Archive For The “Rental Market” Category

Average apartment rent in January 2017

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,681 Yen/sqm in January 2017, down 1.4% from the previous month but up 4.4% from last year. The average apartment size was 60.24 sqm and the average building age was 20.3 years.

In the Tokyo metropolitan area, the average monthly rent was 3,186 Yen/sqm, down 0.4% from the previous month but up 1.9% from last year. The average apartment size was 58.03 sqm and the average building age was 18.4 years.

In Tokyo’s 23 wards, the average monthly rent was 3,330 Yen/sqm, down 0.7% from the previous month but up 1.5% from last year. This was the first time in 3 months to see a decrease, although prices have remained fairly constant around the 3,300 Yen/sqm range since August 2016. The average apartment size was 57.65 sqm and the average building age was 17.8 years.

(more…)

All, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Average apartment rent in December 2016

According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,720 Yen/sqm in December 2016, down 0.7% from the previous month but up 3.5% from December 2015. The average apartment size was 59.84 sqm and the average building age was 20.2 years.

In the Tokyo metropolitan area, the average monthly rent was 3,198 Yen/sqm, down 0.4% from the previous month but up 1.0% from 2015. The average apartment size was 57.69 sqm and the average building age was 18.2 years.

In Tokyo’s 23 wards, the average monthly rent was 3,353 Yen/sqm, up 0.1% from the previous month and up 1.3% from last year. The average apartment size was 57.02 sqm and the average building age was 17.7 years.

Rents in Yokohama, Kobe and Nagoya are all down around 1% from 12 months prior.

(more…)

All, Market Information, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

The residential vacancy rate situation in Tokyo

Nasu Town in Tochigi has a vacancy rate of over 50% due to a large number of holiday homes that are considered vacant because they are not occupied all-year-round. Meanwhile, the town of 25,281 residents has just 9 rental listings.

According to the Statistics Bureau and the Tokyo Shimbun, the number of towns, cities and wards within the greater Tokyo area with vacancy rates below 10% has halved in the 10 years since 2003. In 2013, there were 56 districts with vacancy rates below 10% and 65 districts with vacancy rates over 15%.

Growing vacancy rates are caused by a variety of factors, including decline population in regional areas, an increase in the supply of housing, as well as an increase in the number of abandoned or uninhabitable homes that are left to rot instead of being demolished.

Highest vacancy rates

TOKYO METROPOLITAN AREA
[1] Toshima-ku 15.8%
[2] Ota-ku 14.8%
[3] Musashino City 14.1%
[4] Nakano-ku 13.7%
[5] Chiyoda-ku 13.3%
GREATER TOKYO AREA
[1] Nasu Town, Tochigi 50.5%
[2] Katsuura City, Chiba 36.8%
[3] Yugawara Town, Kanagawa 33.4%
[4] Isumi City, Chiba 28.6%
[5] Kamogawa City, Chiba 26.3%

 

Beware of relying on this data

Investors should not rely on this data as it is far from accurate for the rental market. (more…)

All, Market Information, Real Estate News, Rental Market, Tokyo

Vacancy rates for apaato-type buildings reach 30% in Tokyo

Vacancy rates in Tokyo and Kanagawa have been steadily climbing due to an oversupply of ‘apaato’-type rental buildings (low-rise blocks of rental flats usually built from wood or light-weight steel) in recent years.

According to TAS Corp, vacancy rates for wood-frame or light-steel-frame apartment buildings are over 30% in the greater Tokyo area, and as high as 37% in Kanagawa Prefecture. In other words, 1 in 3 units in ‘apaato’-type rental buildings are vacant. (more…)

All, Market Information, Real Estate News, Rental Market, Tokyo

Average apartment rent in November 2016

apartment-rent-201611

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,738 Yen/sqm in November, up 1.5% from the previous month and up 4.3% from last year. This is the fifth consecutive month to see a month-on-month increase in rents. The average apartment size was 59.12 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,312 Yen/sqm, up 1.9% from the previous month and up 1.7% from last year. The average apartment size was 56.78 sqm and the average building age was 18.1 years. (more…)

All, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Average apartment rent in October 2016

tokyo-apartment-rent-201610

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,697 Yen/sqm in October, up 1.3% from the previous month and up 0.6% from last year. The average apartment size was 59.29 sqm and the average building age was 20.1 years.  In October, apartments in the Tokyo metropolitan area accounted for 66.5% of all listings across greater Tokyo, up from a 60.7% share in September. This contributed to the increase in rent from the previous month as prices in the Tokyo area are higher than surrounding prefectures.

In the Tokyo metropolitan area the average monthly rent was 3,153 Yen/sqm, down 2.4% from the previous month and down 1.0% from last year. The average apartment size was 56.99 sqm and the average building age was 18.4 years. (more…)

All, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Average apartment rent in September 2016

japan-apartment-rent-sep2016

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,663 Yen/sqm in September, up 0.1% from the previous month and up 0.6% from last year. The average apartment size was 60.05 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,230 Yen/sqm, up 0.2% from the previous month and up 1.5% from last year. The average apartment size was 57.39 sqm and the average building age was 18.0 years. (more…)

All, Market Information, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Average apartment rent in August 2016

japan-apartment-rent-201608

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,661 Yen/sqm in August, up 0.3% from the previous month and up 2.7% from last year. The average apartment size was 60.26 sqm and the average building age was 19.7 years.

In the Tokyo metropolitan area, the average monthly rent was 3,223 Yen/sqm, up 2.5% from the previous month and up 1.4% from last year. In the Tokyo metropolitan area, the average apartment age decreased from 18.3 years to 17.6 years, which contributed to the increase in the average rent from the previous month. The average apartment size was 57.73 sqm. (more…)

All, Market Information, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Average apartment rent in July 2016

Japan apartment rent 201607

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,652 Yen/sqm in July, up 1.8% from the previous month and up 2.4% from last year. A larger share of transactions in the Tokyo metropolitan area, where rents are higher than surrounding areas, pulled up the average. The average apartment size was 59.40 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,144 Yen/sqm, up 0.4% from the previous month but showing no change from last year. The average apartment size was 57.22 sqm and the average building age was 18.3 years. (more…)

All, Market Information, Nagoya, Osaka, Real Estate News, Rental Market, Tokyo

Zipper company’s passive town attracts residents despite high rent

YKK Passive Town 2

YKK Real Estate, a division of the YKK Group (the world’s largest zipper manufacturer), is developing a passive town in Kurobe City, Toyama Prefecture. The concept is to create comfortable housing designed for the environment that will reduce the need for air-conditioning.

The first phase of housing was completed in early 2016. Apartments in the 36-unit housing block do not have air-conditioning units. Instead, the building is cooled using circulating water from Toyama’s underground water system which is sourced from the Kurobe River. (more…)

All, Real Estate News, Rental Market
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