The cost of living in Tokyo has become a significant concern as Japan's wages remain low compared to other developed countries, and the recent depreciation of the yen exacerbates the situation for overseas talent. The median price of a new condo in Tokyo has increased to 9.7 times the average household income, up from 7.3 times in 2013, according to the NLI. Despite the perception that living in Tokyo is cheaper than in cities like London or Hong Kong, the reality is that $800 per month for a tiny studio apartment in central Tokyo is considered high, especially given the small sizes of the dwellings. Japanese wages and salaries are comparable to those in Italy, and the country has experienced minimal inflation over the past decade. Living on 3 million yen, or less than $20,000 a year, in Tokyo is challenging.
$800 for a tiny studio apartment in central Tokyo is not "cheap." Japanese wages and salaries are close to Italian ones, the country has had minimal inflation over the past decade, and the yen is extremely weak. Americans are just so conditioned to truly outrageous rental costs…
$800 for a tiny studio apartment in central Tokyo is not "cheap." Japanese wages and salaries are close to Italian ones, the country has had minimal inflation over the past decade, and the yen is extremely weak. Americans are just so conditioned to truly outrageous rental…
It’s more useful to look at that as a percentage of salary in Tokyo. Seeing it that way suggests $800 is actually high (also note the small sizes of dwellings). Still, a reasonable price. https://t.co/kzmS8HrI9p
Genuinely wild that you can live in the very center of Tokyo for $800/month. https://t.co/jEkeoTmMqe
Still cheaper than London, HK, etc. But this is interesting: Prices may become more of a barrier for buyers if they continue to rise. The median price of a new condo in Tokyo was 9.7 times the average household income in the city last year, up from 7.3 times in 2013, the NLI…
What kind of salary do you need to live in Tokyo? Japan's wages have traditionally been low compared with other developed countries. But with the recent depreciation of the yen, things are looking even worse for overseas talent. https://t.co/SdnPHFKbkY https://t.co/pfXeHFb0FK
Can you live on 3 million yen — less than $20,000 — a year in Tokyo? Japan's wages have traditionally been low compared with other developed countries. With the recent depreciation of the yen, things are looking even worse for overseas talent. https://t.co/zFVS2WDKBo