I am currently considering purchasing a new condominium (新築マンション) in Tokyo from Mitsubishi (The Parkhouse), with a price of around 90 million yen and move-in scheduled for 2026.
The sales agent informed me that:
- Contract will be made after mortgage examination
- 10% deposit of the sale price is required upon contract
- 2–3% additional expenses at the time of key handover
I plan to use a full housing loan (住宅ローン) for the purchase.
My profile:
- Permanent Resident (PR) in Japan
- Living in Japan for 10+ years
- Working at a stable company
- Intending to stay long-term in Japan
My main question:
Is the 10% deposit (手付金) strictly mandatory for new condos from major developers like Mitsubishi, or is it sometimes negotiable (for example 2–5%) after mortgage pre-approval?
Also, has anyone successfully reduced the deposit amount for a new construction condo (not resale) when using a mortgage?
Since the loan will only be executed at handover (2026), paying a 9 million yen deposit in cash is quite significant, so I would like to understand how common negotiation is in this situation.
Any experiences or advice would be greatly appreciated, especially from those who purchased from Mitsubishi, Mitsui, or Sumitomo developers.
Thank you!
by Fearless-Location-87