Average apartment rent in January 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,681 Yen/sqm in January 2017, down 1.4% from the previous month but up 4.4% from last year. The average apartment size was 60.24 sqm and the average building age was 20.3 years.

In the Tokyo metropolitan area, the average monthly rent was 3,186 Yen/sqm, down 0.4% from the previous month but up 1.9% from last year. The average apartment size was 58.03 sqm and the average building age was 18.4 years.

In Tokyo’s 23 wards, the average monthly rent was 3,330 Yen/sqm, down 0.7% from the previous month but up 1.5% from last year. This was the first time in 3 months to see a decrease, although prices have remained fairly constant around the 3,300 Yen/sqm range since August 2016. The average apartment size was 57.65 sqm and the average building age was 17.8 years.

Average monthly rent per sqm in January 2017:

Tokyo 23 wards3,330 Yen (-0.7% from Dec. 2016; +1.5% from Jan. 2016)
Yokohama City2,162 Yen (+2.4%; +0.9%)
Saitama City1,831 Yen (+2.5%; +4.8%)
Chiba City1,482 Yen (+1.5%; +1.1%)
Osaka City2,282 Yen (+0.1%; +7.4%)
Kobe City1,769 Yen (-1.9%; -2.6%)
Nagoya City1,674 Yen (-0.3%; -1.6%)

 

*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, February 14, 2017.

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