Tokyo apartment rents slide for second month

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,624 Yen/sqm in November, down 2.1% from the previous month but up 2.5% from last year. The average apartment size was 59.76 sqm and the average building age was 19.6 years.

In the Tokyo metropolitan area, the average rent was 3,157 Yen/sqm, down 0.8% from the previous month but up 3.1% from last year. The average apartment size was 56.99 sqm and the average building age was 18.0 years.

In Tokyo’s 23 wards, the average rent was 3,306 Yen/sqm, down 0.3% from the previous month but up 3.3% from last year. The average apartment size was 56.26 sqm and the average building age was 17.5 years.

Average monthly rent per sqm in November 2015:

Tokyo 23-ku3,306 Yen (-0.3% from Oct. 2015; +3.3% from Nov. 2014)
Yokohama City2,132 Yen (-1.6%; +0.5%)
Saitama City1,730 Yen (-0.8%; -2.1%)
Chiba City1,473 Yen (+0.7%; +1.5%)
Osaka City2,067 Yen (+0.6%; -2.0%)
Kobe City1,783 Yen (+1.5%; -0.4%)
Nagoya City1,681 Yen (+1.1%; +2.8%)

*Data is based on the average advertised rent of family-type condominiums which may be higher than actual rent after negotiations. It does not include apartments less than 30 sqm in size, commercial or retail spaces.

Source: Tokyo Kantei, November 17, 2015.

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