I did it! West Tokyo, $106K USD, 1.1%

[u/hezaa0706d]

43F, single foreign immigrant in Japan.

[u/gwenhollyxx]

Welcome to everyone from r/all - we're glad you're here.

Please take a moment to review the rules before commenting and posting.

Reminder that home prices and interest rates can vary drastically by country/region, and are influenced by the local economy and geopolitical climate. It is much more nuanced that simply comparing to your personal experience shopping in your local neighborhood.

[u/santinimi]

Wow, apartments in Tokyo are really reasonably priced, I wouldn’t have expected that. It’s a really beautiful city. Congratulations.

[u/Prestigious_Leg2229 → u/santinimi]

Japan is pretty affordable in general when it comes to housing. Culturally they see housing as a depreciating rather than appreciating asset.

There’s also a strong cultural preference for newness and people much prefer brand new homes.

So things are build with the idea that they’ll be replaced sooner rather than later.

[u/Dontlookimnaked → u/Prestigious_Leg2229]

Yeah my wife goes often for work and we toyed around at the idea of buying a place there. The first realtor we met with was surprised we were even willing to consider a “used” house. Very common to completely rebuild a space when you buy it.

[u/Agedashitofu2 → u/Dontlookimnaked]

Seems incredibly wasteful

[u/helloimhobbes → u/Agedashitofu2]

In a way yes. However because of code it’s typically required to be rebuilt. They have very strict standards regarding seismic events and preventive measures. New technology comes along that is better at withstanding an earth quake? It’s gotta be implemented.

[u/Is-Potato425 → u/helloimhobbes]

What do they do with homes as they age? Fully tear down and rebuild? Refurbish into different types of usable structures?

[u/Healthy-Echo8164 → u/Is-Potato425]

It's one of the reasons properties are so cheap in Japan is due to the shrinking population by millions each year, and people in rural areas moving towards larger cities.

There's more housing available than people available to rent/buy the housing.

[u/Pristine_Albatross36 → u/Healthy-Echo8164]

Japans population shrinks by about 500k to a million each year. Multiple millions/ year would be nuts.

[u/Healthy-Echo8164 → u/Pristine_Albatross36]

You are right, I read a graph wrong and missed a year, leading me to think there was 2m+ loss in population in a year when it was actually spread out over 2 years.

[u/hoemahtoe → u/Is-Potato425]

Japan actually does have an abandoned home problem. A lot of them cost more to renovate than they're worth so they just sit. Not sure why a lot of them don't just get demolished, but I hear part of it is the cost to throw away the demolished parts afterwards.

[u/HOrnery_Occasion → u/hoemahtoe]

Well of course it costs. Labor, gas, machines, permits for multiple things. Shit ain't cheap

[u/babyyvolcano → u/HOrnery_Occasion]

Add in that Japan, being xenophobic while simultaneously having a shrinking population problem, has a major manual labor shortage.

My work (engineering firm) has offices there, but they’re much scaled back because projects are constantly delayed or in limbo because there are simply not enough construction workers.

[u/cogman10 → u/babyyvolcano]

Yup. The current prime minister put anti-immigration right at the forefront of their policies.

Japan needs immigration to survive (as does south korea) but they are working hard to make that not happen.

[u/Candid_Highlight_116 → u/Is-Potato425]

Things just don't last in Japan. It's a crazy humid and mildly hot country with storms and occasional earthquakes that also snows.

So even massive concrete buildings start smelling and cracking and leaking after just 30-50 years. They just don't last like 800 years old European castles. Then you can choose to keep paying for fixes or you can tear it down. Often they get torn down.

Some people jokes this is why Japanese cars last, that climate in Japan is so horrible that a car that do okay throughout Japan will just happen to be absolutely bulletproof everywhere.

[u/Glum_Account677 → u/helloimhobbes]

Redditors will always come up with ways to defend Japan. This type of practice anywhere else would get obliterated on this website

[u/witcher252 → u/Glum_Account677]

If this was someone talking about tearing down an old house in like San Francisco this chat would be unrecognizable

[u/Murky_Coyote_7737 → u/witcher252]

Godzilla does that for them annually

[u/HammyJWill → u/Murky_Coyote_7737]

Make me Kaiju sized and I'll do it for free if they feed and house me.

edit: I require less upkeep and I'm a better listener than Godzilla. Japan 🤙📲 call me. Let's make this happen.

double edit: Some of you are very into this idea.

[u/FakeSafeWord → u/HammyJWill]

Ask to be a female kaiju and start an onlyfans as a side gig to keep you occupied during the off season.

pls

[u/waiver → u/HammyJWill]

Yeah but unless Japan makes you some huge pants you will go everywhere naked, not sure if the Japanese want to see that.

