Real Estate in Yokohama, Japan
Last updated on Oct 17, 2024
Summary: Expats and retirees talk about real estate in Yokohama, Japan? How do you find a home in Yokohama? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Yokohama?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Yokohama, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a shared apartment to a private house. Next, you should identify the area in Yokohama where you want to live. Yokohama is a large city with many different neighborhoods, each with its own unique character. Some popular areas include Minato Mirai, Chinatown, and Yamashita Park. Once you've identified your preferred area, you can start searching for available properties. There are several online real estate portals that list properties for rent in Yokohama, such as Suumo, Homes, and Athome. These websites allow you to filter properties based on location, price, size, and other criteria. You can also visit real estate agencies in Yokohama. These agencies have English-speaking staff who can help you find a suitable property. Some well-known agencies include Ken Corporation, Plaza Homes, and Hikari Home. When you find a property you're interested in, you'll need to contact the landlord or real estate agent to arrange a viewing. If you decide to rent the property, you'll need to sign a lease agreement and pay a deposit. This usually includes a security deposit, key money, and the first month's rent. Finally, before moving in, you'll need to set up utilities such as electricity, gas, and internet. This can usually be done by contacting the relevant companies and arranging for the services to be connected. Remember, renting a property in Japan can be a complex process with many unique aspects, such as the requirement for a guarantor. Therefore, it's a good idea to seek advice from a local or someone who is familiar with the process," remarked one foreigner who made the move to Yokohama.
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What is a typical expat home or apartment like in Yokohama?
"A typical expat home or apartment in Yokohama, is often located in one of the city's international neighborhoods, such as Minato Mirai, Yokohama Station area, or Motomachi. These areas are known for their high concentration of foreign residents and amenities catering to international tastes. The apartments themselves are usually modern and well-maintained, with a variety of sizes available, from compact studio apartments to larger family-sized units. They often come fully furnished, with contemporary furniture and appliances, including a washing machine, refrigerator, and sometimes even a dishwasher. The living area is typically open plan, with a combined living and dining space. The kitchen is usually compact but functional, often separated from the living area by a counter or half-wall. Bedrooms are typically smaller than what one might be used to in Western countries, but they are designed to maximize space with built-in storage solutions. Many apartments also come with a small balcony, which can be used for drying clothes or simply enjoying the view. Some of the higher-end apartments may even have access to shared amenities like a gym, pool, or rooftop terrace. Despite being in a bustling city, Japanese homes are designed to be tranquil and peaceful, with an emphasis on natural light and minimalistic design. Many expats appreciate the convenience of city living combined with the comfort and serenity of their Yokohama homes. In terms of location, these apartments are often conveniently situated close to public transportation, shopping centers, international schools, and parks. This makes it easy for expats to navigate the city, run errands, and enjoy their leisure time. Overall, a typical expat home in Yokohama offers a comfortable and convenient living environment, blending elements of Japanese design with the needs and comforts of international residents," explained one expat living in Yokohama, Japan.
What is the average cost of housing in Yokohama?
If you are thinking about moving to Yokohama, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Yokohama can vary greatly depending on the location and size of the property. For a single bedroom apartment in the city center, the monthly rent can be quite high, while outside the city center, it can be significantly lower. If you're looking to buy property, the price per square meter can also be quite steep in the city center. However, these prices can fluctuate based on market conditions and other factors," said one expat who made the move to Yokohama.
Should I buy or rent a home in Yokohama?
If you have not spent a lot of time in Yokohama, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Yokohama, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Yokohama for a long period, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide a sense of stability and permanence. However, buying a home also comes with significant upfront costs, including a down payment, closing costs, and property taxes. It also requires a long-term financial commitment and may limit your flexibility to move. If you're not sure about your long-term plans or if you prefer not to deal with maintenance and other responsibilities that come with homeownership, renting might be a better option for you. Renting a home in Yokohama can offer more flexibility, especially if you're not sure how long you'll be staying. It's also typically less of a financial burden upfront, as you won't need to come up with a large sum of money for a down payment. Plus, you won't have to worry about maintenance costs or property taxes, as these are usually the landlord's responsibility. However, renting doesn't allow you to build equity, and you may face annual rent increases. You also have less control over your living space, as you'll need the landlord's permission to make any significant changes. In conclusion, whether you should buy or rent a home in Yokohama depends on your financial situation, long-term plans, and personal preferences. It's important to weigh the pros and cons of each option and consider seeking advice from a financial advisor or real estate professional," explained one expat living in Yokohama, Japan.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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