Is it True that Foreigners are Buying Condos? PropTech TRUSTART Analyzes Concentrations and Realities of Corporate and Overseas-Address Owners from Registry Data
TRUSTART, a real estate big data company, has released a report analyzing the ownership of condominiums by corporations and individuals with overseas addresses based on real estate registration records. The findings highlight a significant concentration of foreign owners in major cities and a high ratio of corporate ownership on the upper floors of Tokyo's luxury high-rise buildings.
📋 Article Processing Timeline
- 📰 Published: April 28, 2026 at 18:30
- 🔍 Collected: April 28, 2026 at 10:01
- 🤖 AI Analyzed: April 28, 2026 at 16:18 (6h 16m after Collected)
TRUSTART Co., Ltd. (Headquarters: Chuo-ku, Tokyo; CEO: Yojiro Oe; hereinafter 'TRUSTART'), developer of the 'R.E.DATA' platform supporting DX in real estate operations with AI and big data, has released an analysis report on the ownership status of corporate and overseas-address owners in subdivided buildings like condominiums.
In November 2025, the Ministry of Land, Infrastructure, Transport and Tourism published a survey on short-term buying and selling of new condominiums and acquisition status by persons residing abroad. The influx of foreign capital into the housing market and corporate acquisitions for investment purposes are themes of increasing political and social interest. TRUSTART analyzed the real estate registry from a similar perspective.
*This data is aggregated from TRUSTART's database and is not an exhaustive survey of all properties.
*Determination of overseas-address owners is based on the registered address, which may include Japanese nationals living abroad.
### Report Topics
1. Ownership by overseas residents concentrated in central cities, reaching 4.5% in Tokyo's central 5 wards.
Comparing the acquisition ratio of overseas-address owners across three major metropolitan areas and major regional cities, Tokyo, Osaka, and Fukuoka rank highest. Conversely, neighboring prefectures like Kanagawa, Saitama, Chiba, Hyogo, and Nara remain below 0.5%, showing a clear concentration in central cities.
2. China and Taiwan lead in all prefectures, with variations in composition by region.
While China and Taiwan consistently rank top, the composition varies by region. Taiwan is most numerous in Hokkaido and Kyoto, significantly outnumbering China in Hokkaido. Meanwhile, China accounts for about 57% in Saitama and Fukuoka, and the U.S. has a relatively higher ratio in Kanagawa, Chiba, and Hyogo.
3. Corporate ownership is widely distributed nationwide; in Tokyo and Osaka, the ratio increases on higher floors.
Unlike overseas ownership, corporate ownership shows smaller regional differences and exists at a certain level nationwide. By prefecture, Kyoto, Hyogo, and Fukuoka rank high, and in Tokyo's 23 wards, ratios are higher in central areas like Chiyoda and Minato.
An analysis of subdivided buildings of 21 stories or more in Tokyo by floor showed a trend where the ratio of corporate ownership increases with the floor level, reaching approximately 30% on floors 48 and above. This trend aligns with a report published by Kobe City in February 2025 regarding tower condominiums.
### Summary
This report shows that while foreign owners are concentrated in specific major cities, corporate ownership is widespread. The tendency for corporate ratios to rise on higher floors of Tokyo properties suggests frequent acquisitions for investment and asset management purposes.
TRUSTART will continue to visualize this vast data to enable financial and real estate professionals to support owners and contribute to effective asset utilization at the right timing.
In November 2025, the Ministry of Land, Infrastructure, Transport and Tourism published a survey on short-term buying and selling of new condominiums and acquisition status by persons residing abroad. The influx of foreign capital into the housing market and corporate acquisitions for investment purposes are themes of increasing political and social interest. TRUSTART analyzed the real estate registry from a similar perspective.
*This data is aggregated from TRUSTART's database and is not an exhaustive survey of all properties.
*Determination of overseas-address owners is based on the registered address, which may include Japanese nationals living abroad.
### Report Topics
1. Ownership by overseas residents concentrated in central cities, reaching 4.5% in Tokyo's central 5 wards.
Comparing the acquisition ratio of overseas-address owners across three major metropolitan areas and major regional cities, Tokyo, Osaka, and Fukuoka rank highest. Conversely, neighboring prefectures like Kanagawa, Saitama, Chiba, Hyogo, and Nara remain below 0.5%, showing a clear concentration in central cities.
2. China and Taiwan lead in all prefectures, with variations in composition by region.
While China and Taiwan consistently rank top, the composition varies by region. Taiwan is most numerous in Hokkaido and Kyoto, significantly outnumbering China in Hokkaido. Meanwhile, China accounts for about 57% in Saitama and Fukuoka, and the U.S. has a relatively higher ratio in Kanagawa, Chiba, and Hyogo.
3. Corporate ownership is widely distributed nationwide; in Tokyo and Osaka, the ratio increases on higher floors.
Unlike overseas ownership, corporate ownership shows smaller regional differences and exists at a certain level nationwide. By prefecture, Kyoto, Hyogo, and Fukuoka rank high, and in Tokyo's 23 wards, ratios are higher in central areas like Chiyoda and Minato.
An analysis of subdivided buildings of 21 stories or more in Tokyo by floor showed a trend where the ratio of corporate ownership increases with the floor level, reaching approximately 30% on floors 48 and above. This trend aligns with a report published by Kobe City in February 2025 regarding tower condominiums.
### Summary
This report shows that while foreign owners are concentrated in specific major cities, corporate ownership is widespread. The tendency for corporate ratios to rise on higher floors of Tokyo properties suggests frequent acquisitions for investment and asset management purposes.
TRUSTART will continue to visualize this vast data to enable financial and real estate professionals to support owners and contribute to effective asset utilization at the right timing.