Japan · Asia · Population: 14,000,000
Tokyo is a challenging market for first-time buyers, with steady growth in property values. The city has moderate rental prices. At $450,000 average home price in Japan, buyers should consider the 10.8x price-to-income ratio when planning a purchase.
| Average Home Price | $450,000 |
| Price per sqm | $9,500 |
| Price-to-Income Ratio | 10.8x |
| Mortgage Rate | 1.5% |
| 1-Year Price Change | +3.5% |
| 1-Bedroom Apartment | $1,200/mo |
| 3-Bedroom Apartment | $2,200/mo |
| Rent-to-Income Ratio | 28% |
| Median Household Income | $42,000/year |
| Years to Buy (at median income) | 10.8 years |
| Local Currency | JPY |
With a price-to-income ratio of 10.8x, Tokyo requires significant savings to purchase property. At a mortgage rate of 1.5%, monthly payments could consume a large share of income. Home prices have increased 3.5% in the past year.
Cities worldwide with home prices closest to Tokyo
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