Residential yields in Minato-ku – May 2016

Tokyo Apartment Yield May2016

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.

Tokyo Apartment Land Price May2016

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
  • Repairs
  • Taxes

Source: Homes (Data obtained May 7, 2016).

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