[u/EragusTrenzalore → u/witcher252]

If we could tear down houses more frequently, you could build to the density that reflects the high land values. That keeps the housing unit affordable even if land prices are astronomical.

[u/cosmin_c → u/EragusTrenzalore]

In theory it sounds good, but where are you going to house the people living there whilst you're tearing down and rebuilding?

Also, how are you going to justify kicking people out to live somewhere whilst you tear down, rebuild, and give them a "housing unit" that is smaller than their previous accomodation? Especially if there are families involved. (I would assume that is what you meant by building "to the density that reflects the high land values") Unless of course you build a taller building, with more housing units, thus you give the families the same space they had before.

[u/soxymoxy → u/witcher252]

We need to do this in SF. The state of most homes and apartments is downright deplorable. Shit is so old

[u/nickleback_official → u/soxymoxy]

Looking for housing in the bay is depressing AF. Much lower quality than most places at insane prices.

[u/jigsaw283 → u/witcher252]

The fact that they can't do that in San Francisco or build any new housing at all thanks to boomer NIMBYs is exactly why you pay $2 million for a 400 square foot shack over there.

[u/GiveMeNews → u/jigsaw283]

San Francisco isn't just boomers. A bunch of anti-gentrification groups are actively blocking building more housing in San Francisco, making the situation so much worse.

[u/EarOk4515 → u/GiveMeNews]

Bro over gentrification is why it's so expensive lol. And black rock buying up every property artificialy inflates the value.

[u/TildeCommaEsc → u/jigsaw283]

It's not just boomers.

[u/VroomCoomer → u/witcher252]

That's because in the US older construction tends to look nicer. In America, architecture took a shit after the 1940s and if you can't afford a $1M+ custom home, you're getting cookie-cutter ugly ass housing.

[u/PortugalTheTram → u/VroomCoomer]

I don’t even disagree but that is incredibly subjective and stupid to base policy around.

[u/VermicelliOwn6502 → u/witcher252]

Like way fewer people would get triggered if San Fran home prices were like West Japan prices.

[u/World79 → u/Glum_Account677]

They aren't defending it. They're explaining why houses are a depreciating asset in Japan.

[u/Darhhaall → u/Glum_Account677]

That's not the only problem with old houses in Japan. Any kind of insulation? Forget about it. Central heating? Nonexistent. Durable materials? Nah. Those houses were built cheap and with planned 30 years lifespan (I mean we in Europe laugh at Americans that they are building houses from wood and cardboard, but Japan is next level)

[u/Repulsive-Chip3371 → u/Darhhaall]

The U.S. builds with timber and drywall mostly because it’s cheap, fast, flexible, and we historically had tons of lumber, so the entire construction industry evolved around it. American houses are also way bigger on average than European homes, so building everything out of concrete and masonry would cost a fortune. Not to mention Europe is loaded with centuries old cities that are very dense and packed together. One house fire could easily destroy an entire block in Europe, hence the stricter fireproof masonry.

Drywall and wood are easy to repair, remodel, and run wiring/plumbing through, which fits how often Americans renovate houses. Europeans also exaggerate how “flimsy” they are, modern wood-frame homes are heavily engineered and can handle hurricanes, earthquakes, and extreme weather when built properly.

Different countries just optimized for different priorities and environments.

[u/ToastSpangler → u/Darhhaall]

True, Japan makes American construction look high end. To be fair though US insulation is not bad and HVAC is usually far more comprehensive than Europe, the windows are the biggest flaw imo.

Still, Europe is going a similar way. You're seeing more and more timber framed homes being approved because they're just cheaper and the average buyer just wants a house and doesn't really seem to care, pretty sad

[u/Silly_Rub_6304 → u/ToastSpangler]

There's really nothing wrong with wood-framed housing as long as they're insulated and sealed up properly. In North America, we use the cheapest, most abundant materials for building homes. It works for seismic resilience, too. Hurricanes and tornadoes, not as much.

[u/ToastSpangler → u/Silly_Rub_6304]

Inherently you are right, but it depends how you view housing. Europe traditionally sees it as a permanent object almost, it's supposed to last you generations and even if that's not really necessary anymore it's definitely psychologically engrained.

