This House and website?
 

Hey. I was looking around the web for a future house ^^ and found this website. Foreclosed Japan - The Best Deals on Property in Japan. Its a Japanese house auction site. Anyone had any experience with these? anyway, i found a house which looked nice and bidding starts ataround 12,000,000 yen. Which is £56,000, sounds reasonable. Can anyone tell me if thats a good house in Japan or what? and also is it a good area and can the website be trusted? House in Gunma - Japan real estate - Foreclosed Japan

I would never by a house without seeing it in person first.

It doesn't even list which city it is in.

You get what you pay for the first year anyway. After that, the house you buy for Y5,500,000 is now worth Y4,500,000. Even with rental income, might not be the best investment--unless you can somehow write-off the depreciation, which can be severe in the Japanese housing market.

dont pay too much - do online research
 

If the property is in Gunma that strikes me as very expensive. Anything in the countryside, more than 1hr train from a major city should be dirt cheap if foreclosed. With the rural depopulation there is no one to buy. Check out Foreclosed Property. If you can read Japanese go to the http://bit-sikkou.jp website. You can pay as little as $10,000 for a house in Japan. Not a great house, but very liveable, and not necessary in a remote village.

Do you have a japanese real estate broker that you trust? That's one of the ways to ensure you get a good yielding property. This book will give you a lot of good insights to help you in buying properties in japan. Foreclosed Property Japan 2008 (eBook)

There is a map with the location.