TAS Corp’s rental market data for February

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.

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