Looking to spend 500k usd on property in Japan, how would you do it?

Hi everyone,

I'm just looking to get some good advice from people who are familiar with the property market, and have actually invested in it. I know there are a million questions on this topic on this sub but most of them are unserious or lacking in details.

I am actually planning on buying within the year (2026) and I've done quite a bit of research up to this point (energy efficiency changes, earth quake standards, management fees, yields, etc). On Friday I will be meeting with realtors online and I'll be in Japan in December to look at some properties before I make a decision in the new year.

I am planning on spending around 60M Yen to start. Potentially get a decent enough property in the 45-50M yen range and a secondary one in the 15M yen range. My main goal is exit liquidity, with yield as a secondary. My logic in buying 2 is simply that I want to experiment with the cheaper one and learn what the ownership process is like with minimal stakes. I will be happy with 3% net. If the initial 60M Yen goes well I will look to build a small portfolio. This is more for fun for me than to make money, but I would of course not like to lose it.

My preference is in Tokyo, but I am open to Osaka or Fukuoka. I have a number of childhood friends in Japan but I am not Japanese, am not very proficient in the language, and currently have no plans to live there full time.

For those of you who invest here: how realistic is liquidity for condos in good neighborhoods (at least with my budget)? Are the higher yields in places outside central Tokyo just a trap once you factor in weaker resale demand? If there's anything you think I might now know I'd love to learn from you. Thanks.

Edit – not interested in airbnb