According to TAS Corp’s latest report on the rental market for apartments, the average vacancy rate in Tokyo’s 23-ku was 11.85% in February, up 0.15 points from the previous month and up 0.28 points from February 2013.
Apartments were advertised for an average of 3.02 months before finding a tenant.
Tokyo 23-ku |
Kanagawa Prefecture | Saitama Prefecture | Chiba Prefecture | |
Vacancy rate | 11.85% | 12.87% | 15.45% | 13.27% |
Time advertised (months) | 3.02 | 3.37 | 3.33 | 3.15 |
Renewal rate | 43.46% | 46.45% | 47.79% | 53.70% |
Mid-contract cancellation rate | 39.49% | 37.99% | 37.83% | 34.80% |
Osaka Prefecture | Kyoto Prefecture | Hyogo Prefecture | Shizuoka Prefecture | |
Vacancy rate | 7.86% | 13.49% | 11.65% | 23.31% |
Time advertised (months) | 4.46 | 5.46 | 5.13 | 6.01 |
Renewal rate | 36.25% | 14.75% | 24.09% | 22.22% |
Mid-contract cancellation rate | 50.28% | 69.82% | 65.60% | 63.83% |
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, February 27, 2014.