According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,602 Yen/sqm in October, up 1.0% from the previous month and up 2.8% from last year. This is the first time in four months that the rent has exceeded 2,600 Yen/sqm. The average apartment size was 60.20 sqm and the average building age was 19.2 years.

The average monthly rent in Tokyo’s 23-ku was 3,233 Yen/sqm, up 0.8% from the previous month and up 4.9% from last year. The average apartment size was 56.74 sqm and the average building age was 17.4 years. Starting with Tokyo’s central 6 wards, almost all areas in the 23 wards have been seeing either stable or strong growth in rent.

Yokohama City is seeing a continued downwards trend. In Kobe City, the average building age increased from 19.9 years to 21.3 years, which caused a corresponding drop in average rent.

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