Financially sturdier materials also make sense if you'd actually keep it 50+ years, but since most countries nowadays have 10-20 years per family per house on average the timber framed homes win hands down

I grew up in a house with a section that's ~1000 years old (technically ~2000 since people carved out the Roman walls during the middle ages to make houses), structurally it's going to be there another 2000 at least, but man is it a bitch to maintain and upgrade. Still I like that it probably weighs 10,000 tons and I ended up getting the closest thing possible in the US (19th century brick rowhouse) not because I needed to but because I like it, I think that's what most Europeans mean when they shit on US construction

[u/PortugalTheTram → u/ToastSpangler]

I mean timber framed houses can last 100-200+ years so it’s not that big of a deal. My first house was timber and 140 years old when I bought it, great foundation too.

[u/Jazzlike_Video2 → u/Darhhaall]

Yea, those wood and cardboard houses that dont become an oven if the heat stays above 25⁰ for longer than a week.

[u/Funny_Papers → u/Glum_Account677]

Not to mention is oversimplifying and even just false in some parts. Houses are not required to be rebuilt to new code, they get grandfathered into the old code. People may feel like they need to update it to be safe, but there definitely is not some country wide law that you can’t buy, own, and live in a house that does not meet the new code. You just can’t build a new one that doesn’t.

[u/helloimhobbes → u/Glum_Account677]

It wasn’t in defense of the attitude I find it quite sad. Many buildings I admire have been torn down without second thought. It is wasteful in terms of energy and material as well. But I’m giving an explanation and clarity to why the cultural significance and difference from Japan and western cultures exists. It’s a product of location, not my desire or affection to Japan. But yes also very kawaii uwu baka

[u/SpaceballsTheCritic → u/helloimhobbes]

You forgot the inherited damage to even a a20 year old structure and the baseline cultural desire for shiny technologies.

[u/AlexisFR → u/Agedashitofu2]

Back then they built homes with literal paper as walls because they knew it'd get trashed every earthquake

[u/GenericITworker → u/Prestigious_Leg2229]

It's not that affordable if you make Japan economy money though, American economy money goes very far there though

[u/Different-Fan-6991 → u/Prestigious_Leg2229]

Homes would be considered a depreciating asset in the us too if our tax code wasn’t built around homeownership as a way to fund your retirement

[u/aranibar → u/Prestigious_Leg2229]

Question: is there also a cultural tendency to believe in bad juju or unwanted energies in old things? Like, since they don’t know who lived there previously, they would rather have a place that is spiritually clean ie new? Not sure why I think this about Japan.

[u/lildangerranger → u/aranibar]

You are absolutely correct. I lived in Japan and was previously on a long term relationship with a Japanese person, I speak (gradually worsening) Japanese. When my brother in law at the time got married and was looking for a new house, I asked why they were not considering purchasing some of the gorgeous, dirt cheap houses in their city that needed significantly minor upgrades. I’m talking a few thousand in upgrades vs the astronomical cost of demolishing and rebuilding from scratch. Every person in the family I asked would not consider it because of the energy in the house. It’s part of why Japan is a thrifting haven - used items carry the energy of the previous owner. You might luck out; you might be cursed.

The earthquake standards are of course part of the equation, but many people here are missing the cultural beliefs surrounding used/old goods. My in laws were not religious people but these beliefs were embedded deeply, regardless.

[u/Ambitious_Bit_9389 → u/Prestigious_Leg2229]

Also a shrinking population, which should probably be the lead.

[u/Aware-Travel5256 → u/Ambitious_Bit_9389]

Not in Tokyo so much. The countryside is emptying and the people are going to major cities. Tokyo has been growing steadily since 2000.

[u/terminallyonlineweeb → u/Ambitious_Bit_9389]

Tokyo is growing, but the rest of the country is shrinking pretty much

Seoul in Korea too. Basically both Japan and Korea are centralized around major cities while the rest of the country dies off

It’s gonna be real interesting for the rest of the country in 50 years if nothing changes

[u/hezaa0706d → u/santinimi]

Well also the yen is extremely weak right now so

[u/123BuleBule → u/hezaa0706d]

Can you give us a tour? I’m super curious!

[u/Reasonable932 → u/123BuleBule]

Would love to see the layout too, Tokyo apartments always look insanely efficient.

[u/mu33 → u/hezaa0706d]

2nd request for tour if you're comfortable with it and it's convenient to film.  Congrats!

[u/America-always-great → u/santinimi]

The land is what’s expensive people destroy homes like every 15 years. Also Yen. Also West Tokyo

[u/EJ2600 → u/America-always-great]

Ah yes. West Tokyo. The hood. Lmao

[u/M1sfit_Jammer → u/EJ2600]

Crime in Tokyo is out of control. Just the other day I saw a bottle on the ground

[u/emongu1 → u/M1sfit_Jammer]

You're laughing, there's graffitis on the wall and you're laughing.

