While Tokyo remains a popular tourist destination, it is increasingly losing its appeal to potential foreign investors. Tokyo ranked among the bottom 10 cities for expats to live in 2022 due to several serious factors. Tokyo's wealthiest districts, where properties can reach £10 million, are failing to impress expats who seek a desirable lifestyle. High taxes, visa complexities, and difficulties in forming local friendships also play a role in wealthy individuals leaving Tokyo.
While Tokyo remains a popular tourist destination, it is increasingly losing its appeal among wealthy foreign residents and investors. According to Expat Insider's survey, Tokyo ranked among the bottom 10 cities for expats to live in 2022 due to factors such as its demanding work culture, unfriendliness, and language barrier. In contrast, the ultra-wealthy are choosing Singapore over Tokyo, despite the latter's allure, including its abundant Michelin-starred restaurants. The shift highlights Tokyo's challenges in attracting and retaining affluent individuals and investors compared to other global cities.
Tokyo's road widening policy has had negative consequences, transforming Kagurazaka, the city's French expat quarter, into an unattractive eyesore. Even the affluent residents of Tokyo's exclusive neighbourhoods, like Azabu, are unable to prevent unwanted intrusions, such as low-flying planes due to changed flight regulations. Tokyo's shortage of green space and poor urban landscaping further tarnish its image.
The lack of spacious and well-designed housing at the top end of the market poses a challenge for wealthy foreigners interested in living in Tokyo. In addition, the absence of adequate cycle lanes and the presence of unsightly power lines deter environmentally conscious individuals. The city's governor has acknowledged these issues, but progress in addressing them remains slow.
Tokyo's wealthiest districts, where properties can reach £10 million, are failing to impress expats who seek a desirable lifestyle. The city is experiencing a loss of investment and affluent talent to destinations like Singapore. Expats, such as financier Hao Wang, who spent a decade in Tokyo before relocating, are not surprised by this trend. High taxes, a complex visa system, limited English proficiency, and difficulties in forming local friendships contribute to the exodus of the well-to-do from Tokyo.
Advertisement
Facebook
Whatsapp
