Average rent in Tokyo drops for 5th month in a row

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,334 Yen/sqm in November 2017, up 0.8% from the previous month but down 0.5% from last year. Average rents have been down year-on-year since July, although they have been showing an increasing trend for apartments in buildings less than 10 years old.

Across the greater Tokyo area the average monthly rent was 2,645 Yen/sqm, up 0.6% from the previous month but down 2.8% from last year.

Source: Tokyo Kantei, December 14, 2017.