What I found interesting in the link shared above was a listing about property prices in different prefectures in Japan. https://resources.realestate.co.jp/buy/average-price-of-an-apartment-i...
While I totally agree that investing all or even 50% of your savings into just one property is NEVER a good idea (property is hard to convert back into cash and you have all the costs of maintaining it and your ROI is just not very predictable because bubbles happen)c I do get the idea that you want a stable place in Japan if you plan to go to Japan regularly over extended periods. But does it need to be the most expensive city in Japan?
What about looking into Nara. Even Nara city center is pretty affordable. Yes, you canNOT expect that your investment will pay off financially but you get your own place , can keep your stuff there and feel at home.
Buying a vacation home in Japan for foreigners isnft that uncommon. I know quite a lot of Taiwanese who did that.
But donft buy it for investment. Not in Japan.
I am saying that as someone who actually owns 2 small apartments in Europe. One purely as vacation home. I donft expect any financial benefit from it. I just enjoy going there, looking at the beach and be happy. And the other one is rented out.
I looked at house prices in Japan recently and for me Tokyo just seems to be way too expensive. I havenft made detailed calculations but it seemed that renting is safer in Tokyo even though rents are high. But unless you really have a lot of gunused capitalh if you want to buy a half decent place you rack up 30 - 50 million Yen for a 50 - 70 m2 apartment. Or 100 - 250 k Yen in rent.
While In Nara city for something in similar size you are speaking about 5 - 15 million yen to buy, 40 - 100 k Yen to rent.
At that price I feel that buying can pay off. Not as an investment but for a stable place to have in Japan. It is not going to bind too much capital and even with a mortgage (which I really wouldnft take for a holiday home) itfs not going to be too much. https://www.homes.co.jp/smp/list/
This said I am still 80% sure that I will go back to Tokyo to live there. Currently thinking about it seriously as my new company offers me the choice of Tokyo or Osaka. And hell, even Osaka is SOOO much cheaper. About half of Tokyo! And I like Kansai, I just donft like Osaka. And I do like Tokyo. Plus the company office in Otemachi just look gorgeous. (While in Osaka it is in Honmachi) okay location, but nothing as juicy as Otemachi. But you do pay for the luxury of living the Tokyo dream.
So my current thought process is probably to live in Tokyo but maybe to get a weekend apartment either in Nara or in Karuizawa.
Maybe dreaming herec
So yes, my first advice to you would be:
- donft buy a property in Japan
- but if you are dead set for it, DONT consider Tokyo. Look at other options. Nara, Shiga, Aichic itfs cheaper everywhere. And you donft even need to go to very remote locations to get much more out of your hard earned money.
One other thing to consider is how to maintain an EMPTY house. If you can go pretty regularly itfs not a problem. But leave a house empty for months in end and youfll get damage. Mold, c