A real estate agent is currently renting out a home in a Tokyo suburb, and he doesn’t mind paying a bit more than what the average Japanese is paying.
“We’re doing about ¥500,000 ($738),” says Yuki Yamaguchi, who manages the property at the property management company he founded.
“That’s the rent for the year, including utilities and insurance.
That’s a little more than the rent I paid in New York last year.”
Yamaguchi says he plans to take advantage of the lower price and is looking forward to selling his house in the coming months.
“I’m planning to sell my house in August and move into an apartment in Osaka.
I’m thinking about buying a house in Tokyo and moving there.”
The median price of a Japanese apartment is ¥734,000, according to real estate agency NISK.
That includes all of the utilities, parking and other expenses.
According to the NISKA, Japan’s rent is among the highest in the world.
Yamaga says he wants to use his rental income to fund a better education and career for his family.
He wants to be able to buy a house of his own.
But what about rent for Japan’s older residents?
Yamaguchis parents have retired from their jobs and the family has a few small children to care for.
“We want to have more children, but there’s no money for it,” he says.
Yamagi says he doesn,t want to take the risk of paying more than ¥500 per month for a home, especially since there is no such thing as a free lunch in Japan.