Japan: Real Estate Legislation for National Security Purposes
The National Diet of Japan recently passed the Real Estate Investigation and Regulation Act, which is in line with tightening global trends in real estate regulations in order to prevent threats to national security.
The Real Estate Investigation and Regulation Act (Act No. 84 of 2021, REIRA) was published on June 23, 2021, and is to become effective no later than one year and three months from the date of publication. It has been reported in the media that REIRA subject areas are being selected for designation.