Average apartment rent in April 2016

Japan Apt Rent Apt2016

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,666 Yen/sqm in April, up 3.0% from the previous month and up 2.5% from last year. The average apartment size was 59.21 sqm and the average building age was 19.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,156 Yen/sqm, down 1.9% from the previous month but up 1.2% from last year. The average apartment size was 56.51 sqm and the average building age was 17.3 years.

In Tokyo’s 23 wards, the average monthly rent was 3,307 Yen/sqm, down 1.4% from the previous month but up 2.1% from last year. The average apartment size was 55.94 sqm and the average building age was 16.7 years.

July 2015 rental data – Tokyo Kantei

Japan apartment rent July 2015

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,590 Yen/sqm in July, down 1.0% from the previous month but up 1.3% from last year. Transactions in the Tokyo metropolitan area represented a smaller share of the total, which resulted in a decline in the monthly average. This is the first time in six months that the average has dropped below 2,600 Yen/sqm.  The average apartment size was 59.75 sqm and the average building age was 19.4 years.

In the Tokyo metropolitan area, the average rent was 3,145 Yen/sqm, up 1.1% from the previous month and up 3.1% from last year. The average apartment size was 56.70 sqm and the average building age was 17.7 years.

January 2015 rental data – Tokyo Kantei

January apartment rent Japan

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,545 Yen/sqm in January, down 0.7% from the previous month and down 1.1% from last year. The average apartment size was 60.03 sqm and the average building age was 19.7 years.

In Tokyo’s 23-ku, the average monthly rent was 3,180 Yen/sqm, down 0.5% from the previous month but up 1.1% from last year. This is the 3rd month in a row to see a month-on-month decline.  The average apartment size was 56.58 sqm and the average building age was 18.0 years.

December rental data – Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condomonium apartment in greater Tokyo was 2,562 Yen/sqm in December, up 0.1% from the previous month and up 1.9% from the previous year. The average apartment size was 59.62 sqm and the average building age was 19.7 years.

In Tokyo’s 23-ku, the average monthly rent was 3,195 Yen/sqm, down 0.1% from the previous month but up 2.3% from the previous year.

October rental data – Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,602 Yen/sqm in October, up 1.0% from the previous month and up 2.8% from last year. This is the first time in four months that the rent has exceeded 2,600 Yen/sqm. The average apartment size was 60.20 sqm and the average building age was 19.2 years.

The average monthly rent in Tokyo’s 23-ku was 3,233 Yen/sqm, up 0.8% from the previous month and up 4.9% from last year. The average apartment size was 56.74 sqm and the average building age was 17.4 years. Starting with Tokyo’s central 6 wards, almost all areas in the 23 wards have been seeing either stable or strong growth in rent.

Yokohama City is seeing a continued downwards trend. In Kobe City, the average building age increased from 19.9 years to 21.3 years, which caused a corresponding drop in average rent.

September rental data – Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,575 Yen/sqm in September, up 0.5% from the previous month and up 1.2% from last year. The average apartment size was 60.01 sqm and the average building age was 19.3 years.

The average rent in Tokyo’s 23-ku was 3,207 Yen/sqm, up 1.3% from the previous month and up 3.6% from last year. The average apartment size was 57.02 sqm and the average building age was 17.4 years.

August rental data – Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,561 Yen/sqm in August, up 0.1% from the previous month and up 0.5% from last year. The average apartment size was 59.71 sqm and the average building age was 19.2 years.

The average rent in Tokyo’s 23-ku was 3,166 Yen/sqm, down 0.3% from the previous month but up 2.3% from last year. The average apartment size was 56.65 sqm and the average building age was 17.5 years.

Inheritance tax changes, not Abenomics, behind recent rise in apartment rent?

Apartment rent and age in Tokyo

According to the Real Estate Economic Institute, the average price of a brand new apartment in greater Tokyo was 49,290,000 Yen in 2013, up 8.6% from the year before and higher than the average of 47,750,000 Yen seen during the ‘mini bubble’ in 2008. Sales of apartments priced over 100 million Yen have also increased, as has investment from domestic and foreign funds.

Apartment rent, however, has not shown the same trajectory. According to Tokyo Kantei, the average monthly rent of a family-sized apartment less than 5 years old in Tokyo’s 23 wards was 4,007 Yen/sqm in June 2014, up 9.2% from the previous year. For apartments between 6 ~ 10 years old, the average monthly rent was 3,461 Yen/sqm, showing almost no change from 12 months prior. For apartments aged between 21 ~ 30 years old, average rents dropped by 2.6% to 2,496 Yen/sqm, while rents for apartments over 30 years old had fallen by 0.5% to 2,616 Yen/sqm. Masayuki Takabashi, a researcher from Tokyo Kantei, said that the recent increase in the consumption tax rate has reduced the real income of consumers, which has made conditions difficult for landlords who want to achieve strong rental returns.

June rental data – Tokyo Kantei

Tokyo Rent June 2014

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,609 Yen/sqm in June, down 0.5% from the previous month but up 2.7% from last year. All areas within greater Tokyo saw rents decline from the previous month.

The average apartment size was 59.37 sqm and the average building age was 18.7 years.

The average rent in Tokyo’s 23-ku was 3,174 Yen/sqm, down 0.7% from the previous month but up 2.4% from last year. The average apartment size was 56.38 sqm and the average building age was 16.9 years.

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