Should I rent an apartment or purchase one if I live in Tokyo?
- Japanese real estate expertise
Where do you all live and read this article now?
New York, Taiwan, Hong Kong, Singapore, Paris or Tokyo...
In recent years, an increasing number of foreigners are choosing Tokyo as their place of employment or study.
Is it better to rent an apartment as a residence in Tokyo? Or is it better to purchase?
This time, I would like to look at the advantages of both sides.
Advantages of purchasing an apartment
① Remain as an asset
At the beginning of purchase, you can use it as a home for work or study, and when you leave Tokyo to go back to your country, you can rent or sell it to get cash.
② Housing costs tend to be lighter
For properties with similar conditions such as location and floor plan, those who purchase the property tend to have less burden of housing expenses (rent/cost + management fee, etc.).
③ Mortgage deductions may be applicable
This condition applies to Japanese and foreigners who work in Japan and are financed by Japanese financial institutions to purchase apartments. By applying for a special deduction for housing loans (deduction for mortgage) at the time of filing a tax return, the tax may be deducted from the amount of income tax and the tax may be returned.
☞National Tax Agency site in Japanese
☞National Tax Agency site in English
Advantages of renting an apartment
① Easy to move
You can easily move (relocate) to the next property.
② No cost of owning an apartment
No taxes or other costs are incurred when holding an apartment as an asset.
"Purchasing an apartment is better", of course!
Even if you do not plan to permanently live in Japan in the future, why not buy an apartment as an "investment'' that will lead to the future from the perspective of becoming your own property in the future rather than just continuing to pay money for rental apartments?
CLEARTH LIFE mainly sells with 1K and 1LDK type apartments that are handy for investment and self-use.
For those who are unable to come to Japan due to the new measures against the novel coronavirus (COVID-19), and those who are avoiding going out as much as possible, you can also consult on the Web using tools such as Zoom, WhatsApp and LINE.
CLEARTH RENT, a leasing management company of the CLEARTH LIFE Group, will also listen to your requests and introduce rental apartments.
Please tell us your preferences about apartment purchasing or renting in Tokyo.
Our staff who can consult not only in Japanese but English and Chinese will answer you.
Looking forward to hearing from you!
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