Politics and Economy

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Why Japan Hasn't Restricted Foreign Property Buyers: Developer Debt, Donations and a 1995 WTO Promise

On July 24, 2026, Japan's chief cabinet secretary told ministers to speed up work on rules for foreign land purchases. Summer was already three-quarters gone. Meanwhile 20 to 40 percent of new apartments in three central Tokyo wards go to foreign buyers, the developers' association gave 40 million yen to the ruling party's funding body, and Japan holds no WTO reservation on land.