You can actually find a lot of places in Florida because of flood danger and poorly run condo associations. There are many ‘fire sales’ going on as we speak. Weather wise I’d say it’s pretty similar especially with the threat of tropical storms. The insurance industry is really what’s become the X factor where it’s impossible or absurdly expensive to insure your property. Many just forego it if they own the property outright.
@matteosalvatoreceravolo5754
Ай бұрын
Great video and i am currently staying in okinawa, I agree entirely with the analysis, Naha is in high demand and there is no such thing as akiyas, I have been looking for places for months, I am trying to contact the agent to go look for this one last week but no english spoken. One extra element for you guys: okinawa has direct flights with the highest growing economies in the area: Korea, Taiwan, China, which is why properties are expensive: chinese are buying as much properties as they can, and same Taiwan: the reason being is that if china invades taiwan these people want to move here where there is a solid military protection with the US bases.
@CheapPropertyJapan
Ай бұрын
Interesting! Thanks!
@matteosalvatoreceravolo5754
Ай бұрын
@@CheapPropertyJapan No problem, I hope I can go visit this place and get someone to speak english to me haha
@TREMVan
Ай бұрын
Fascinating insights thank you
@youtubechannels9205
Ай бұрын
Thanks for the weather info. It would be great to include it in each video. Pls, try to give us HOA info, as well. For example in Florida association fees reach up to $3000/month, plus insurance and property tax up to 4% of property value/a year. So $500 000 condo costs $56 000 just to cover costs. That's why Japan is so enticing. One year of Florida costs to maintain property, buys your condo in Okinawa.
@CheapPropertyJapan
Ай бұрын
Thanks for the suggestions! We do try to include the listing link in the video descriptions if you ever want to know more about the properties.
@terryevans1976
Ай бұрын
We are currently selling a comparable condo (inherited) in Florida. The market value is around $150k and this is on the the Space Coast. As the commenter below stated Florida has a lot of issues around condo ownership as well as a glut of supply which drives the price down.
@ElectiverBFF
Ай бұрын
do you think Okinawa is a good place for investment and growth?
@whitesamurai
Ай бұрын
@@ElectiverBFF The population is already declining. It is following a very similar trajectory to Tokyo. I am more concerned China will destroy the place but I have trouble modeling that risk. Is it 10% over the next 50 years? Or 50% over the next 100 years? It certainly seems higher than zero.
@CheapPropertyJapan
Ай бұрын
Concrete buildings, good climate, and the 2nd most stable prefecture for population. Pretty good IMO.
@TREMVan
Ай бұрын
Not really. But growth can come from no debt combined with hustle... Thanks Bruce
@whitesamurai
Ай бұрын
Thanks for the good info. This is a hard call: my impression is the property price is similar to Bangkok or Manila but those cities would have a lower cost of living on food etc. And more dangerous cities. Idk how a foreigner would be treated in Naha but for an older person seeking safety and good medical care, this might be ideal. Older people like safe and boring.
@TREMVan
Ай бұрын
You don't have ownerships in Bangkok or Manila. Everything else on leased land for foreigners. Huge difference in my opinion.
@whitesamurai
Ай бұрын
@@TREMVan you may know something I don't. Here, we are looking at condo in Naha for about $50K. In Bangkok and Manila there are many condos also for $50K. Your argument is that foreigners are not entitled to a share in the underlying land value, only the building value?
@TREMVan
Ай бұрын
@@whitesamuraiYes. However, I think that the fact that no one can own any land in the Philippines, for example. Means that you would own your apartment. Plus if the government expropriated all the apartments there would be a riot. I've been to all Manila, Bangkok and Naha. I like them all....
@whitesamurai
Ай бұрын
@@TREMVan I guess you already know this but, from my perspective, there is not much difference between being a minority condo unit holder or a REIT unit holder or a shareholder in a property developer or a bank shareholder. Of course, these are increasingly indirect plays on the local market. But over a 10 or 20 year period the expected return on these assets is probably quite similar. You can own the indirect assets in Thailand and the Philippines. I am of two minds on all these things. But the problem with small town Japan - and I am not referring here so much to Naha - is that there is a massive subsidy/wealth transfer from Tokyo to the countryside. Sort of like from the rich parts of Canada to the Maritime provinces. Idk to what extent the transfer is indirect (e.g. building national roads and hospitals where they are not needed) and to what extent it is direct. But, in any case, over time these subsidies will dry up as the fiscal situation deteriorates. I wonder how many Japanese will continue to want to live in inaka when the hospital is one hour away...
@matteosalvatoreceravolo5754
Ай бұрын
@@TREMVan japan can't be compared to thailand and philippines, we are talking a completely different level of safety, higene standards, flights available etc.
@uchinan_chiburu
Ай бұрын
can't even buy a car for 50k in the U.S. lol
@TREMVan
Ай бұрын
Which is the edge of this investment... However, everyone's used to these 2x 3x 4x5x models. How about just a cheap place to live?. Thanks for watching Bruce
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