect they will do all of these to some extent.

Major cities of Japan

資料:各都市の推計人口(ホームページ) Japan's major cities:
札幌市 Sapporo 仙台市 Sendai さいたま市 Saitama 千葉市 Chiba
東京都区部 Tokyo-23 横浜市 Yokohama 川崎市 Kawasaki 新潟市 Niigata 静岡市 Shizuoka 浜松市 Hamamatsu 名古屋市 Nagoya 京都市 Kyoto 大阪市 Osaka 堺市 Sakai 神戸市 Kobe 広島市 Hiroshima 北九州市 Kitakyushu 福岡市 Fukuoka

Cities and towns of Tokyo

競売物件購入 keibai buttsuken kounyu 千代田区 Chiyoda-ku 八王子市 Hachioji-shi 羽村市 Hamura-shi 中央区 Chuo-ku 立川市 Tachikawa-shi あきる野市 Akiruno-shi 港区 Minato-ku 武蔵野市 Musashino-shi 西東京市 Nishitokyo-shi 新宿区 Shinjuku-ku 三鷹市 Mitaka-shi 文京区 Bunkyo-ku 青梅市 Ome-shi 郡部 Towns and villages 台東区 Taito-ku 府中市 Fuchu-shi 瑞穂町 Mizuho-machi
墨田区 Sumida-ku 昭島市 Akishima-shi 日の出町 Hinode-machi 江東区 Koto-ku 調布市 Chofu-shi 檜原村 Hinohara-mura 品川区 Shinagawa-ku 町田市 Machida-shi 奥多摩町 Okutama-machi 目黒区 Meguro-ku 小金井市 Koganei-shi 大田区 Ota-ku 小平市 Kodaira-shi 島部 Islands 世田谷区 Setagaya-ku 日野市 Hino-shi 大島町 Oshima-machi 渋谷区 Shibuya-ku 東村山市 Higashimurayama-shi 利島村 Toshima-mura
中野区 Nakano-ku 国分寺市 Kokubunji-shi 新島村 Niijima-mura 杉並区 Suginami-ku 国立市 Kunitachi-shi 神津島村 Kouzushima-mura 豊島区 Toshima-ku 福生市 Fussa-shi 三宅村 Miyake-mura 北区 Kita-ku 狛江市 Komae-shi 御蔵島村 Mikurajima-mura 荒川区 Arakawa-ku 東大和市 Higashiyamato-shi 八丈町 Hachijo-machi 板橋区 Itabashi-ku 清瀬市 Kiyose-shi 青ケ島村 Aogashima-mura 練馬区 Nerima-ku 東久留米市 Higashikurume-shi 小笠原村 Ogasawara-mura 足立区 Adachi-ku 武蔵村山市 Musashimurayama-shi 葛飾区 Katsushika-ku 多摩市 Tama-shi 江戸川区 Edogawa-ku 稲城市 Inagi-shi

