Tokyo apartment rents drop 0.5% from previous month

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,464 Yen/sqm in August, down 0.5% from the previous month but up 5.1% from last year. This is the 9th month in a row to see a year-on-year increase. The average apartment size was 55.47 sqm and the average building age was 19.5 years.

Yokohama City saw average monthly rents fall 0.7% from the previous month to 2,179 Yen/sqm. The average rent is now down 5.7% from last year. This is the sixth month in a row to see a month-on-month decline in rent in the city.

Source: Tokyo Kantei, September 13, 2018.