Buying Property in Tokyo with USD 1 Million
Market Data shows a trend on the pricing of properties. But what can you actually buy? Find out what kind of property you can buy with USD 1,000,000 in Tokyo. This time, the article features prime locations – West Shinjuku and quiet embassy district of Azabu.
Related: See what you can buy in Bayfront Tokyo for USD 500,000
1. City Tower Shinjuku Shin-Toshin (West Shinjuku): USD 1,016,000 / JPY 12,180,000.
89.50 SQM+15.55 SQM balcony / 1 bedroom / 32F (37F) / Built in 2005
EXPECTED ANNUAL GROSS YIELD: 3.94%
City Tower Shinjuku Shin-Toshin was built in 2005 and upon its launch, it was recognized as the tallest condominium in Shinjuku with 130.6m. 292 unit complex is located behind (10 minutes walk) the Tokyo Metropolitan Government Building and hotels – Hiltion Tokyo, Hyatt Regency Tokyo and Park Hyatt Tokyo. It was developed by Sumitomo Realty and Development.
As of March 2015, the same sized unit on the 32nd floor rents out for USD 3,340 / JPY 400,000.
Monthly management fee: USD 190 / JPY 22,700
Monthly reserve fund for building repair: USD 110 / JPY 13,240
Related: What Property You Can Buy in Tokyo with USD100,000
2. Azabudai Park House: USD 1,040,000 / JPY 125,000,000
99.25 SQM+14.31 SQM balcony / 2 bedroom / 8F (16F) / Built in 2011
EXPECTED ANNUAL GROSS YIELD: 5.2%
Azabudai Park House is situated in the middle of Azabu/Roppongi’s embassy district – known for its posh and quiet neighborhood. Tokyo American Club and Russian Embassy is located right next to the condominium. Yet, hustle and bustle Roppongi Crossing is only 5 minutes away – an ideal location for people who enjoys convenience and tranquility.
As of March 2015, the same sized unit on the 10th floor rents out for USD 4,550 / JPY 545,000.
Monthly management fee: USD 290 / JPY 34,755
Monthly reserve fund for building repair: USD 102 / JPY 12,240
Exchange rate: As of March 24, 2015.
Related: What property You Can Buy in Tokyo with USD500,000
Photo: Google Map