According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,545 Yen/sqm in January, down 0.7% from the previous month and down 1.1% from last year. The average apartment size was 60.03 sqm and the average building age was 19.7 years.
In Tokyo’s 23-ku, the average monthly rent was 3,180 Yen/sqm, down 0.5% from the previous month but up 1.1% from last year. This is the 3rd month in a row to see a month-on-month decline. The average apartment size was 56.58 sqm and the average building age was 18.0 years.
Average monthly rent per sqm in January 2015:
|Tokyo 23-ku||3,180 Yen (-0.5% from December; +1.1% from Jan. 2014)|
|Yokohama City||2,124 Yen (+0.1%; -1.1%)|
|Saitama City||1,761 Yen (+0.7%; -3.0%)|
|Chiba City||1,484 Yen (-0.1%; +0.1%)|
|Osaka City||2,094 Yen (+1.8%; -4.4%)|
|Kobe City||1,830 Yen (+2.3%; +1.3%)|
|Nagoya City||1,640 Yen (+0.4%; -1.4%)|
*Data is based on the average advertised rent of family-type condominiums which may be higher than actual rent after negotiations. It does not include apartments less than 30 sqm in size, commercial or retail spaces.
Source: Tokyo Kantei, February 12, 2015.
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