If you don't have to own your own residence though, why not invest the money in a profitable investment elsewhere and rent in Japan?

That others are to deliver success and profit to you with a bow on it. 

Petersburg area, resulting in highly–profitable investments.If you need professional and courteous property management experts for your multifamily, single family, condominiums or town home, you've found the right company!

Maybe that is gross profit when you sell it, but what about the cost to build it?  

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

After holding a property for more than 10 years, investors can sell the property without having to pay capital gains tax on the profits, making it a favorable environment for long-term investors.Investment Strategies for American Investors in Germany1.

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

Although there is potential profit in this kind of profit, there is also more risk associated as the repair costs can pile up quickly and create a scenario where you have invested more into the property than the repaired property would actually be worth. 

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.