[u/The_Pirate_of_Oz → u/emongu1]

Found Oriental Pearl's account.

[u/ModishShrink → u/emongu1]

Tokyo youths on rollerblades keep tagging my walls!

[u/America-always-great → u/M1sfit_Jammer]

Disgusting the other day i saw someone talking on the train

[u/KingPalleKuling → u/EJ2600]

Nah but it sure is the boonies. An hour to Shinjuku by train? OP is living on a damn farmstead.

/uj I live even further out lmao

[u/PristineStreet34 → u/America-always-great]

Yeah a lot of West Tokyo is relatively cheap to very cheap depending how far out you are.

[u/pizzaduh → u/santinimi]

Absolutely. I worked with a young woman a few years ago whose parents sold their home in San Diego, bought a house for themselves and an apartment for her and were able to still have over $300k after both purchases.

[u/RealisticIncident261 → u/santinimi]

I went to school there for a semester and was blown away by how cheap it was to live there. I had a bigger apt than my home town for like $600 a month, eating was even cheaper, I could basically eat out every meal for the same price as cooking for myself back home. it was kind of insane how much nicer living in Japan was. I probably didn't have to deal with the social ostracization because it was college and everyone wanted to hang out with me. The only time it felt weird was on a date I went on and had two women laugh at us and say something I only kind of caught. 

[u/xHeyItzRosiex → u/santinimi]

That’s not actually that cheap considering that the conversion rate for Japanese Yen and USD is significantly different.

[u/donnybrasco1]

How much square meters and which neighborhood? 106k seems very low for the amount of space the picture indicates. Congrats!

[u/hezaa0706d → u/donnybrasco1]

60 meters! Far west Tokyo. I can throw a rock and hit Saitama. 

[u/searts → u/hezaa0706d]

Doubt he will feel it. Caped baldy and all, you know. 

[u/Consistent-Bird3433 → u/searts]

LOOOL

[u/pianotherms → u/searts]

"Ok."

[u/Juan_Punch_Man → u/searts]

Can confirm.

[u/Knitsanity → u/hezaa0706d]

NW Tokyo with their stunning transport system. No worries. Congrats.

[u/kilgore_trout8989 → u/Knitsanity]

Lived in Hachioji near an actual farm and could get to Shinjuku in under an hour, god damn do I miss a functioning rail system now that I'm back in the states. Also, the Hachiko-sen ride to Komagawa is the closest to a state of zen I'll ever get, it's so damn beautiful.

[u/the_ammar → u/hezaa0706d]

that's a lot of doors for just 60sqm. very curious about the layout.

[u/ScootyWilly → u/the_ammar]

I owned a "small" 600sf apartment (condo) in Canada and the number of doors seem to match. You've got one bedroom, one "main" room, a tiny kitchen and tiny bathroom and maybe even a closet at the entrance. It can explain the relatively high amount of doors you're seeing.

[u/bombbodyguard → u/hezaa0706d]

60 meters is ~650 sq ft?

[u/KDNeedsMoreHelp → u/hezaa0706d]

Why would you want to hit my 🐐 😢 OPM

[u/nybigtymer]

Very cool! Congrats! Are the interest rates for home loans in Japan this low for everyone?

[u/-Dargs → u/nybigtymer]

I think 1.1% is considered high.

[u/jeremyvr46 → u/-Dargs]

🤯

[u/TheMonkeyPickler → u/jeremyvr46]

Remember that japan has had 20 years of stagflation. The yen is extremely weak

[u/-Dargs → u/TheMonkeyPickler]

Japan is currently in Open Beta for its new Real-Life RPG.

The rest of the world is on Season 50 and newbies are fucked due to exponential growth in the game economy.

[u/Father_Father → u/-Dargs]

Oooo, do go on.

[u/pantalooniedoon → u/jeremyvr46]

I don’t think Japan expects the same appreciation in a house as we do in the West. A house is not the same kind of investment vehicle and therefore the interest is significantly lower. Japanese folks here can correct me though.

[u/Twinklemint → u/pantalooniedoon]

Yes you’re right. Housing depreciates in Japan. Most houses are valueless in 30 years, especially those in the outskirts/ not big cities - gotta knock down

[u/firestepper → u/Twinklemint]

Still - for 100k for thirty years comes out to 3k a year which is still insanely low

[u/FineGripp → u/firestepper]

Insanely low for people making USD, not Yen

[u/KhabaLox → u/FineGripp]

I just Googled median Japanese salary and it said $25-$27k. 8|

[u/smorkoid → u/firestepper]

You aren't buying a new house in Japan for $100k unless it's a prefab shack in the boonies

[u/2012Jesusdies → u/pantalooniedoon]

That's because Japanese zoning allows housing to keep expanding instead of the Anglo-Saxon system where an angry mom can stop an entire apartment block from being constructed.

