It is exceptionally difficult to take advantage of Japanese interest rates to purchase real estate in Japan if you are a non-resident. Even Japanese residents still pay a standard of 3-4% for a 30 year home loan. As mentioned, REITS is one way. They had a very nice jump in value some time back but are still good for investment as the Japanese real estate market continues upward. Alternatively, www.foreclosedjapan.com is a rather new venture that has cheap properties and may or may not offer limited financing (but at much more than 0.5%)
One of the way is to invest in the Real Estate Index fund, or What they called REITS. This information can be found from your local brokers
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