With recent yen appreciation, the dollar does not buy as much as it did in Japan, but there are still many properties available in Tokyo which you can buy for $250,000 or less.
Real Estate Japan currently lists over 900 detached houses and apartments in the 23 Wards and surrounding cities in this price range.
Here are a just a few examples of what you can buy in Tokyo now for $250,000 (¥25,000,000) or less.
Studio Apartment For Sale in Roppongi
Where: Roppongi. 6-min walk from Roppongi Itchome Station on the Tokyo Metro Namboku Line.
Price: ¥24,800,000 ($247,000)
Size and Layout: 25.11-sqm (269-sqft) studio (1R)
Floor: 5th floor unit in 6-story building
Land rights: Freehold
Year Built: 1979
Structure: Reinforced concrete
Notes: This is a good example of how the age of a property (built in 1979) affects its price, but the fact that it is located in a very central location means that it is still not being listed at a “give away” price. This apartment would work well for someone looking for an entry-level investment property or a simple place to live in a very central neighoborhood.
4-Bedroom House For Sale Hachioji City, Tokyo
Where: Hachijoji, a city in western Tokyo, about a 30-minute direct ride from Shinjuku Station
Price: ¥17,900,000 ($177,000) — (Well under our budget)
Size and Layout: 93.93-sqm (1,011-sqft), 4-Bedroom (4LDK)
Floors: 2-stories
Land rights: Freehold
Year Built: 2005
Structure: Wood
Parking: Two parking spaces
Notes: This listing just came online in English today. One reason this property is priced below the average price of a house in Tokyo is that it was built in 2005.
2-Bedroom Apartment For Sale in Shirokane, Minato Ward
Where: 8-min walk from Shirokane-Takanawa Station on the Mita Line. About a 15-min ride to Shibuya with one transfer. Shirokane is an upmarket neighborhood in Minato Ward.
Price: ¥25,000,000 ($247,000)
Size and Layout: 45.79-sqm (492-sqft), 2-bedroom (3K = A kitchen + 3 rooms)
Land rights: Freehold
Year Built: 1977
Structure: Reinforced concrete
Notes: This is another good example of how the age of a property (built in 1977) affects its price. Shirokane itself is an upmarket area, but as is common throughout Japan, older buildings can often be found even in the most upscale of areas. Shirokane Takanawa Station is located on the Mita (subway) line, giving you quick and direct access to downtown business districts like Hibiya and Otemachi. The agent notes that this is a currently tenanted unit, occupied by a company employee. As an investment property, estimated gross yield is 6.5%, with potential annual rent of ¥1,620,000 a year.
1-Bedroom Apartment For Sale Near Waseda University
Where: 2-min walk from Waseda Station on the Toden Arakawa line, and a few minutes walk from Waseda University. About a 30-minute ride to Shinjuku. This is a college student neighborhood.
Price: ¥25,000,000 ($247,000)
Size and Layout: 38.32-sqm (412-sqft), 1-bedroom (1LDK)
Land rights: Freehold
Year Built: 1982
Structure: Reinforced concrete
Notes: This is a good example of an entry-level investment property in a college neighborhood. This property may also be interesting to a buyer looking to purchase an apartment for their child attending nearby Waseda.
2-Bedroom House For Sale in Itabashi Ward
Where: Nakadai neighborhood near Kami Itabashi Station, Itabashi Ward in northern Tokyo. About a 13-min ride to Ikebukuro.
Price: ¥19,800,000 ($196,000)
Size and Layout: 63.05-sqm (679-sqft), first floor has been converted to a counter-style restaurant layout, second floor has a bedroom with a full bathroom, third floor has a bedroom with a full bathroom and a separate sink.
Land rights: Freehold
Notes: This is a good example of an entry-level investment property in a northern Tokyo neighborhood, where property values are much lower than in central Tokyo.
You may also be interested in: Basic Requirements for Getting a Mortgage as Foreigner in Japan