Apartment Rent Jan2016

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,567 Yen/sqm in January 2016, down 2.3% from the previous month but up 0.9% from January 2015. This is the first time in 5 months that the average rent has fallen below the 2,600 Yen/sqm line, and is due to both a smaller share of listings in the Tokyo metropolitan area, as well as a softening of the rental market. The average apartment size was 59.70 sqm and the average building age was 19.9 years.

In the Tokyo metropolitan area, the average monthly rent was 3,128 Yen/sqm, down 1.2% from the previous month but up 2.6% from last year. The average apartment size was 56.46 sqm and the average building age was 18.1 years.

In Tokyo’s 23 wards, the average rent was 3,280 Yen/sqm, down 0.9% from the previous month but up 3.1% from last year. The average apartment size was 55.79 sqm and the average building age was 17.5 years.

Average rents in the cities of Saitama, Chiba and Kobe were all down from 12 months ago.

Average monthly rent per sqm in January 2016:

Tokyo 23 wards 3,280 Yen (-0.9% from Dec. 2015; +3.1% from Jan. 2015)
Yokohama City 2,142 Yen (+0.4%; +0.8%)
Saitama City 1,747 Yen (-0.2%; -0.8%)
Chiba City 1,466 Yen (+1.3%; -1.2%)
Osaka City 2,125 Yen (+4.3%; +1.5%)
Kobe City 1,816 Yen (-0.5%; -0.8%)
Nagoya City 1,701 Yen (+0.1%; +3.7%)

*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, February 15, 2016.

Loading