TOKYO, May 28 (Xinhua) -- Japan will conduct its first-ever investigation into the role of foreign investors in the surge of home prices amid growing concerns that foreign buyers purchasing properties for investment purposes may be contributing to the soaring prices.
Currently, there is no statistical data clearly identifying the extent of foreign ownership. To address this, the Ministry of Land, Infrastructure, Transport and Tourism will analyze property registration records provided by the Ministry of Justice.
The investigation will focus mainly on condominiums in Tokyo, aiming to determine the proportion of properties purchased by foreign individuals and analyze any trends in such transactions.
Although foreign property purchases are legal in Japan, the ministry is concerned that speculative buying and short-term resales could drive up housing prices further, making it increasingly difficult for residents to buy homes for personal use.
Based on the findings, the ministry plans to review and potentially revise future housing policies. ■
