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According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,661 Yen/sqm in August, up 0.3% from the previous month and up 2.7% from last year. The average apartment size was 60.26 sqm and the average building age was 19.7 years.

In the Tokyo metropolitan area, the average monthly rent was 3,223 Yen/sqm, up 2.5% from the previous month and up 1.4% from last year. In the Tokyo metropolitan area, the average apartment age decreased from 18.3 years to 17.6 years, which contributed to the increase in the average rent from the previous month. The average apartment size was 57.73 sqm.

In Tokyo’s 23 wards, the average monthly rent was 3,372 Yen/sqm, up 2.0% from the previous month and up 1.8% from last year. This has exceeded the previous high of 3,354 Yen/sqm recorded in March 2016. The average apartment size was 57.15 sqm and the average building age was 17.1 years.

Average monthly rent per sqm in August 2016:

Tokyo 23 wards 3,372 Yen (+2.0% from Jul. 2016; +1.8% from Aug. 2015)
Yokohama City 2,134 Yen (-0.7%; +0.2%)
Saitama City 1,752 Yen (+1.6%; +1.0%)
Chiba City 1,534 Yen (-0.3%; +5.3%)
Osaka City 2,311 Yen (-1.6%; +13.3%)
Kobe City 1,817 Yen (-2.0%; +4.5%)
Nagoya City 1,709 Yen (-0.1%; +3.2%)

 

*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, September 15, 2016.

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