Apartment rents in Tokyo increase for 12th month

According to Tokyo Kantei, the average monthly rent for an apartment in Tokyo’s 23 wards was 3,506 Yen/sqm in November 2018, down 0.6% from the previous month but up 5.2% from last year. This is the 12 month in a row to see a year-on-year increase.

The average apartment size was 54.95 sqm and the average building age was 19.6 years.

Average rents in Kobe, Osaka and Yokohama Cities were all down year-on-year. Saitama City, meanwhile, saw a 12.3% increase from last year due to a larger share of newer apartments.

The data, provided by Tokyo Kantei, is based on the advertised rent of condominium-type apartments recorded in Tokyo Kantei’s database and is limited to family-type apartments (excluding apartments under 30 sqm in size, office and retail space).

Source: Tokyo Kantei, December 13, 2018.