Average apartment rents in Tokyo increase for 8th month

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,481 Yen/sqm in July, down 0.1% from the previous month but up 5.4% from last year. This is the 8th month in a row to see a year-on-year increase. The average apartment size was 55.40 sqm and the average building age was 18.9 years.

Yokohama City has seen average rents drop 1.3% from the previous month and a 5.2% decline from last year. This is the 5th month in a row to see a decline. The average monthly rent in Osaka City was 2,463 Yen/sqm, down 1.0% from the previous month but up 6.9% from last year. Rents in Nagoya City are up 8.8% from last year.

Source: Tokyo Kantei, August 23, 2018.