Apartment rents in Tokyo increase for 11th month

According to Tokyo Kantei, the average monthly rent for an apartment in Tokyo’s 23 wards was 3,526 Yen/sqm in October 2018, up 0.6% from the previous month and up 6.6% from last year. This is the 11th month in a row to see a year-on-year increase.

The average apartment size was 55.44 sqm and the average building age was 19.6 years.

Average rents in Yokohama were up 1.2% from the previous month but down 3.1% from last year. Rents in Osaka City are down 0.9% from last year due to an increase in the share of older, cheaper rental listings.

The data, provided by Tokyo Kantei, is based on the advertised rent of condominium-type apartments recorded in Tokyo Kantei’s database and is limited to family-type apartments (excluding apartments under 30 sqm in size, office and retail space).

Source: Tokyo Kantei, November 14, 2018.