Investors are moving firmly towards the Yokohama property market as Tokyo has gone increasingly expensive over the years.
In fact, Yokohama is an overlooked city that is getting more and more appreciated, not only by locals, but also foreigners.
With an increasing population, the demand will also stay relatively high, compared to many other cities in Japan.
In this article, I explain the essentials when buying property in Yokohama.
Yokohama property market
Yokohama is the second largest city in Japan in terms of population, but most populous in terms of density.
The city has become a popular destination for foreigners, in fact, the foreign population has increased to a record number of 8%, and is still growing.
Yokohama is unique for one reason: while its population has increased the past decades, the population in Japan is shrinking.
Even in the 1950’s, Yokohama was the 4th most populous city in Japan, but temporarily climbed to a 1st position in 1985.
So: as the population increases, demand increases. Hong Kongers are some of the foreigners who now turn to Yokohama as property gets too expensive back home.