The year has just begun but already on Real Estate Japan, we’ve seen a very strong year-on-year increase in inquiries for residential properties in Tokyo, Osaka, and smaller cities.
If you wanted to buy a new condominium in the greater Tokyo area, you would be looking at an average listing price of ¥59.08 million ($535,000), a year-on-year increase of 7.6%, and the highest level since 1990 (during the bubble years).
The situation is comparable in the re-sale market. Tthe average listing price for a 70-sqm single-family house in Tokyo is about ¥54.30 million. If you want to buy in Osaka, you would get some relief, as the average for Osaka prefecture, is less than half: ¥25.73 million.
So when we are looking at examples of houses in Japan selling for $150,000 or about ¥16.4 million, we’re looking at properties that are listing for about 28% of the Tokyo average.
Let’s take a look at some examples of properties currently on the market in Japan’s smaller cities with a list price of about $150,000 or less.
4BR House for Sale in Ishikari, Hokkaido
Where: Ishikari-shi, Hokkaido. Ishikari lies on the west coast of Hokkaido, about 15-km northwest of Sapporo
Price: ¥13,800,000 ($127,000)
Size and Layout: 4BR (4LDK), 118-sqm
Floors: 2-stories
Land rights: Freehold
Year Built: 1999
Notes: Bright and spacious, small deck and yard
4BR House for Sale in Nogi, Tochigi
Where: Nogi-machi, Tochigi. Nogi-machi, with a population of 25,300, is about 100-km north of Tokyo.
Price: ¥12,980,000 ($119,000)
Size and Layout: 4BR+ (4SLDK), 97-sqm
Floors: 2-stories
Land rights: Freehold
Year Built: 1983
Notes: Excellent natural light, renovated kitchen
6BR House for Sale in Kofu, Yamanashi
Where: Kofu, Yamanashi. Kofu is a city of about 193,000, located 130-km west of Tokyo
Price: ¥15,980,000 ($147,000)
Size and Layout: 6BR+ (6LDK), 170-sqm
Floors: 2-stories
Land rights: Freehold
Year Built: 1999
Notes: Spacious rooms with excellent natural light, several walk-in-closets, near the University of Yamanashi Kofu Campus
5BR House for Sale in Sakurai-shi, Nara
Where: Sakurai-shi, Nara. Sakurai has a population of about 58,000 and is 55-km southeast of Osaka
Price: ¥13,800,000 ($147,000)
Size and Layout: 5BR+ (5LDK), 135-sqm
Floors: 2-stories
Land rights: Freehold
Year Built: 1990
Notes: Japanese and western-style rooms, fenced landscaped garden, one parking space
4BR+ House for Sale Miki-shi, Hyogo
Where: Miki-shi, Hyogo. Miki has a population of 76,000 and is about 40-km northwest of Kobe
Price: ¥10,800,000 ($99,000)
Size and Layout: 4BR+ (4LDK), 138-sqm
Floors: 2-stories
Land rights: Freehold
Year Built: 1996
Notes: Interior completely renovated in July 2017, small yard, one parking space
FAQs About Buying a Home in Japan
Can a foreigner buy property in Japan?
Yes. You can buy property in Japan regardless of your nationality or country of origin. There are also no residency requirements for buying real estate in Japan. Securing financing as a resident foreigner is more complicated. For info on financing, please see “Basic Requirements for Getting a Mortgage as a Foreigner in Japan“.
How do I get a home loan as a foreigner in Japan?
Please see this article for information on: Getting a home loan as a foreigner in Japan
What is the process for buying a home in Japan?
Please see our step-by-step guide: Guide to Buying a Home 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