According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,656 Yen/sqm in May, up 2.1% from the previous month and up 1.3% from last year. The average apartment size was 59.08 sqm and the average building age was 18.7 years.
In the Tokyo metropolitan area, the average rent was 3,104 Yen/sqm, down 0.5% from the previous month but up 0.9% from last year. The average apartment size was 56.64 sqm and the average building age was 17.3 years.
In Tokyo’s 23 wards, the average rent was 3,229 Yen/sqm, down 0.3% from the previous month but up 1.0% from last year.
In Chiba City, the average rent has been in a downwards trend since the start of the year. The average rent in May was 1,439 Yen/sqm, down 0.3% from the previous month and down 9.6% from last year.
Average monthly rent per sqm in May 2015:
|Tokyo 23-ku||3,229Yen (-0.3% from April; +1.0% from May 2014)|
|Yokohama City||2,175 Yen (+1.4%; -1.5%)|
|Saitama City||1,794 Yen (-0.6%; +1.4%)|
|Chiba City||1,439 Yen (-0.3%; -9.6%)|
|Osaka City||2,157 Yen (+0.2%; -0.8%)|
|Kobe City||1,764 Yen (-1.6%; -6.2%)|
|Nagoya City||1,722 Yen (+0.3%; -0.7%)|
*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, May 14, 2015.