According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,528 Yen/sqm in February, down 1.5% from the previous month and down 3.7% from last year. The share of rental listings in the Tokyo metropolitan area dropped by 6 points from the previous month, which may have contributed to the lower rent. The average apartment size was 59.98 sqm and the average building age was 19.9 years.
In the Tokyo metropolitan area, the average rent was 3,161 Yen/sqm, up 1.1% from the previous month and up 3.0% from last year. The average apartment size was 56.33 sqm and the average building age was 17.7 years.
In Tokyo’s 23 wards, the average rent was 3,309 Yen/sqm, up 0.9% from the previous month and up 3.4% from last year. The average apartment size was 55.75 sqm and the average building age was 17.2 years.
Average monthly rent per sqm in February 2016:
|Tokyo 23 wards||3,309 Yen (+0.9% from Jan. 2016; +3.4% from Feb. 2015)|
|Yokohama City||2,172 Yen (+1.4%; +3.1%)|
|Saitama City||1,705 Yen (-2.4%; -3.0%)|
|Chiba City||1,476 Yen (+0.7%; +0.7%)|
|Osaka City||2,206 Yen (+3.8%; +2.8%)|
|Kobe City||1,879 Yen (+3.5%; +6.7%)|
|Nagoya City||1,707 Yen (+0.4%; +0.9%)|
*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, March 17, 2016.
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