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TOKYO, June 1, 2022 /PRNewswire/ -- A research about the change of the legal adult age in Japan and what it brings to the real estate market has been recently released by OHEYAGO( https://oheyago.jp/ ). OHEYAGO is a self-tour house hunting service owned by ITANDI.Co.,Ltd. which is a sub company of GA technologies. GA technologies Co., Ltd (Headquarters: Minato-Ku, Tokyo; CEO: Ryo Higuchi / Securities Code: 3491) is a company provides a comprehensive, one-stop real estate platform service in Japan. ITANDI focuses on bringing technology into the process of real estate transactions to make the whole process smoother and user friendly. Recently, a research result has been released by OHEYAGO based on the recent law revision of lowering the legal adult age from 20 to 18 years old in Japan（1） and what it will bring to the rental & lease market. It was an online questionnaire carried out among OHEYAGO's Twitter followers, and the answers received was 259.
Key Highlights
1. Changes it brought to the rental & lease market along the change of the legal adult age
About 96.1% of the people researched confirmed that they do know the change about change that the legal adult age has been lowered to 18-year-old from the original 20-year-old started from April 1st, 2022, in Japanese citizen law,
When it comes to the question" Did you know young adults could sign a rental contract without parents' permission once they reached 18?" 62.5% answered "Yes", while 37.5% answered with "No". We can see that about 40% of the people do know that the legal adult age has been lowered, but some people do not know the changes it also brings to the real estate contract process.
researched by OHEYAGO- Picture 1
2．How do you feel about the fact that an 18-year-old could sign a rental contract without parents' permission?
About 45.9% of the people expressed that "they are a little bit worry" about an 18-year-old is in charge of a rental contract on his / her own without parents' permission. 29% showed that "overall they are more or less lean towards the positive side of the change." 13.9% believe that "the change is definitely a good sign." 11.2% answered that "they are certainly worried about such a change." We could see that overall, 57.1% which is more than half of the people are feeling some kind of anxiety about the change.
researched by OHEYAGO- Picture 2
3．Following the question above, what is your reason for that?
There are 67.7% of the people believe that it is either certainly good or overall positive about such a change. People believe that many 18-year-old already entered the workforce to support themselves as adults, and they should be able to take the responsibility to determine a rental contract by themselves. 47.7% answered that "An 18-year-old should be mature enough to make a decision on their own." While 38.7 % of the people believe that by deciding a house contract on their own will be a lesson to these young adults about "what a sense of responsibility is."
On the other hand, 77.7% of the people worried that an 18-year-olds usually does not have much knowledge about the real estate market and how it works exactly. 70.9% worried that young adults usually do not have a stable finance to afford a rent or any expenses that come with a rental contract. While 57.4% pointed out that many 18-year-olds are still high school students and do not have the ability to support themselves independently.
【Why do you think it is good for young adults to be able to take charge of a rental contract all by themselves?】
67.7%: "There are many 18-year-old already started to support themselves as adults"
47.7%:" An 18-year-old is old enough to make decisions for oneself"
38.7%:" By deciding a contract for themselves can teach these young adults a sense of responsibility"
12.6%:" Most countries set 18 as the legal adult age so why not Japan?"
9%:" A rental contract usually does not cost as much as a purchasing contract, and it is easier to terminate the contract if you want / must"
Why do you feel anxious about such a change?
77.7%: "Most 18-year-old don't know much about how real estate transaction works"
70.9%: "It is worrisome that young adults might not have the money to pay the rent and other expenses"
57.4%: "Many 18-year-old are still high school students which don't have the money to support themselves"
53.4%:" Young adults have to be careful not to get fooled around or becoming the target by / of some of the realtors"
29.7%:" I just do not think it is OK to change the legal adult age suddenly. It is just worrisome"
4. Advice for young adults when signing a rental contract
69.1% hoping that realtors should take the responsibility and explain the details to these young adults to make the whole process as smooth as possible. 64.5% of the people worried that these young adults might get into trouble even for crimes if not paying attention to the details of the contract. 60.2% expressed their worries that it will be difficult to terminate a contract once it has been signed.
69.1%: "Realtors should explain the contracting process, rules etc. as much detailed as possible"
64.5%: "Young adults should watch out for themselves not to get into troubles when signing a contract"
60.2%: "Young adults should be careful that sometimes it might be difficult to terminate a contract once you have signed it"
40.5%: "Plan everything you need to do before & after you move accordingly"
25.5%: "Get familiar with the surrounding environment as quick as possible"
5. The responsibility of realtors when helping these first-time contractors
81.1% of the people are requesting the realtors should take the responsibility to explain the rules and process of a rental contract thoroughly in helping these young adults as first-time contractors. While "the delivery of the necessary information and documents to the contractors" comes in second with 62.2%. "An 18-year-old will still need to grant a permission from the parents if the individual is still a student before signing a contract" comes in third with 51.7%. And 38.2% of the people hoping that the realtors could also advise these young adults about the manners, rules, tips when living by themselves the first time. From the list we could see that different advises are given to the young adults in order to prepare them for a smooth transition into living alone by themselves.
What about foreigners?
There are few advice from the Ministry of Land, Infrastructure, Transport & Tourism of Japan on finding a house in Japan as a foreigner （2）.
OHEYAGO is a self-tour house viewing service with 3 main characteristics. ① Everything can be done online ② Only offers a property that is definitely available on the market （3） ③ Provides you with great service with a reasonable price（4）OHEYAGO provides our customers with a fast and smooth house viewing service. House seekers can reserve an appointment 30 minutes prior based on one's own schedule. We offer a complete online service starting from house searching to the final contract signing. Customers can find a house easily all by using a smartphone. What's more is that, with an amendment revision that is going to be enacted on May 18th. Originally, the documents those required to be provided in paper form including the agreement of important matters can be offered in an electronic file（5）. OHEYAGO is putting its effort in promoting the evolution in the real estate industry of bringing a brand-new way of real estate transaction that is purely online.
Time period: March 24,2022 ~ April 14,2022
Number of answers received: 259
Source of research: OHEYAGO Twitter followers
Research method: Online（ Q1,Q2: single reply only, Q3,Q4,Q5: multiple answers allowed ）
Company name: ITANDI Co.,Ltd.
Representative: Shinpei Noguchi
Website: https://www.itandi.co.jp/
Head office: 40F of Sumitomo real estate Roppongi Grand Tower, Roppongi 3-2-1, Minato-Ku, Tokyo, Japan
Established: June 2012
Capital fund: 36,000,000 JPY
Service:
Company: GA technologies Co., Ltd.
Representative: Ryo Higuchi
URL: https://www.ga-tech.co.jp/en/
Head office: 40F of Sumitomo Fudosan Roppongi Grand Tower, Roppongi 3-2-1, Minato District, Tokyo
Year of founding: March 2013
Capital fund: 7,224,816,203 JPY (by March 2022)
What we do:
Reference:
CONTACT: Nami, (+81-90-1503-9158), Judy, GA technologies Co., Ltd., MAIL: pr@ga-tech.co.jp
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