Japan’s market treats new and pre-owned property very differently from Western norms. Understanding the gap is essential before you choose.

The core trade-off

• New build: a price premium and 10% consumption tax on the building, but modern seismic standards and lower early maintenance.
• Pre-owned: better entry yields and no building consumption tax, but check the construction year and reserve fund.

For income, well-maintained pre-owned condos from the 2000s onward often hit the sweet spot of price and yield. For low-hassle, buy-and-hold ownership from overseas, a newer unit can justify its premium. Match the choice to your goal, not the marketing.