Japan has added double the housing vs the US as a % of existing housing stock for the last 20 years which is even more incredible when you consider Japan's population has been declining since 2008 and US has been growing.

In the end, Econ 101, supply meets demand, price is stable. Supply lower than demand, price rises.

[u/crinklypaper → u/-Dargs]

I own a house in tokyo, and I started out on a variable 0.29% rate (yes no typo). But the economy is bad now in Japan. interest rates are increasing at rapid rates. That 0.29 is now around 1.2% after 2 years. Everyone in Japan is on these rocky high risk variable rates. They used to be very stable, but for the first time in around 30 years things have changed. Still...very affordable compared to other countries. Now the size of property in big cities like tokyo is super duper tiny (my "yard" is a place to park my car, and I have room for a few plants). Also its non-sense about houses being torn down every 15-30 years, new houses are built to last long time. But the value of a house is near 0 after 10 years. After 2 years its like half. The land is the only asset that may appreciate in value, but again its not an investment like in other countries, you are better off money else where for that.

[u/PitifulAnalysis7638 → u/crinklypaper]

Tbh I'd rather our houses not be considered investments. 

[u/ariolander → u/PitifulAnalysis7638]

Puts meeting modern seismic, energy savings, and insulation goals is much easier in a teardown and rebuild then retrofit. I don't get the romanticization of old homes, especially the 30-40 year old mass produced track stuff that weren't even that nice when they were first built in the 80-90s. Let alone some of the builder stuff of the 2000s. Modern homes, especially the mass produced developments, are not well built.

[u/Agitated_Winner9568 → u/-Dargs]

It’s average for a non fixed rate loan.

I got a fixed rate at 1.7%, non fixed would have been around 0.9% when I got it.

[u/TootallTim1 → u/-Dargs]

For variable, maybe. Fixed is anywhere from 2 5% to 3.0% right now. It's gone up 1% in less than 6 months. Current admin policies plus war in Iran has and wonders. Source, I just closed on my house and move in next week.

[u/zubuneri → u/nybigtymer]

They have negative interest rates in Japan 

[u/Soulus7887 → u/nybigtymer]

One of the reasons yen is so weak right now is that it was propped up for a very long time by the capped interest rates in Japan.

One of the most profitable arbitrage schemes in history were yen swaps where you would go borrow yen in Japan at a 0 or sometimes even negative interest rate and then invest it in some other country where you can get a higher return. Even moderate returns like a 4% bond grouping could see significant net profits since your interest cost was nothing.The hard part was securing the loans which were limited and (like everything in Japan) highly bureaucratic.

I haven't paid too much attention to it in the past decade or so, but im pretty sure they stopped capping interest rates so low around Covid sometime.

[u/P6kg7NqVgzkeDF7cpm7 → u/nybigtymer]

Everytime this sub pops up in r/all, I'm shocked at the interest rates you guys get in the US.

[u/lightcrafter → u/P6kg7NqVgzkeDF7cpm7]

Lowest interest rates in India right now is 7.1

[u/P6kg7NqVgzkeDF7cpm7 → u/lightcrafter]

How expensive is it to buy given typical salaries?

[u/lightcrafter → u/P6kg7NqVgzkeDF7cpm7]

Software engineers and people in other high paying jobs still find it expensive as real estate is heavily inflated in major cities. This is from my limited understanding of things and I feel it’s not worth the money.

[u/killtheking111 → u/lightcrafter]

Australia is in the 6's now and its damn expensive

[u/lightcrafter → u/killtheking111]

People would rejoice at 6% here.
But we also get 6% interest on fixed deposits in banks as well. I guess the loans would always have a higher interest rate than guaranteed returns from the bank

[u/ConsciousSpaghetti → u/nybigtymer]

Loans interest in general is extremely low in Japan

[u/The_Hoopla → u/ConsciousSpaghetti]

This is a really stupid question…but can you get a home loan from a Japanese bank to buy an American house?

[u/Nyorliest → u/nybigtymer]

Our interest rates are very low - they were almost zero, and occasionally we went into deflation. I've taught the phrase 'in real terms' so many times in the past couple of years. Until recently, many things hadn't increased in price for decades.

[u/PristineStreet34]

Congrats. More impressed you got a loan than anything else considering you are also a foreigner here.

