Investment Opportunity: Military Land in Okinawa's Ginowan City
This listing presents a unique investment opportunity: a 417 m² plot of military land located in the Oyama district of Ginowan City, Okinawa. The property is priced at 31,820,000 JPY. The land is classified as miscellaneous land (雑種地) with potential for residential development (宅地見込地). A key feature is its location within a fenced area, and it comes with a scheduled return provision (返還予定あり).
Critical investment details from the agent's notes have been translated. The surface yield is 2.38%. The inheritance tax assessment multiplier is 2.8 (for Reiwa 7), with the calculated inheritance tax amount being 60% of the product of the fixed asset tax assessment value and this multiplier (a 40% reduction). The annual land lease fee per square meter is 1,817.00 yen. Crucially, the annual land lease fee is paid by the state (the tenant), with no history of arrears, ensuring stable income. The listing includes a survey on reasons for purchasing military land: for future inheritance tax planning and family security; because the state tenant does not default; due to the annual increase in land fees creating a compounding snowball effect; for a hands-off investment strategy; as an easy entry into real estate investment (low risk, low return); and because it offers better returns than bank interest rates.
Additional cost simulations are provided: an agency commission of 1,116,060 JPY, stamp duty of 10,000 JPY, ownership transfer fees of approximately 350,000 JPY (estimate required), and an annual fixed asset tax of 83,800 JPY. The annual land lease income is 757,689 JPY. Both the lease income and property tax are subject to daily pro-rata adjustments upon transaction.
The property is situated in Ginowan City, a central municipality on Okinawa's main island. The area is historically significant and offers a blend of urban convenience and coastal scenery. A major nearby landmark is the Okinawa Convention Center, a modern complex overlooking the ocean that hosts various international events and exhibitions, symbolizing the prefecture's contemporary cultural and economic role.
