According to TAS Corp’s latest report on the rental market for apartments, the average vacancy rate in Tokyo’s 23-ku was 11.56% in September, up 0.07 points from the previous month but down 0.08 points from September 2012.
Tokyo 23-ku |
Kanagawa Prefecture | Saitama Prefecture | Chiba Prefecture | |
Vacancy rate | 11.58% | 12.91% | 15.50% | 13.40% |
Time advertised (months) | 3.02 | 3.43 | 3.35 | 3.25 |
Renewal rate | 43.48% | 46.45% | 49.60% | 52.03% |
Mid-contract cancellation rate | 39.04% | 37.46% | 35.01% | 34.77% |
Osaka Prefecture | Kyoto Prefecture | Hyogo Prefecture | Shizuoka Prefecture | |
Vacancy rate | 8.01% | 13.81% | 11.76% | 23.41% |
Time advertised (months) | 4.49 | 5.55 | 5.18 | 5.86 |
Renewal rate | 38.35% | 12.91% | 26.87% | 18.69% |
Mid-contract cancellation rate | 49.05% | 72.56% | 63.79% | 70.93% |
About the data:
Time advertised: the average time an apartment is advertised before a tenant is found.
Renewal rate: The percentage of rental contracts that are renewed at the end of the term.
Mid-contract cancellation rate: The percentage of rental contracts that are cancelled before the end of the term.
Source: TAS Corp, November 26, 2013.