Average apartment rent in June 2017

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 wards3,292 Yen (-0.2% from May 2017; +0.1% from Jun. 2016)
Yokohama City2,336 Yen (+3.7%; +8.5%)
Saitama City1,887 Yen (+6.1%; +5.9%)
Chiba City1,465 Yen (-1.8%; -1.5%)
Osaka City2,340 Yen (-0.4%; -1.8%)
Kobe City1,787 Yen (-1.4%; -4.6%)
Nagoya City1,770 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.

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