TOKYO, Dec 16 (Reuters) – Japan will revise guidelines to require foreigners shopping for home property, together with for residential functions, to file a report back to the federal government, Finance Minister Satsuki Katayama stated on Tuesday.
Below present guidelines, the federal government solely requires foreigners shopping for property for funding functions to file a report.
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The federal government will broaden the requirement to incorporate property bought for residential functions, and goal to introduce the brand new guidelines in April subsequent yr, Katayama advised a information convention.
“We have to grasp the entire image as we’re seeing instances the place residential property is purchased (by foreigners) for speculative functions,” Katayama stated.
Reporting by Leika Kihara; Enhancing by Chris Reese
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