Residential yields in Minato-ku – July 2015

Tokyo apartment yield july 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in July was 4.7%, showing no change from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.5%, down 0.2 points from the previous month and down 0.6 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 857,785 Yen/sqm as of July 1, 2015, up 85 Yen from the previous month and up 9.1% from last year. The average asking price for land was 1,226,363 Yen/sqm, up 1.1% from the previous month but down 1.9% from last year.

Tokyo apartment land price july 2015

Building age and gross yield (yield after deducting monthly building fees):

  • 1-14 yrs old: 4.72% (4.22%)
  • 15-29 yrs old: 5.36% (4.56%)
  • 30+ yrs old: 5.53% (4.49%)

Apartments less than 10 years old had an average gross yield of 4.29% (3.84% after deducting building fees).

Average advertised monthly rent for an apartment less than 10 minutes walk from the nearest train station:

  • Studio: 132,600 Yen (+2,300 Yen from last month)
  • 1-Bedroom: 215,600 Yen (+900 Yen)
  • 2-Bedroom: 299,300 Yen (+2,600 Yen)
  • 3-Bedroom: 348,300 Yen (+27,400 Yen)

Apartments within a 10 minute walk from a train station rent for around 15 ~ 20% higher than apartments that are more than 10 minute from the nearest train station.

Notes:

The published yields are based on listings advertised on the Homes site. These listings are mainly investment-type properties, such as small tenanted studios, which typically have a higher yield than larger 2 or 3 bedroom family-type apartments.

The calculations do not include:

  • Rental management fees
  • Annual fixed asset taxes
  • Purchase fees
  • Repairs
  • Taxes

Source: Homes (Data obtained July 7, 2015).