Buying Property in Tokyo

What Can You Buy in Tokyo Now For $220,000?

On Real Estate Japan this year, we saw a significant year-on-year increase in inquiries from people looking to buy homes and investment properties in Tokyo. This is against a market in which there is a very tight supply of new residential condominiums coming online in Tokyo’s central wards.

Below we give just a few examples of what is available in Tokyo for $220,000 (¥24,700,000) or less, which is less than half of the average price of a newly built condo in Tokyo.

If you wanted to buy a new condo in the greater Tokyo area, you would be looking at an average listing price of ¥58.84 million (525,800 USD, up 3.5% year-on-year), which is a price point approaching levels last seen at the peak of the asset price bubble.

Below the examples are answers to frequently asked questions about buying property in Japan as a foreigner.

Studio Apartment For Sale in Ebisu

Renovated studio apartment for sale in a premiere location near Ebisu Garden Place. Please click on the photo for the full listing, more photos, and to inquire directly to the agent.

Where: Midway between Ebisu and Meguro Stations on the Yamanote line. Excellent neighborhood, popular with ex-pats. See the Ebisu Housing Guide.

Price: ¥23,000,000 ($206,000)

Size and Layout: 21.44 m² (226-sqft) studio (1K)

Floor: 1st floor unit in 8-story building

Land rights: Freehold

Year Built: 2009, recently renovated

Estimated Gross Yield: Currently occupied with an estimated gross yield of 5.1%

Structure: Reinforced concrete

Notes: Recently renovated. Buy for your own use or as an investment property.

Studio Apartment for Sale in Shinjuku

Studio apartment for sale in an excellent location near JR Shinjuku Station. Please click on the photo for the full listing, interior photos, and to inquire directly to the agent.

Where: Excellent central location, 7-min from JR Shinjuku Station.

Price: ¥23,800,000 ($213,000)

Size and Layout: 22.62 m² (243-sqft) studio (1R)

Floor: 3rd-floor unit

Land rights: Freehold

Year Built: 1999

Estimated Gross Yield: Currently occupied with an estimated gross yield of 5.1%

Structure: Reinforced concrete

Notes: Excellent location. Buy for your own use or as an investment property. Please click on the photo for interior photos.

Studio Apartment For Sale in Shibuya

Studio apartment for sale near JR Shibuya station. Please click on the photo for the full listing, more photos, and to inquire directly to the agent.

Where: Excellent location, 6-min from JR Shibuya Station.

Price: ¥23,500,000 ($210,000)

Size and Layout: 22.11-sqm² (237-sqft) studio (1K)

Floor: Top 4th-floor unit

Land rights: Freehold

Year Built: 2003

Estimated Gross Yield: Currently occupied with an estimated gross yield of 5.3%

Structure: Reinforced concrete

Notes: Desirable location in Shibuya and 15-min walk from Omotesando.

Studio Apartment for Sale in Near Shinjuku Gyouen

Studio apartment for sale near Shinjuku Gyoen National Park, one of Tokyo’s best green spaces and cherry blossom viewing spots. Please click on the photo for the full listing and to inquire directly to the agent.

Where: Excellent location, 6-min from Shinjuku Gyoenmae Station on the Marunouchi line, two stops from Shinjuku.

Shinjuku Gyoen National Garden.

Price: ¥20,500,000 ($183,000)

Size and Layout: 19.88-sqm² (214-sqft) studio (1K)

Floor: 5-th-floor unit in 6-story building

Land rights: Freehold

Year Built: 2001

Estimated Gross Yield: Currently occupied with an estimated gross yield of 5.3%

Structure: Reinforced concrete

Notes: Desirable location in upscale neighborhood near Shinjuku Gyoen National Garden and walkable to Shinjuku shopping and entertainment.

3BR House for Sale in Hachioji, Tokyo

3BR house for sale in Hachioji, Tokyo. Please click on the photo for the full listing, interior photos, and to inquire directly to the agent.

Where: Hachijoji, a city in western Tokyo, about a 30-minute direct ride from Shinjuku Station

Price: ¥20,800,000 ($186,000)

Size and Layout: 86.33-sqm (929-sqft), 2-story 2-bedrooms, Japanese and western-style rooms

Floors: 2-stories

Land rights: Freehold

Year Built: 1998

Notes: For a budget of about $220,000 you can  buy more square meters outside central Tokyo!

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