Archive For The “Rental Market” Category

Average rent in Tokyo drops for 4th month in a row

Average rent in Tokyo drops for 4th month in a row

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,308 Yen/sqm in October, up 0.6% from the previous month but down 0.7% from last year. This is the 4th month in a row to record a year-on-year decline in rents.

16-fold rent increase for shopkeepers at Asakusa’s Sensoji temple

16-fold rent increase for shopkeepers at Asakusa’s Sensoji temple

Shopkeepers alongside the Nakamise shopping street, a 250 meters long souvenir shop-lined pedestrian mall leading to Sensoji temple in Tokyo, are reeling after being hit with a potential 16-fold increase in store rents. In September, Sensoji temple informed the tenants of plans to increase the rent from the current level of 15,000 Yen per month…

Banks urged to take care when lending on investment properties

According to Japan’s Financial Services Agency’s Financing Report, the average vacancy rate for investment-grade apartment buildings is estimated to be around 7%. For ‘apaato’-type buildings less than 5 years old, the average vacancy rate was just 2.6%, but for a 10-year old building it was 7.1% and 11.6% for 20-year old buildings. As buildings age,…

Average rent drops for 3rd consecutive month in Tokyo

Average rent drops for 3rd consecutive month in Tokyo

In September, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,287 Yen/sqm, down 0.2% from the previous month and down 2.4% from last year. This is the 3rd month in a row to record a year-on-year drop in rents and the lowest level seen in the past 12 months.

Apartment occupancy rates reach record high in Japan

Apartment occupancy rates reach record high in Japan

The average occupancy rate of rental apartment buildings acquired by J-REITs has been steadily improving since 2010 and has exceeded levels last seen during the peak in 2008. In the second half of 2016 the average occupancy rate was 96%, a record high. This is due both to an improving property market and REITS acquiring…

Average apartment rent in June 2017

Average apartment rent in June 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in June 2017 was 2,619 Yen/sqm, down 0.5% from the previous month but up 0.5% from last year. The average apartment size was 59.62 sqm and the average building age was 20.4 years. In the Tokyo metropolitan area the average…

Kyoto’s most expensive rental apartments to open in 2018

Kyoto’s most expensive rental apartments to open in 2018

Kyoto’s most expensive rental apartment building is scheduled open in May 2018. The 5-storey La Tour Kyoto Higashiyama residence is being developed by Sumitomo Realty in the Higashiyama ward. It will be part of Sumitomo’s ‘La Tour’ brand of high-end rental apartments. The developer currently operates 20 La Tour buildings in central Tokyo, but this…

Average apartment rent in May 2017

Average apartment rent in May 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment across greater Tokyo in May 2017 was 2,633 Yen/sqm, down 0.8% from the previous month and down 1.1% from last year. The average apartment size was 59.94 sqm and the average building age was 20.2 years. In the Tokyo metropolitan area, the average…

Average apartment rent in April 2017

Average apartment rent in April 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment across greater Tokyo in April 2017 was 2,654 Yen/sqm, down 1.0% from the previous month and down 0.5% from last year. The average apartment size was 60.29 sqm and the average building age was 20.2 years. In the Tokyo metropolitan area, the average…

Average apartment rent in March 2017

Average apartment rent in March 2017

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in March was 2,681 Yen/sqm, up 0.6% from the previous month and up 3.6% from last year. The average apartment size was 60.35 sqm and the average building age was 20.0 years. In the Tokyo metropolitan area, the average monthly…

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