Apartment Rent Jan2016

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,567 Yen/sqm in January 2016, down 2.3% from the previous month but up 0.9% from January 2015. This is the first time in 5 months that the average rent has fallen below the 2,600 Yen/sqm line, and is due to both a smaller share of listings in the Tokyo metropolitan area, as well as a softening of the rental market. The average apartment size was 59.70 sqm and the average building age was 19.9 years.

In the Tokyo metropolitan area, the average monthly rent was 3,128 Yen/sqm, down 1.2% from the previous month but up 2.6% from last year. The average apartment size was 56.46 sqm and the average building age was 18.1 years.

In Tokyo’s 23 wards, the average rent was 3,280 Yen/sqm, down 0.9% from the previous month but up 3.1% from last year. The average apartment size was 55.79 sqm and the average building age was 17.5 years.

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