Tokyo real estate
 

Really interesting and informative to read here. Because maybe I'm planning a trip to Japan: Is it expensive in general, I mean in terms of consumer prices? Let's say compared to the U.S.? Due to these statistics on cost of living, Tokio and Osaka Kobe are the most expensive cities on this planet...

It depends. Living in Japan can be very expensive - especially when it comes to things like real estate in Tokyo. OTOH - many tourist prices are more than reasonable. For example - a luxury hotel room in Tokyo will be costing me less than half of what a similar room would cost in New York - Paris or London. Luxury restaurants are also less expensive than those in New York - Paris or London. And - of course - in a city like Tokyo - there are tens of thousands of less expensive/inexpensive restaurants to choose from.

I find tourist attraction prices - like those for museums - on the low side. They're not free for the most part (like some in some countries) - but they're not high like those in a city like Stockholm. Transportation costs are about average for a major metro area IMO.

Overall - I think it's possible to plan a reasonably priced trip in many budget categories (except perhaps the lowest backpacking student kind of budget - don't know about that - I haven't been a student for decades :D). Robyn

i don't quite agree with you on the restaurant point. i think it depends on what you call luxury?

costs of 3* places in NYC and Tokyo are generally in the same ballpark...

its pretty easy to compare them by just going ot the michelin guide which sets in all out....check out per se and le bernadin and compare them to a few in Tokyo...[what you might find is they are lower...]

that said, L'Arpège and say The Fat Duck are a wee bit higher than what you get in Japan but the comperables in japan can run you 60000 per person for some of the 3* places...

honestly, it depends but depending on what you define as luxury, i would disagree that they are cheaper. at best, the same.

What kind of prices are we looking at per sqm in decent areas for an apartment?

As for hotels, they are more or less similar - yes - but one thing I've noticed is that the price difference between 3-*** and 5-***** is MUCH smaller than in other countries. In Singapore for instance you're looking at something like 2.5-3X more, whereas in Tokyo it's more like 1.5-2X the price.

Can't say as I've never been to Calgary, but public transport in Vancouver is very expensive. I cannot remember the exact prices, but taking the subway there seemed like 3-5 times the cost of a ride in Tokyo.

Pretty much everything is more expensive in Vancouver........the price for a 2 section ride is $4.00 CAD :eek: ! But Vancouver is the BPOE ;) !

You can browse around some Tokyo real estate websites and see for yourself. Of course - prices vary depending on neighborhood. They seem to me to be about as expensive or more expensive than in Manhattan. Whatever - both places are a heck of a lot more expensive than where I live. And the way I live - about 3000 sf for 2 people - is pretty much unimaginable for most average or even above people in places like that. We met a son of a friend and his wife who live in Tokyo. They (and their child) lived at the end of a subway line (not center city) - and thought themselves lucky to find a 700 sf apartment they could afford (even though they were both working professionals). Robyn

P.S. I don't think I've been in a 3 star property for quite a while - and the only place I've stayed in Tokyo is the Four Seasons. So I don't know about price compression at various hotel levels. But - since you mention it - people should really explore their options. Lots of hotels in Tokyo have various discounts/benefits if you book certain ways/etc. I do know that the cheapest room in the Four Seasons Tokyo today is < 40,000 yen if booked 21 days in advance. And - if you book through a Four Seasons Preferred Partner (and perhaps a Virtuoso) agent - you'll get free breakfast - free internet - a 1 category room upgrade if available - and some amenity like a $100 dining credit. So it really pays to shop around IMO.

This website gives you the data

http://www.akasakarealestate.com/mai...marketdata.htm

I lived in a 200 SQM house in the best neighborhood and arguably location, which was a hell of a lot less expensive than Manhattan.

Shoto?

Yes. And I know you think it's the boonies. :D
But it's like living half a mile from Times Square in a single family house.

FTFY

But yeah, SF/NYC rents have tripled while Tokyo rents haven't changed much. If you're moving from either of those two cities and can keep your salary, you'll have a lot to choose from. Only a select few neighborhoods have rent on par to circa 2010 Manhattan.

Shibuya like Union Sq. Come on? Not that I think highly of Times Sq.

Well, rents dropped as much as 40% from 2007-8 to 2010-11 when we moved there. In yen terms they might be trying to increase the price significantly if they cater to expats. I think our place went on the market for 50% more than what we paid. But in USD terms the asking price is maybe 10% more.

Our place had been empty ~7 months when we moved in and they had dropped the asking price 25%. We asked for some upgrades rather than further discount. I saw a beautiful place in Uehara that was brand new as of Feb 09. Never occupied as of Dec 10.

:) Except there is no market data here only suppositions as contracts are subject to confidentiality. This is pure guesswork by people trying to look more professional than they are.

Shoto is arguably the most prime real estate in Tokyo.

Ummm......Really? Tokyo Rents have moved up and down quite a bit, currently up and rising. For rent to triple it has to have been pretty low to start with and Tokyo has never been that low. Another way to look at it might be other Global Cities are aligning with Tokyo on prices maybe? Although I rather doubt it. :)

You can read my mind too. ;)