Tokyo and Japan's other cities are among the most expensive in the world for rental property prices. The range of prices for apartments currently listed on one real estate site for Tokyo is between JPY200,000 per month (US$1,800) and JPY2,800,000 (US$25,200) per month.

It can be quite difficult for expatriates to find suitable property to rent in Japan. Japanese landlords are reportedly often reluctant to rent to foreign nationals, due to communications difficulties and the fear that the tenants will break the terms of the contract by leaving early.

Traditional tenancies are not ideally suited to the requirements of expatriates, as the agreements are usually for a minimum of two years and properties typically come unfurnished. Moreover, the up-front costs are very high, often amounting to the equivalent of up to ten months rent. Foreign tenants may be asked to arrange for a Japanese national with good financial backing to co-sign the tenancy contract as a guarantor.

If you rent a property through a conventional real estate agent, the upfront fees are likely to include:

- a refundable reservation fee of one month's rent
- a refundable deposit equivalent to several months' rent to cover the cost of any damage to the apartment
- a non refundable 'key money' payment to the landlord of several months' rent
- a service fee payable to the real estate agent, typically equalling one month's rent