According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.2% in May 2016, down 0.1 points from the previous month and down 0.5 points from last year. The average yield across Tokyo was 6.3%, up 0.3 points from the previous month but down 0.3 points from last year.
The average asking price for a second-hand apartment in Minato-ku was 971,614 Yen/sqm as of May 1, up 0.2% from the previous month and up 11.7% from last year. The average asking price for land was 1,375,151 Yen/sqm, up 0.9% from the previous month and up 13.5% from last year.
Building age and gross yield (yield after deducting monthly building fees):
- 1-14 yrs old: 4.58% (4.05%)
- 15-29 yrs old: 5.26% (4.62%)
- 30+ yrs old: 5.97% (4.89%)
Apartments less than 10 years old had an average gross yield of 4.19% (3.82% after deducting building fees).
Average advertised monthly rent for an apartment less than 10 minutes walk from the nearest train station:
- Studio: 133,100 Yen
- 1-Bedroom: 214,000 Yen
- 2-Bedroom: 286,500 Yen
- 3-Bedroom: 336,600 Yen
About the Data:
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
Source: Homes (Data obtained May 7, 2016).
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