Japanese real estate for foreigners — from a Tokyo-based insider
STRATEGY & YIELD
The numbers — yields, IRR, short-term rental, and the macro behind them.
STRATEGY & YIELD
That 8% gross yield on Japanese listing sites hides costs that cut returns in half. Here's every deduction, line by line, from gross to net yield in Japan.
STRATEGY & YIELD
Japanese listing sites quote gross yield (hyomen rimawari) — a figure that excludes vacancy, taxes, and fees.
STRATEGY & YIELD
A full line-by-line breakdown of every cost that reduces your gross rental yield to net in Tokyo — from acquisition tax to property management, repair…
STRATEGY & YIELD
Cap rate is the standard commercial real estate metric everywhere except Japan, where agents quote gross yield instead.
STRATEGY & YIELD
How to calculate IRR on a Tokyo apartment: a full 10-year worked example, cash-on-cash return once you add a loan, and a reality check on the average 23-ward resale condo using August 2026 REINS and Tokyo Kantei data.
STRATEGY & YIELD
Japan's minpaku law caps short-term rentals at 180 nights a year. How cities and wards cut it further, when a ryokan license or tokku zone wins, and JTA data on Tokyo's 16,920 active minpaku.
STRATEGY & YIELD
What does a Tokyo minpaku actually net after OTA commissions, cleaning, management, and utilities?
STRATEGY & YIELD
Directional ADR ranges for Tokyo minpaku by ward, how RevPAR and NetPAR work under the 180-night cap, how to set ADR backwards from a RevPAR target, and official supply counts per ward.
STRATEGY & YIELD
A Tokyo-based insider compares glossy tower mansions against older mid-rise mansions for foreign buyers, covering earthquake code, yield, repair funds, and resale.
STRATEGY & YIELD
A Tokyo-based insider explains kanrihi and shuzenhi, how to read the repair reserve and long-term plan, and how these monthly costs quietly eat your net yield.
STRATEGY & YIELD
A Tokyo-based insider explains how a foreign buyer should weigh a detached house (kodate) against a mansion apartment on control, depreciation, resale, and remote upkeep.
STRATEGY & YIELD
A Tokyo-based insider explains how foreign buyers should think about JPY currency risk: the weak yen as opportunity and risk, natural hedges, conversion timing, and FX traps.
STRATEGY & YIELD
A Tokyo-based insider explains how to underwrite vacancy and tenant default risk in Tokyo rentals, with realistic occupancy by ward, turnover cost, and stress tests.
Before you go
The financing, taxes, and step-by-step process — the parts the listings never explain. Free, from a Tokyo-based insider.
No spam. Unsubscribe anytime.
Check your inbox — and grab it right now:
↓ Download The Foreigner's Guide to Buying Property in Japan (PDF)