In this installment in the “what can you buy” series, we take a look at what you can buy around Japan at the popular $150,000 (¥16,000,000) price point.
To put this price point in perspective,
- In December 2019, the average listing price of a pre-owned apartment in the greater Tokyo region hit a new all-time high of ¥37,440,000 ($344,000), a year-on-year increase of 0.4% and up 1.3% compared to November.
- The average price of a new apartment sold in the greater Tokyo area hit a 29-year high of ¥59,800,000 ($545,000) in 2019.
After the examples, we give answers to FAQs about buying property in Japan as a foreigner.
Let’s look at a few examples of what’s currently on the market.
Apartment in Nishi Shinjuku – 1 stop to Shinjuku Station – Est. gross yield of 7.3%
Location: Excellent location in Nishi (western) Shinjuku, 5-min walk from Hatsudai Station on the Keio line. This is a great residential neighborhood just west of Shinjuku proper. In the neighborhood, you’ll enjoy relaxed shopping at the shoutengai (pedestrian-friendly shopping street) but also proximity to the 54-story Tokyo Opera City skyscraper, the third tallest building in Shinjuku and home to many shops and restaurants, as well as a concert hall, art gallery, media museum, and office space.
Hatsudai is a not-so-well-kept-secret for people looking to live near Shinjuku without the crazy crowds.
Price: ¥12,900,000 ($122,000)
Size and Layout: 25.20 m² (269-sqft) 1DK (Apartment with dining/kitchen area separated from bedroom)
Floors: 2nd story in 5-story building
Land rights: Freehold
Year Built: 1984
Notes: Currently tenanted with estimated potential annual rent of ¥948,000. Buy for yourself or as an investment property.
Renovated House in Osaka – 2 stops to Tennoji
Location: Excellent location! 12-min walk from Nishi Tanabe Station on the Midosuji line, 2 stops from Tennoji Station! This is a terrific neighborhood with great transportation access and near two large parks: Bandai Pond Park and Nagai Park, as well as the Osaka General Medical Center. Tennoji (just 4-min away by subway) is one of Osaka’s main city centers, known for its skyscraper district, many shopping centers (near Tennoji Station and the Abeno Harukas building) and green spaces, and a very popular zoo.
Price: ¥15,800,000 ($149,000)
Size and Layout: 76.09 m² (818-sqft) 3DK (2BR House with covered parking space)
Floors: Two-story house
Land rights: Freehold
Year Built: 1993, renovated in January 2020
Notes: Brand new kitchen, bathtub, tatami mat, toilet, wall paper, floors. Renovated in 2020 January. 3DK townhouse with parking on first floor. City water/sewer system.
Renovated House in Kyoto — 5 stops to Kyoto Station
Located: 4-min walk from Fushimi Station on the Kyoto Kintetsu Station, 5 stops to Kyoto Station. Quiet residential neighborhood near supermarkets, convenience stores, banks, post office, and public schools.
Price: ¥15,800,000 ($149,000)
Size and Layout: 56.61 m² (603-sqft) 2LDK (2BR House)
Floors: two-story house
Land rights: Freehold
Year Built: 1979, renovated in April 2019
Notes: Renovated in April 2019 from a 3BR and a living room to a 2BR and a living. All western-style rooms. This is a compact home located in a family-friendly neighborhood with good access to the city center.
And if you head out to the countryside, you’ll find listings at much lower price points than $150,000….
Whole building hotel / ryokan in Nagano – List price ¥7.8M ($74,000)
Location: Kijimadaira-mura, Nagano prefecture. About 12-min by car to Iiyama Station on the Iiyama line. Nagano is a mountainous prefecture, rich in nature and known for hosting the 1998 Winter Olympic Games. It is about 2-hours by shinkansen from Nagano Station to Tokyo.
Price: ¥7,800,000 ($74,000)
Size and Layout: 227.64 m² (2,443-sqft) whole building (six guest rooms + common area and kitchen)
Floors: two-story house
Land rights: Freehold
Year Built: 1990
Land Only – Ocean View Plot overlooks Nakijin Castle Ruins
Location and details: Amazing location! This is a land only sale, listed by SOLID Real Estate K.K., a bilingual brokerage based in Yokohama. This is a 1,158.00 m² plot with electricity and water lines installed. The agent recommends this land for a buyer looking to build a small accommodation on raised land with an ocean view. The listing price of ¥13,000,000 ($122,330) is about ¥35,000 per tsubo (a tsubo is about 3.3-sqm), a great value for this area.
FAQs About Buying Property in Japan
How do I get a property loan as a foreigner in Japan?
Please see this article for information on: Getting a property loan as a foreigner in Japan
What is the process for buying a property in Japan?
Please see our step-by-step guide: Guide to Property in Japan
See how much you can borrow and your monthly payments in yen: Yen Mortgage Loan Calculator
For information about purchase and brokerage fees: Breakdown of real estate purchase fees and taxes in Japan
Need to know: Earthquake building codes and technology in Japan
Bilingual Real Estate Agent in Tokyo Answers Your FAQs on Buying and Managing an Investment Property
How much is my property worth?
Real Estate Japan is pleased to offer free, no obligation appraisals for owners of property in Japan. Please click here and fill out the form: How much is my property worth?
7 situations when you should consider selling your investment property in Japan
What are the main factors affecting home sale prices in Japan in 2019?
Seminars on Buying Property in Japan
Please see our seminar page for a current list of seminars on: how to buy a home in Japan, investing in Japanese real estate for beginners, how to apply for permanent residency in Japan, how to sell property in Japan, and much more.
Lead photo: Tennoji Station, taken July 29, 2014, iStock photo