Buying a Condo in Tokyo? Save-up!
Posted by Jim Ivanoff
May 12th, 2009
A new survey by Tokyo Kantei Co., a real estate research firm, shows that condos in Tokyo cost a whopping 9.11 times the average annual salary. In comparison, the national average in Japan is only 6.02.
After doing a quick search on the internet, I found a news article citing CMHC stats that show that in Vancouver, Canada's least affordable city, the number is only 6.6 and this is for homes not just condos.
How can Tokyoites afford such prices? Save and then save some more!