Rent in Tokyo reaches record-high

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,488 Yen/sqm in January 2018, up 0.4% from the previous month and up 4.7% from last year. This is the highest level seen since record-keeping began in March 2008.

Across the greater Tokyo area the average monthly rent was 2,742 Yen/sqm, up 0.9% from the previous month and up 2.3% from last year.

Rents in Saitama City and Chiba City are both down year-on-year, while Nagoya City has seen average rents climb by 15.2% over the past 12 months.

Source: Tokyo Kantei, February 15, 2018.