Japan is set on implementing a centralized system for managing foreign property ownership, the headline suggests. While no specific details are given, Japan's real estate market typically involves regulations and procedures that can be complicated for foreign investors. Through this new system, the country seeks to streamline property management, possibly making it more accessible for non-Japanese investors. The exact timeframe and further details about its application remain undisclosed.

In Japan, owning property as a foreigner was often challenging due to the nation's intricate legal procedures and regulations, deterring potential international investors. This change signifies a potential shift in these legal hurdles and may be seen as a welcome move towards increasing foreign investment in the country, which could stimulate the economy and reinvigorate the real estate market.

Unlike Japan, foreign property ownership in the US and EU generally involve fewer barriers. Regulations in these regions are often straightforward, and many countries have implemented systems that simplify foreign property investment. Japan's new move may be seen as a step towards mirroring these more international-friendly practices.