Okinawa or London? Hongkongers see Japan as an option in their emigration plans
- Okinawa, about 2 hours and 20 minutes from Hong Kong by air, is an option for Hongkongers seeking greener pastures
- Property prices are holding up despite the Covid-19 pandemic, given low turnover even though rents have declined by about 10 per cent
One popular route is via the Japan Investor/Business Manager Visa programme, through which foreigners can propose to establish a business such as a homestay because of the island’s appeal as an international tourist haven.
The process typically takes three to six months and successful applicants can get on the path to citizenship after establishing a five-year operating track record, sitting a test and renouncing their original nationality. This can attract Hongkongers who do not own British National (Overseas) passports. Japan, however, does not allow immigration based on property investment or so-called cash-for-passport schemes.
“[We get] at least three people inquiring about moving to Japan every day, of which Okinawa may account for one or two,” said Anvy Cheung, chief executive of Sakura Japan Property, an agency specialising in Japanese real estate. “If [one] wants to move to Japan by operating a homestay, we will tend to recommend Okinawa.”
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Okinawa’s homestay business tends to face less competition from big hotels that compete for tourist dollars in Tokyo or Osaka, she added. If the property is good, the operation can be sustainable, or alternatively, it can also be repurposed for personal use or resale.
The asking price for a new fully furnished, two-storey house in the southern part of the island, measuring 1,128 sq ft and capable of accommodating 12 people, is about 45 million yen (US$410,000), according to the property agency.