According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,552 Yen/sqm, in November, up 0.8% from the previous month and up 3.4% from last year. The average apartment size was 58.87 sqm (633 sqft) and the average building age was 19.0 years.
In Tokyo’s 23-ku, the average monthly rent was 3,111 Yen/sqm, up 1.0% from the previous month and up 4.2% from last year. This is the highest it has been since February 2011. The average apartment size was 55.70 sqm (599 sqft) and the average building age was 17.6 years.
Average monthly rent per sqm:
- Tokyo 23-ku: 3,111 Yen (+1.0% from the previous month; +4.2% from last year)
- Yokohama City: 2,139 Yen (-0.6%; -0.3%)
- Saitama City: 1,817 Yen (-0.3%; +3.3%)
- Chiba City: 1,499 Yen (-1.8%; +0.7%)
- Osaka City: 2,182 Yen (+0.1%; +12.4%)
- Kobe City: 1,829 Yen (+0.9%; +6.2%)
- Nagoya City: 1,629 Yen (+1.1%; +1.6%)
*Data is based on the average advertised rent of family-type condominiums which may be higher than the rent after negotiations. It does not include apartments less than 30 sqm in size, commercial or retail spaces.
Source: Tokyo Kantei, December 11, 2013.