Thanks for the info. I have definitely seen some people make money on properties here, but it seems to be the exception rather than the rule. When I tell my Japanese friends that houses appreciate in other parts of the world they just can believe it. The only experience they have had with that was during the bubble and even then, I believe it was the land that held the value not the structure. I have heard a couple of reasons for this. One is that Japan is an earthquake prone country where structures have to be constantly re-built to ensure their safety and the other reason is that Japanese, being Buddhist, do not like the idea of inheriting the previous persons karma. In addition, because of the high cost of land, most individuals do not own the land and simply rent the land and own their house.

I teach English for large companies here, and it is amazing to find that many of the workers own houses in other parts of the country but have been transfered for work, and because they would lose their money if they sold, they simply keep the house and rent close to work. Often, the family remain in the house and the husband lives far away. It is the strangest real estate situation I have ever seen, but I am sure there is some way to profit from it.

Daniel