In this installment of the “what can you buy” series, we feature properties currently available in the greater Tokyo region for $250,000 or much less.
In 2017, the average listing price for a 70-sqm re-sale condominium in the Tokyo 23 Wards was ¥53,230,000. This year (2018), the average listing price for a single-family home in the Tokyo 23 Wards is about ¥64,870,000 ( a year-on-year increase of 8.5%). So a budget of $250,000 (¥28 million) would be less than half the price of the typical house for sale in central Tokyo.
After the examples, we give answers to FAQs about buying property in Japan as a foreigner.
Let’s take a look at some listings!
3BR House for sale in Tama City, 40-min ride to Shinjuku
Location: Tama is one of Tokyo’s western suburbs, popular with people commuting into the city who want to buy more space than would be possible with a starter budget.
Price: ¥24,800,000 ($222,000)
Size and Layout: 89.43 m² (962-sqft)
Floors: Two-stories
Land rights: Freehold
Year Built: 1996
Structure: Wood
1BR Lob Cabin-Style House for Sale in Ichinomiya, Chiba
Location: Ichinomiya is a town of about 12,500 people, located on the Pacific coast of Chiba Prefecture. It is about an hour and 40-minute train ride to Tokyo.
Price: ¥22,000,000 ($197,000)
Size and Layout: 90.88 m² (978-sqft)
Floors: Two-stories
Land rights: Freehold
Year Built: 2009
Structure: Wood
Notes: Natural hardwood throughout. Large wood deck.
2BR House in Odawara, Kanagawa
Where: Odawara is a scenic city located in Kanagawa Prefecture, famous for Odawara Castle. It is about a one hour and 15-min ride to Shibuya. About two hours south is the famous hot springs resort town of Hakone.
Price: ¥21,000,000 ($188,000)
Size and Layout: 80.92 m² (871-sqft)
Floors: Two-stories
Land rights: Freehold
Year Built: 2009
Structure: Wood
Notes: Sunny western- and Japanese-style rooms.
Renovated 2BR house for sale in Yokohama
Location: Yokohama is the new “it” location for couples and families looking to buy a home in the greater Tokyo region. It’s a beautiful bayside city located about 40-km south of Tokyo.
Price: ¥14,800,000 ($133,000)
Size and Layout: 74.52 m² (802-sqft)
Floors: Two-stories
Land rights: Freehold
Year Built: Built in 1993; kitchen, bathroom, vanity, and water heater recently renovated
Structure: Wood
Notes: Sunny western- and Japanese-style rooms.
4BR house for sale in Sagamihara, Kanagawa
Location: Sagamihara is located in Kanagawa prefecture and is the fifth largest suburb in the greater Tokyo area, bordering Machida to the north. It is a popular location for home buyers looking for the convenience of living near Yokohama and Tokyo, without paying city-center prices.
Price: ¥22,500,000 ($201,000)
Size and Layout: 104.30 m² (1,122-sqft)
Floors: Two-stories
Land rights: Freehold
Year Built: Built in 1994
Structure: Wood
Notes: Western- and Japanese-style rooms, 13-min walk to Odakyu Sagamihara Station.
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
Which Japanese banks lend to foreigners?
How to get a property loan in Japan an overseas investor
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
Good to know! Best places to live in greater Tokyo: 2018 Survey
Top photo: Fall foliage in Torii Hara Gardens, Sagamihara-shi, Kanagawa. Photo credit: 九沢のおいちゃん