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Henry Lobanov
Henry Lobanov

Buy Apartment Tokyo [PORTABLE]

PLAZA HOMES maintains an extensive number of up-to-date listings featuring a wide variety of Tokyo properties for sale. Search our listings for spacious houses, newly built condos in Central Tokyo and nearby suburbs, high-rise condominium apartments with panoramic views, used luxury apartments, expat residences, office buildings, revenue-generating and business properties, as well as undisclosed properties that are not publicly advertised.

buy apartment tokyo

At the 10 million yen price point in Tokyo, we are talking about studio apartments, referred to as 1R (one room with a small kitchen and bathroom) or 1K (one room with a kitchen separated by a wall) units.

When buying an apartment in an older building (or any building for that matter!) be careful to check the reserves in the Repair Reserve Fund or Sinking Fund. This is a fund that the apartment unit owners have established to fund future capital repairs in the building. Most buildings require that owners make a monthly contribution to the repair reserve fund, so this is one of the expenses that you should plug into your spreadsheet.

In central Tokyo (eg. Akasaka, Azabu, Roppongi, and Shinjuku) where land prices are high and zoning is dense, you will find a larger supply of apartments. As you look outside of the center and more towards the suburbs you will find more houses and less apartments (eg. Setagaya-ku, Ota-ku etc). Commercial areas such as Tokyo Station and Nihonbashi have mostly office buildings and very few apartments. In fact, the Marunouchi area in front of Tokyo Station does not have any apartment buildings.

The bayside areas of Shibaura, Konan, Odaiba, Tsukishima, Kachidoki, Harumi and Toyosu have a very large supply of relatively new apartments and prices tend to be lower per square meter than areas closer to Roppongi and Shibuya. These bayside areas are also built on reclaimed land, some of it polluted. The recent 2011 Tohoku Earthquake caused severe liquefaction to reclaimed land on the bayside area in Urayasu, Chiba. This caused a temporary, but steep drop in demand for apartments built on man-made islands but demand recovered following the 2020 Summer Olympic announcement.

The majority of apartments in Japan are freehold. This means the apartment comes with ownership of a portion of the land under the building. There are also leasehold apartments in Japan and in Tokyo, such as Park Court Jingumae, Hiroo Garden Forest and Azabudai Park House. In Japan, it is the land that holds its value over time, not the apartment, so be sure to confirm the type of land ownership rights.

Each apartment will have a land ownership ratio which is used to calculate the approximate size of land included. The land ownership size will depend on the total size of the block of land, the number of units in the building and the individual apartment size.

The average useful life of an apartment building is said to be around 60 years, although there are still older buildings around. As a building ages, it becomes more costly to repair and maintain. Eventually, a choice is made by the residents to rebuild.

One thing to be aware of when looking at older apartments is whether the building exceeds the current capacity ratio (yosekiritsu) or height limits. As zoning laws change over time, the building may have been built to previous zoning laws, while current zoning laws will only permit a smaller building to be constructed. This would mean that you could end up with a smaller apartment and may have to contribute more to the re-construction costs. In these cases, it can be difficult to get owners to agree to redevelopment. One building near Harajuku Station is currently undergoing this problem as the building exceeds current height limits.

Japanese apartments are typically smaller than their western counterparts. A two or three bedroom apartment in Japan may be between 50 70 sqm. Larger apartments over 100 sqm are far fewer in number as Japanese developers focus on smaller types which are easier to sell. Apartments over 250 sqm (2690 sqft) are an extreme rarity in recently built condominiums, but are more likely to be found in rental buildings aimed at the expatriate market, as well as in older buildings from the 1970s 1980s.

In Japan, south-facing rooms get the most sunlight throughout the day and are usually priced at a premium. In the cold winter, the sun is lower in the sky, providing more direct and warm sunlight into the property. In the summertime, the sun is directly overhead. North-facing apartments tend to get the least amount of sunlight, particularly in winter, and can be dark.

