According to listing site Homes, the average yield on an apartment in Minato-ku as of June 2013 was 7.22%. The average yield across Tokyo was 8.3%. The vacancy rate was 9.9% in Minato-ku and 11.0% across Tokyo.
The published yields are based on listings advertised on the Homes site. These listings are primarily investment-type properties, such as small tenanted studios, which typically have a higher yield than larger 2 or 3-bedroom family-type apartments.
Older buildings tend to have higher rental yields, as shown below.
Building age and gross return (return after deducting monthly building fees):
- 0-15 yrs old: 5.88% (5.14%)
- 15-30 yrs old: 6.88% (5.76%)
- 30+ yrs old: 8.87% (7.33%)
The returns do not include:
- Rental management fees
- Annual fixed asset taxes
- Any income taxes payable
- Purchase fees
Average advertised monthly rent for an apartment <10 mins from the nearest train station:
- Studio: 131,700 Yen
- 1-Bedroom: 212,500 Yen
- 2-Bedroom: 276,900 Yen
- 3-Bedroom: 318,400 Yen
Source: Homes (Data obtained June 9 2013)
631 total views, 12 views today