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.

Sales start in 50-storey high-rise in Osaka

Off-the-plan sales in the 50-storey Branz Tower Umeda North condominium began over the weekend, with the most expensive unit in the building – a 145 square meter three-bedroom penthouse – priced at 270 million Yen (approx. 2.37 million USD). A total of 218 apartments were offered for sale in the first round, representing a third of the total units in the building. Sale prices ranged from 36 to 270 million Yen and sizes ranged from 42 ~ 145 sqm (452 ~ 1,560 sq ft).

The 653-unit building is due for completion in November 2019 with apartments delivered to buyers from February 2020 onwards.

Tokyo apartment asking prices in May 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment across greater Tokyo was 35,720,000 Yen in May, up 0.3% from the previous month and up 3.5% from last year. The average building age was 22.8 years.

In the Tokyo metropolitan area, the average asking price was 48,220,000 Yen, down 0.4% from the previous month but up 1.2% from last year. The average building age was 22.3 years.

In Tokyo’s 23 wards, the average asking price was 53,170,000 Yen, down 0.1% from the previous month but up 0.9% from last year. The average building age was 22.2 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,360,000 Yen, up 0.5% from the previous month and up 2.7% from last year. Thea average building age was 20.0 years.

Average apartment rent in May 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in May 2017 was 2,633 Yen/sqm, down 0.8% from the previous month and down 1.1% from last year. The average apartment size was 59.94 sqm and the average building age was 20.2 years.

In the Tokyo metropolitan area, the average monthly rent was 3,140 Yen/sqm, down 0.6% from the previous month and down 0.8% from last year. The average apartment size was 57.28 sqm and the average building age was 18.3 years.

In Tokyo’s 23 wards, the average monthly rent was 3,299 Yen/sqm, down 0.7% from the previous month but up 0.2% from last year. The average apartment size was 56.73 sqm and the average building age was 17.6 years.

B&B host ordered to pay landlord 700,000 Yen

The host of an illegal B&B operating out of an apartment building in Osaka has been ordered to pay 700,000 Yen (approx. 6,360 USD) in compensation to their landlord. The owner of the apartment building filed a suit in the Osaka District Court seeking 1,400,000 Yen from the tenant who was illegally subletting the apartment to tourists.

According to the landlord, the 41 square meter apartment was rented to a company based in Kyoto. The terms of the lease agreement limited the use of the apartment to residential only and prohibited any form of sub-leasing.

Tokyo apartment asking prices in April 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,600,000 Yen in April, down 0.6% from the previous month but up 3.9% from last year. The average building age was 22.7 years.

In the Tokyo metropolitan area the average asking price was 48,410,000 Yen, up 0.5% from the previous month and up 2.1% from last year. The average building age was 22.1 years.

In Tokyo’s 23 wards the average asking price was 53,230,000 Yen, up 0.2% from the previous month and up 1.3% from last year. The average building age was 22.0 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 73,030,000 Yen, up 0.4% from the previous month and up 1.8% from last year. The average building age was 20.0 years.

Average apartment rent in April 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment across greater Tokyo in April 2017 was 2,654 Yen/sqm, down 1.0% from the previous month and down 0.5% from last year. The average apartment size was 60.29 sqm and the average building age was 20.2 years.

In the Tokyo metropolitan area, the average monthly rent was 3,158 Yen/sqm, down 0.7% from the previous month but up 0.1% from last year. The average apartment size was 57.69 sqm and the average building age was 18.4 years.

In Tokyo’s 23 wards, the average monthly rent was 3,321 Yen/sqm, down 0.6% from the previous month but up 0.4% from last year.

Tokyo apartment asking prices in March 2017

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq ft) second-hand apartment in greater Tokyo was 35,810,000 Yen in March 2017, down 0.1% from the previous month but up 5.8% from last year. The average building age was 22.5 years.

In the Tokyo metropolitan area the average asking price was 48,150,000 Yen, down 0.6% from the previous month but up 2.8% from last year. The average building age was 21.9 years.

In Tokyo’s 23 wards the average asking price was 53,110,000 Yen, down 0.3% from the previous month but up 2.5% from last year. The average building age was 21.8 years.

In Tokyo’s central six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya) the average asking price was 72,770,000 Yen, up 0.1% from the previous month and up 1.8% from last year. The average building age was 20.1 years.

Prices in central Osaka have shifted to a downwards trend since July 2016. In March, asking prices were 37,060,000 Yen, down 1.5% from the previous month.

Average apartment rent in March 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in March was 2,681 Yen/sqm, up 0.6% from the previous month and up 3.6% from last year. The average apartment size was 60.35 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,180 Yen/sqm, up 0.4% from the previous month but down 1.1% from last year. The average apartment size was 58.16 sqm and the average building age was 18.3 years.

In Tokyo’s 23 wards, the average monthly rent was 3,342 Yen/sqm, up 0.4% from the previous month but down 0.4% from last year. The average apartment size was 57.72 sqm and the average building age was 17.6 years.

80-yr old Osaka department store to be converted to luxury serviced apartments

The East Annex Building of the Takashimaya Department Store in Osaka’s Nipponbashi district may soon be refurbished and converted into high-end serviced apartments catering to foreign visitors.

Takashimaya is expected to enter into an agreement with major Singapore developer CapitaLand later this year.

The 7-story Renaissance-style building has a total floor area of 40,000 square meters (430,000 sq ft). It was was originally the Matsuzakaya Osaka Department Store and was built over two stages between 1934 and 1937. In 1966 it was sold to Takashimaya and has since been used as their office and archives.

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