Residential yields in Minato-ku – January 2016

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.6% in January, down 0.1 points from the previous month and down 0.7 points from last year. The average gross yield across Tokyo was 6.2%, showing no change from the previous month but down 0.6 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 895,543 Yen/sqm as of January 1, up 0.6% from the previous month and up 6.2% from last year. The average asking price for land was 1,358,485 Yen/sqm, up 3.1% from the previous month and up 7.6% from last year.

Minato Prices Jan 16

Building age and gross yield (yield after deducting monthly building fees):

  • 1-14 yrs old: 4.67% (4.11%)
  • 15-29 yrs old: 5.01% (4.38%)
  • 30+ yrs old: 6.49% (5.29%)

Apartments less than 10 years old had an average gross yield of 4.22% (3.83% after deducting building fees).

Average advertised monthly rent for an apartment less than 10 minutes walk from the nearest train station:

  • Studio: 130,200 Yen
  • 1-Bedroom: 214,800 Yen
  • 2-Bedroom: 294,100 Yen
  • 3-Bedroom: 316,300 Yen

About the Data:

The published yields are based on listings advertised on the Homes site. These listings are mainly investment-type properties, such as small tenanted studios, which typically have a higher yield than larger 2 or 3 bedroom family-type apartments.

The calculations do not include:

  • Rental management fees
  • Annual fixed asset taxes
  • Purchase fees
  • Repairs
  • Taxes

Source: Homes (Data obtained January 7, 2016).

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