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.
|Kanagawa Prefecture||Saitama Prefecture||Chiba Prefecture|
|Time advertised (months)||3.02||3.37||3.33||3.15|
|Mid-contract cancellation rate||39.49%||37.99%||37.83%||34.80%|
|Osaka Prefecture||Kyoto Prefecture||Hyogo Prefecture||Shizuoka Prefecture|
|Time advertised (months)||4.46||5.46||5.13||6.01|
|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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