japan-apartment-rent-sep2016

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,663 Yen/sqm in September, up 0.1% from the previous month and up 0.6% from last year. The average apartment size was 60.05 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,230 Yen/sqm, up 0.2% from the previous month and up 1.5% from last year. The average apartment size was 57.39 sqm and the average building age was 18.0 years.

In Tokyo’s 23 wards, the average monthly rent was 3,369 Yen/sqm, down 0.1% from the previous month but up 1.3% from last year. The average apartment size was 56.85 sqm and the average building age was 17.5 years.

Average rents in both Yokohama and Saitama Cities were down a little over 1% from last year. Rents in Yokohama in September were 1.6% lower than the average September 2012. Rents in Tokyo’s 23 wards, however, have increased by an average of 12.1% over the same period.

Average monthly rent per sqm in September 2016:

Tokyo 23 wards 3,369 Yen (-0.1% from Aug. 2016; +1.3% from Sep. 2015)
Yokohama City 2,132 Yen (-0.1%; -1.1%)
Saitama City 1,738 Yen (-0.8%; -1.9%)
Chiba City 1,505 Yen (-1.9%; +1.1%)
Osaka City 2,319 Yen (+0.3%; +14.1%)
Kobe City 1,815 Yen (-0.1%; +4.6%)
Nagoya City 1,698 Yen (-0.6%; +2.1%)

*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, October 18, 2016.

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