When buying new from a developer you may also have to pay a large fee upfront when purchasing the apartment, along with the usual monthly fees. A new building is also likely to have a schedule which outlines when extra payments are due in future years, although any changes must be voted on by the owners association.

Some apartments may include usage rights to one or more carparks, in which case you will have to pay a monthly fee for the carpark whether you have a car or not. Other apartments may have carparking within the building, but not included with the unit which means you only have to pay if you need to rent one. The average carpark in central Tokyo is approximately 50,000 Yen/month but may go as high as 100,000 Yen/month. Depending on the management bylaws, you may be allowed to rent your carpark out to another resident. Renting to someone outside the building may be allowed in some buildings, but in many cases it is prohibited.

Is this the beginning of a turnaround in the long-term upward trend in sales prices? The chart below shows the averages sales price of a newly constructed apartment in the Tokyo metro region from 2015 to 2021. The upward price trend started accelerating in 2020, driven by an extremely weak supply situation amidst strong demand-side pressure.

The pandemic has also opened up working-from-home opportunities to many workers. This has caused some people to consider buying a home, whether a condominium or single-family home, rather than staying put in an apartment.

One of the biggest challenges in Tokyo is that you must buy a vacant apartment. An apartment that is occupied may take years to vacate, as apparently renters are entitled to renew their leases with no price increase. If you want them to leave or even to increase their rent, they must agree to it.

Location in Tokyo is not as simple as finding the center of the city and trying to get as close as possible. The ideal situation is to get an apartment that is a short walking distance away from a station that hosts lines that provide good coverage.

Last, most apartments in our price range (around $100k US) were not only small but only really had one room. I felt strongly that we would want to have two rooms so that two groups or individuals could each have a little privacy.

The website list each area separately in order to make it easier for you to conduct your own apartment search. Even if an apartment that you like is currently not available you will be able to access information about the apartment for your records and inquire with us about its future availability.

The average sales price for a new apartment in the greater Tokyo area, as a whole (from January to November 2019) was 60,060,000 (US$ 549,000). This was a year-on-year increase of 2.4% and the second time that prices have hit the 60-million yen mark (the first was in 1990).

These terms have different meanings. Reform is used to describe the replacement of flooring and wallpapers and updates to specific areas, like the bathroom and kitchen. Renovation refers to a more complete overhaul, including potentially changing the walls and layout of the apartment.

The market for second-hand apartments in Tokyo is flourishing. According to REINS, in 2018, almost half of all apartment sales were used units, with numbers steadily increasing over the last few years.

Except as noted below, we gladly accept the return subject for EXCHANGE of unworn, unwashed or defective merchandise ordered from according to the below policy:Apartment 8 Clothing merchandise must be returned subject for exchange within 7 days upon receipt of item/s.Merchandise must be in saleable condition with all tags attached.Merchandise must be accompanied by the order form.Merchandise marked Final Sale on is not returnable.

Excellent opportunity for a multi-unit apartment building with a large front main house located in the highly desirable West LA location. Close to upscale restaurants and shops, earthquake retrofitted, close to Santa Monica and many more. First time on market, this 6-unit plus 1 house property is full of potential and ready for the perfect investor. The building is well maintained and offers on-site parking. Located in the prominent and highly in demand residential area surrounded with high end condominiums. Infinite possibilities for developers.

The housing market is quite flexible so you can even buy a decent property in Shibuya, a central ward of Tokyo. For example, you can buy two apartments in Asahi Mansion, a building built in 1998, with 14 floors. You can check it here. The price for one is 42,800,000 JPY which would mean roughly $412,000. Shibuya is a major commercial and financial centre of Tokyo, and it houses the two busiest railways stations in the world: Shinjuku station and Shibuya station.

Some schools have been willing to help facilitate this process, so contact your supervisor to see if they are willing to help you find a place to hold the appliances/furniture before you arrive and move into your new place. Unless your school is in the extremely unique position to arrange for you to inherit the apartment, you will only be able to get the furniture and appliances from your predecessor. In this case you have to be careful that your new apartment will fit the things you choose to buy/inherit. 041b061a72


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