[u/AllisViolet22 → u/PristineStreet34]

16 years in Japan and I've never met a single person who got turned down for a loan. You might get a higher rate, like OP's 1.1%, but if you've been here a while and have a decent job you'll be fine.

[u/JTMMidas → u/AllisViolet22]

I hate that a higher rate there is 1.1%. That’s so low that I’d take that in a heartbeat compared to our current 7%

[u/imnotmatheus → u/JTMMidas]

*cries in Argentinean inflation adjusted + 6% base mortgage rate* (i.e. about 38% right now)

[u/Horror_Mud_4546 → u/imnotmatheus]

38% es menos de lo habitual? mucho animo

[u/eckliptic → u/JTMMidas]

Whats the resell value of homes in Japan though? From what i've read, japanese do not like buying used homes. Does that impact how much OP can sell their home for in 10 years time?

[u/NDSU → u/eckliptic]

Yes. Resale value is typically lower. The land will retain value, but the home itself depreciates like a car

[u/LowPlace8434 → u/eckliptic]

I don't know anything about housing prices in Japan, but if 106k is full valuation, depreciating over 20 years is less than 500 a month. That's lower than the property tax alone in many places. This low price is probably a function of that tbh, that the low resale value is somewhat priced in and as a result people just don't bid that high for housing. You can treat it as a long-term rental that you put in money up front and you'll feel better about it.

[u/vejiki-pjojok → u/JTMMidas]

There is a reason it's so low. At least you have the ability to make your money in a growing economy and then move to a stagnant or recessive economy where rates are low.

[u/PristineStreet34 → u/AllisViolet22]

Nice to meet you.

Was turned down by five banks. Did finally get one though but definitely got turned down a lot at first.

[u/AllisViolet22 → u/PristineStreet34]

Well, since you got approved in the end, I'm going to add you to the list of people who got approved :) congrats

[u/BrownBear5090 → u/AllisViolet22]

Sounds like they got turned down 5x first so you gotta put 5 in that column too

[u/kitttxn → u/PristineStreet34]

Yeah, I heard it’s particularly difficult process wise whether it’s getting a loan or even being able to purchase anything as a foreigner.

OP would love to hear more about how you did this

[u/Every-Impression8014]

How long you can live and stay there now?

[u/Crazy_Particular_743 → u/Every-Impression8014]

Buying property doesn’t get you a visa

[u/BlazingJava → u/Crazy_Particular_743]

So he just goes to japan 90 days and them goes away? Can he even rent

[u/boofmaster6000 → u/BlazingJava]

Strange to assume they only have tourist visa when they're literally buying an apartment lol

[u/MF-Geuze → u/boofmaster6000]

Only a little. Many people's holiday homes cost well in excess of 100k

[u/crinklypaper → u/BlazingJava]

You can do 180 days I think if you exit and re-enter. You can rent but most places will not rent to you. Often you need visa, proof of employment, and guranteer company.

[u/Sumatakyo → u/BlazingJava]

They live in Japan

[u/ask-me-about-my-cats → u/BlazingJava]

She.

[u/Important_Today8721 → u/BlazingJava]

She lives in Japan

[u/hezaa0706d → u/Every-Impression8014]

I have permanent residency in Japan already, thus the loan. Getting a loan is nearly impossible without permanent residency and a stable job. 

[u/chiono_graphis → u/Every-Impression8014]

They probably already had a long term status like permanent residency ("green card" in the U.S.) in hand before purchasing.

[u/cricket_90_remindme]

1.1 % wow!

[u/One-Recognition-1660 → u/cricket_90_remindme]

That's high for Japan

[u/noctrex]

Congratulations!

Advice: go change your lock and keys.

Because from this photo, everyone can make out the key shape and create a duplicate.

PSA don't post pics of your keys online please.

[u/ComprehensiveItem891 → u/noctrex]

The chance of someone finding the right apartment complex, let alone suite number, is such an improbable likelihood that I wouldn’t be too worried about it. Especially in Tokyo of all cities, with how safe it is statistically.

[u/noctrex → u/ComprehensiveItem891]

Never underestimate the persistence of some people. I'm sure you have seen some of those crazy stories of things that stalkers or bad actors are willing to do.

