April 2015 rent

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,601 Yen/sqm in April, down 0.5% from the previous month and down 1.4% from last year. The average apartment size was 59.68 sqm and the average building age was 18.8 years.

In the Tokyo metropolitan area, the average rent was 3,120 Yen/sqm, up 0.5% from the previous month and up 1.1% from last year. The average apartment size was 56.68 sqm and the average building age was 17.1 years.

In Tokyo’s 23 wards, the average rent increased for the third consecutive month, and has exceeded the previous peak last seen in October 2014. Yokohama and Chiba City have seen a slight drop in rent from the previous month, with Chiba showing a downwards trend from the beginning of the year.

Average monthly rent per sqm in April 2015:

Tokyo 23-ku 3,239 Yen (+0.9% from March; +1.1% from Apr. 2014)
Yokohama City 2,146 Yen (-0.6%; -2.8%)
Saitama City 1,805 Yen (+0.9%; +0.7%)
Chiba City 1,443 Yen (-0.8%; -10.5%)
Osaka City 2,152 Yen (-1.4%; -0.6%)
Kobe City 1,792 Yen (+1.1%; -3.3%)
Nagoya City 1,717 Yen (-0.8%; -1.3%)

*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, May 14, 2015.

 

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