Tips for Buying a Home in Tokyo
1.Reasons for foreigners to buy a house in Tokyo
There are many reasons why foreigners buy homes in Tokyo. Common reasons include investment, long-term residence, or living with family.
2. Types of houses available in Tokyo
There are many different types of homes available in Tokyo, including houses, condominiums, and apartments. Let’s understand the features and benefits of each and explore the options for foreigners to choose from.
3. Market prices in each area of Tokyo
Tokyo’s real estate market varies from area to area and from house type to house type.
| Newly Built and For-Sale Single-Family Homes in Tokyo’s 23 Wards | ||
| City Ward | Minimum Price($) |
Maximum Price($)
|
| Minato | 2,542,142.86 | |
| Shibuya | 634,285.71 | 1,856,428.57 |
| Meguro | 620,714.29 | 1,705,714.29 |
| Shinjuku | 498,571.43 | 684,285.71 |
| Nakano | 462,857.14 | 712,857.14 |
| Suginami | 448,571.43 | 1,191,428.57 |
| Toshima | 427,142.86 | 1,270,000.00 |
| Setagaya | 391,428.57 | 1,784,285.71 |
| Nerima | 341,428.57 | 820,000.00 |
| Bunkyo | 341,428.57 | 1,355,714.29 |
| Shinagawa | 334,285.71 | 785,000.00 |
| Itabashi | 299,285.71 | 920,000.00 |
| Kita | 298,571.43 | 984,285.71 |
| Arakawa | 285,642.86 | 506,428.57 |
| Koto | 285,000.00 | 584,285.71 |
| Ota | 284,285.71 | 928,571.43 |
| Sumida | 270,000.00 | 427,857.14 |
| Edogawa | 239,285.71 | 641,428.57 |
| Katsushika | 191,428.57 | 506,428.57 |
| Adachi | 177,142.86 | 570,714.29 |
| Chiyoda | NA | NA |
| Chuo | NA | NA |
| Taito | NA | NA |
| Average Prices of Pre-Owned Apartments in Tokyo’s 23 Wards | |
| City Ward | Average Price($) |
| Chiyoda | 101,155.45 |
| Chuo | 83,536.36 |
| Minato | 102,809.09 |
| Shinjuku | 65,227.27 |
| Bunkyo | 67,809.09 |
| Taito | 59,918.18 |
| Sumida | 50,000.00 |
| Koto | 47,081.82 |
| Shinagawa | 61,854.55 |
| Meguro | 66,218.18 |
| Ota | 45,909.09 |
| Setagaya | 52,554.55 |
| Shibuya | 80,863.64 |
| Nakano | 53,554.55 |
| Suginami | 52,200.00 |
| Toshima | 62,545.45 |
| Kita | 45,318.18 |
| Arakawa | 47,818.18 |
| Itabashi | 39,700.00 |
| Nerima | 40,627.27 |
| Adachi | 32,472.73 |
| Katsushika | 33,345.45 |
| Edogawa | 35,672.73 |
| Pre-Owned Detached Houses in Tokyo’s 23 Wards (for a Building Area of 100m²) | |
| City Ward | Average Price($) |
| Chiyoda Ward | NA |
| Chuo Ward | 75,536.36 |
| Minato Ward | 152,763.64 |
| Shinjuku Ward | 97,445.45 |
| Bunkyo Ward | 91,990.91 |
| Taito Ward | 73,136.36 |
| Sumida Ward | 70,672.73 |
| Koto Ward | 62,891.82 |
| Shinagawa Ward | 80,427.27 |
| Meguro Ward | 88,390.91 |
| Ota Ward | 62,845.45 |
| Setagaya Ward | 76,500.00 |
| Shibuya Ward | 121,082.73 |
| Nakano Ward | 76,750.00 |
| Suginami Ward | 70,854.55 |
| Toshima Ward | 78,927.27 |
| Kita Ward | 53,690.91 |
| Arakawa Ward | 54,745.45 |
| Itabashi Ward | 48,281.82 |
| Nerima Ward | 52,036.36 |
| Adachi Ward | 37,563.64 |
| Katsushika Ward | 42,100.00 |
| Edogawa Ward | 40,281.82 |
4. Points to keep in mind when buying a house in Tokyo
There are certain points to be aware of when a foreigner buys a house in Tokyo, such as legal procedures, taxes, and obtaining a loan. Make sure you understand these details to ensure a smooth buying process.
5. Future Outlook for Tokyo’s Detached Housing Real Estate Market (Central 23 Wards vs. Suburbs)
In the coming years, the real estate market for detached housing in Tokyo is expected to diverge between the central 23 wards and the suburban areas. Here’s a breakdown of the anticipated trends:
Central 23 Wards:
- Increasing Demand: Central Tokyo remains highly desirable due to convenient transportation access and urban amenities, attracting affluent residents and international migrants.
- Limited Supply and Rising Prices: Land scarcity in central areas continues to drive up property prices, including those for detached houses, sustaining high market values.
- Development Dynamics: Redevelopment and vertical expansion projects further reduce available land for detached homes, potentially increasing their exclusivity and value.
Suburbs (23 Wards Outside):
- Expanding Residential Development: Suburban areas outside the central wards offer more available land for residential development, catering to families and individuals seeking affordable detached housing options.
- Diverse Lifestyle Appeal: Suburbs appeal to those prioritizing spacious living environments, often featuring detached homes with yards and a quieter residential atmosphere.
- Improved Connectivity: Infrastructure improvements such as expanded rail and road networks enhance accessibility to central Tokyo, boosting suburban housing demand.
As the Tokyo real estate landscape evolves, the dynamics between the central 23 wards and suburbs are expected to shape distinct market trends. It’s crucial to monitor economic shifts, policy changes, and demographic patterns influencing residential preferences and property values in both areas.
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