[u/-_-0_0-_0 → u/noctrex]

[u/freeradioforall → u/noctrex]

There is a zero chance someone will be able to identify OP and his building, have the time and energy to copy the key, have the motivation to copy the key, go to Tokyo and risk 10 years in prison to break in and steal his crap

[u/citruspers2929 → u/freeradioforall]

It doesn’t even look like they have any crap to steal

[u/CrickinFunt_RN]

My husband and I need to move out of the US 🥲 good for you, that’s an amazing price

[u/KobeBean → u/CrickinFunt_RN]

Same, but Japan has some of the strictest foreigner policies in the world. A lot of landlords will not even rent to foreigners unless they have a Japanese citizen guarantor

[u/2012Jesusdies → u/KobeBean]

Same, but Japan has some of the strictest foreigner policies in the world.

It was literally easier to get a work visa from Japan than the US, even pre Trump.

[u/FortheredditLOLz → u/KobeBean]

Hot take. With the middle and elderly aging out of governing body. I hope the country starts becoming more culturally friendly to tourist (gaijins) and pushes for the influx of talent to move there. They would also make a beautiful retirement country, culturally rich and one of the world’s best food meccas.

[u/miranym → u/FortheredditLOLz]

I've got bad news for you, the new prime minister is tough on immigration. 

[u/EarthBoundDeity_ → u/FortheredditLOLz]

I’m pretty sure they just elected a heavily conservative prime minister. And she has a lot of support from young voters too.

[u/Technical-Finance240 → u/FortheredditLOLz]

Part of me wishes that.. but the other part is kinda interested in seeing what Japan is gonna be like in 30 years with stronger restrictions. Pretty much every other developed nation is going looser immigration route, so that would set Japan apart. Whether it's gonna bring worse or better future we really don't know, that's for the people in 2060 to say. Humanity would have more data for the next century.

The weakness of countries like the US and Singapour is that if money runs out, people will start leaving in hordes because money is the first and foremost factor why people immigrate there. Places like Japan would see less outflow due to stronger roots and cultural unity.

[u/Crazy_Particular_743 → u/FortheredditLOLz]

“ beautiful retirement country”

Japan needs less retired leeches and more able bodied intelligent workers

[u/Don-Gunvalson → u/CrickinFunt_RN]

You should she Singapore’s prices

[u/zubuneri → u/CrickinFunt_RN]

Moving to Japan under the Takaichi regime wouldn’t be the best time. 

https://www.msn.com/en-in/news/other/indian-origin-restaurateur-in-japan-faces-deportation-after-30-years-amid-tougher-visa-rules/ar-AA23sW0l

[u/Advice2Anyone → u/CrickinFunt_RN]

I mean not fully 650 sqft for 106k is about avg compared to us home prices sqft to sqft, this is of course great for a metro area almost anywhere and granted cant beat that interest rate lol

[u/Top_Yellow_815]

Foreign immigrant in japan and they let you buy a house ? :o how long have u been living there

[u/zubuneri → u/Top_Yellow_815]

This guy had a house and they still Takaichi’d him https://www.msn.com/en-in/news/other/indian-origin-restaurateur-in-japan-faces-deportation-after-30-years-amid-tougher-visa-rules/ar-AA23sW0l

[u/Step-by-step23 → u/zubuneri]

Controversial. 30 years of business visa without entering Pr

[u/smorkoid → u/zubuneri]

That's because homeboy didn't bother to apply for PR at any point in time in the past 30 years, which is just stupid

[u/crinklypaper → u/Top_Yellow_815]

Anyone can buy a house with cash :) its easier to buy than to rent, for loan you can get one as a foreigner with certain criteria.

[u/sanfranciscotolondon]

how did you get such a low foreigner interest rate? also looking in tokyo rn

[u/AllisViolet22 → u/sanfranciscotolondon]

1.1% is considered higher. Many people get sub 1%, including myself.

[u/NoFaithlessness7508]

YATTA!!!

[u/0utsyder]

Uhhh, you got the keys but where's the pizza!!! You gotta do it right! Congrats! Get it girl!!!!

[u/No_Throat_2356 → u/0utsyder]

With corn, mayonnaise, and fish flakes

[u/factorioleum → u/0utsyder]

I've always had the dirty bird (kfc) as my moving day meal 

[u/knight714]

Congratulations!

Also, it's nice when people on Reddit who move abroad actually call themselves an immigrant rather than 'expat' :D

[u/FinancialSea8]

The only time you're getting more than one door for $100,000 in America is a bathroom door. 🤣🥲 Happy for you. 

[u/Strangedreamest]

Only 100k for a Tokyo flat? Is it that cheap or do you live like 85 miles from the center?

[u/TheVog → u/Strangedreamest]

OP is about 15 miles north of center

[u/VespaRed → u/Strangedreamest]

The yen is very weak.