Cities & Towns of Saitama

競売物件購入 keibai buttsuken kounyu 西区 Nishi-ku 北区 Kita-ku 大宮区 Omiya-ku 見沼区 Minuma-ku 中央区 Chuo-ku 桜区 Sakura-ku 浦和区 Urawa-ku 南区 Minami-ku 緑区 Midori-ku Cities (-shi) さいたま市 Saitama-shi 川越市 Kawagoe-shi 熊谷市 Kumagaya-shi 川口市 Kawaguchi-shi 行田市 Gyoda-shi 秩父市 Chichibu-shi 所沢市 Tokorozawa-shi 飯能市 Hanno-shi 加須市 Kazo-shi 本庄市 Honjo-shi 東松山市 Higashi-Matsuyama-shi 岩槻市 Iwatski-shi 春日部市 Kasukabe-shi 狭山市 Sayama-shi 羽生市 Hanyu-shi 鴻巣市 Kounosu-shi 深谷市 Fukaya-shi 上尾市 Ageo-shi 草加市 Souka-shi 越谷市 Koshigaya-shi 蕨 市 Warabi-shi 戸田市 Toda-shi 入間市 Iruma-shi 鳩ケ谷市 Hatogaya-shi 朝霞市 Asaka-shi 志木市 Shiki-shi 和光市 Wako-shi 新座市 Niiza-shi 桶川市 Okegawa-shi 久喜市 Kuki-shi 北本市 Kitamoto-shi 八潮市 Yasio-shi 富士見市 Fujimi-shi 上福岡市 Kami-fukuoka-shi 三郷市 Misato-shi 蓮田市 Hasuda-shi 坂戸市 Sakado-shi 幸手市 Satte-shi 鶴ケ島市 Tsurogashima-shi 日高市 Hidaka-shi 吉川市 Yoshikawa-shi 北足立郡 Districts (-gun) 伊奈町 Ina-machi or ko 吹上町 Fukiage-machi 大井町 Oi-machi 三芳町 Miyoshi-machi 毛呂山町 Moroyama-machi 越生町 Ogose-machi 名栗村 Naguri-mura

Cities &Towns of Kanagawa

競売物件購入 keibai buttsuken kounyu 県計 市部計 郡部計 横浜市 鶴見区 神奈川区 西区 中区 南区 港南区 保土ヶ谷区 旭区 磯子区 金沢区 港北区 緑区 青葉区 都筑区 戸塚区 栄区 泉区 瀬谷区 川崎市 川崎区 幸区 中原区 高津区 宮前区 多摩区 麻生区 横須賀市 平塚市 鎌倉市 藤沢市 小田原市 茅ヶ崎市 逗子市 相模原市 三浦市 秦野市 厚木市 大和市 伊勢原市 海老名市 座間市 南足柄市 綾瀬市 三浦郡葉山町 高座郡寒川町 中郡 大磯町 二宮町 足柄上郡 中井町 大井町 松田町 山北町 開成町 足柄下郡 箱根町 真鶴町 湯河原町 愛甲郡 愛川町 清川村

Cities & Towns of Chiba

競売物件購入 keibai buttsuken kounyu 県計 市計 郡計 千葉市 中央区 花見川区 稲毛区 若葉区 緑区 美浜区 銚子市 市川市 船橋市 館山市 木更津市 松戸市 野田市 佐原市 茂原市 成田市 佐倉市 東金市 八日市場市 旭市 習志野市 柏市 勝浦市 市原市 流山市 八千代市 我孫子市 鴨川市 鎌ヶ谷市 君津市 富津市 浦安市 四街道市 袖ケ浦市 八街市 印西市 白井市 富里市

Cities & Towns of Osaka

競売物件購入 keibai buttsuken kounyu 総 数 府 保 健 所 計 池 田 池田市 豊能町  箕面市  能勢町  豊中豊中市  吹 田 吹田市 茨木摂津市  茨木市 島本町 枚方枚方市  寝屋川 寝屋川市 守口 守口市  門真市 四條畷 四條畷市 交野市  大東市 八 尾 八尾市  柏原市  藤井寺 松原市  羽曳野市 藤井寺市 富田林 大阪狭山市 富田林市 河内長野市 河南町  太子町  千早赤阪村 和泉和泉市  泉大津市 高石市  忠岡町  岸和田 岸和田市 貝塚市  泉佐野 泉佐野市 熊取町 田尻町  泉南市  阪南市  岬町 大 阪 市 堺市 高槻市 東大阪市  

Cities & Towns of Hiroshima

競売物件購入 keibai buttsuken kounyu 県計 広島市 広島市中区 広島市東区 広島市南区 広島市西区 広島市安佐南区 広島市安佐北区 広島市安芸区 広島市佐伯区 呉市 竹原市 三原市 尾道市 福山市 府中市 三次市 庄原市 大竹市 東広島市 廿日市市 安芸高田市 江田島市 府中町 海田町 熊野町 坂町 安芸太田町 北広島町 大崎上島町 世羅町 神石高原町