According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in June 2017 was 2,619 Yen/sqm, down 0.5% from the previous month but up 0.5% from last year. The average apartment size was 59.62 sqm and the average building age was 20.4 years.
In the Tokyo metropolitan area the average monthly rent was 3,128 Yen/sqm, down 0.4% from the previous month and down 0.1% from last year. The average apartment size was 56.51 sqm and the average building age was 18.5 years.
In Tokyo’s 23 wards the average monthly rent was 3,292 Yen/sqm, down 0.2% from the previous month but up 0.1% from last year. The average apartment size was 55.78 sqm and the average building age was 17.8 years.
Both Yokohama and Saitama cities saw a large increase in average rents due to a larger share of transactions on newer apartments in more central locations, and a smaller share of transactions for older buildings that generally command lower rents.
Average monthly rent per sqm in June 2017:
|Tokyo 23 wards||3,292 Yen (-0.2% from May 2017; +0.1% from Jun. 2016)|
|Yokohama City||2,336 Yen (+3.7%; +8.5%)|
|Saitama City||1,887 Yen (+6.1%; +5.9%)|
|Chiba City||1,465 Yen (-1.8%; -1.5%)|
|Osaka City||2,340 Yen (-0.4%; -1.8%)|
|Kobe City||1,787 Yen (-1.4%; -4.6%)|
|Nagoya City||1,770 Yen (+5.2%; +1.7%)|
*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, July 13, 2017.