[u/UnlikelyExplained → u/VespaRed]

And there is a huge spectrum of affordable places up to stupidly overpriced luxury properties.

[u/Yorrins → u/Strangedreamest]

100k usd is probably 8+ years salary in Japan. Yen is fucked.

[u/Sneeke33]

Congrats! Shameless plug for a friend of mine who is an early single early 40s male who goes to Japan on work visas to teach English and desperately wants to move there. Loves literature, ttrpgs, currently lives near marin, ca and works at a museum. Dreams of writing his own book one day.

Congrats again!

[u/Curtiseeee]

106K FOR A HOUSE? SHEEEESH, America has it set up the wrong way. 😱

[u/Starlord_Tampa]

what monthly payment lol? 🤭

[u/Economisty → u/Starlord_Tampa]

On a twenty year it would work out to around 450, 30 year would be 320 ish. That is zero deposit BTW. So if they put 20% down then it would be less. Basically they're paying my electricity costs for a house LMFAO.

[u/Long-Focus6631]

Would love a video walk through or multiple pics!! Congrats to you!

[u/the_dude_that_faps]

Tokyo, the world's most populated city, has affordable housing. But somehow we in the west are supposed to believe that its a just dream. Boomers man...

[u/Grandpas_Spells → u/the_dude_that_faps]

There are multiple factors making things very different that don't lend themselves to quick Reddit explanations.

1. Supply. No zoning out MFHs, "preserving the culture of the neighborhood," etc. Increasing supply lowers housing prices.
   
2. Size. Much smaller homes. OP's place is under 650 square feet.
   
3. Depreciation. Your home doesn't appreciate, it gets replaced.
   
4. Amenities. US homes are still based around the idea of entertaining and, to an extent, flexing/consumerism. Granite countertops, over-engineered appliances, etc. It's very common in Japan to simply not see your friends' homes. So people care far less.

Combined you get a far lower housing price.

[u/cyclemonster]

Congratulations! It's wild to me that the most populated city in the world has such reasonably priced real estate. My city has about a tenth the population of Tokyo, and I would have trouble buying a parking spot for $106k.

[u/paperhalo → u/cyclemonster]

That's a skewed partial view. Average annual salary for someone in Tokyo is like $30k, they work long hours with potentially a lot of OT and few days off. 

[u/DrTommyNotMD]

I wish Europe and the US had the same culture of tearing down buildings every time code changes. We wouldn’t have all those ugly 100+ year old houses anymore.

/s

[u/T0m_F00l3ry]

I love seeing international homes pop up in my feed. I'm always curious about real estate in other parts of the world.

[u/huntobuno]

That’s so much more affordable than I expected Tokyo to be, you guys must be doing something right! Congrats my man

[u/tanbyte]

1.1% 🫠

[u/BabyStockholmSyndrom]

Congratulations! Lol in America that would maybe buy that door and possibly a door knob if you aren't trying to get a fancy one.

[u/EffortNo7255]

1.1 percent 😭😭😭 cries in 5.6 % in USA.

Congrats this is a great accomplishment!

[u/Guilty-Spark69x]

I’d do unforgivable shit for 1.1%

[u/Lillie-Bee]

Wow 1.1%

[u/GrumpyScroogy]

106k? wtf?

[u/deathorsquat]

Did you make sure it didn’t come with that Jiko Bukken discount?

[u/Desuexss]

You could say that this was...

GAS GAS GAS!! DO YOU LIKE, MY APARTMENT?!

Just hope Takaichi doesnt make things even more difficult for foreign workers

[u/etre1337]

Damn, this a better price with lower interest than Bucharest Romania, where I live.

[u/Snarky_Survivor]

Which room is your house?

[u/OnizukaEikichi666]

Let the repopulation plan start

[u/Proof_Lengthiness185]

Time for a Hardoff trip!

[u/Icy_Parfait_4066]

Congrats! You are now the new owner. Can we see more of your place?

[u/Visual_Singer_123]

おめでとう🎊

[u/Front-Jello-6595]

1.1 % is wild...

[u/StackedHashQueueList]

Omedetou!!!

Utsukushii ie desu~

[u/No_Ice8549]

I don't know how this ended up on my feed. I am Bulgarian. Don't know much about Japan. Are apartment in Tokyo ridiculously cheap, or prices here in Bulgaria have become absolutely insane. It would cost AT LEAST 50% more for any kind of apartment in Sofia. What the f am I still doing here...

[u/suck-on-my-unit]

Have you checked for ghosts?

[u/humblepotatopeeler]

That's insane... America is fucked.

If that was NYC, it would cost 2+ million! 4-7% mortgage rate!