According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.6% in February, showing no change from the previous month but down 0.6 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 906,757 Yen/sqm as of February 1, up 1.3% from the previous month and up 2.5% from last year. The average asking price for land was 1,385,454 Yen/sqm, up 2.0% from the previous month and up 10.5% from last year.
Building age and gross yield (yield after deducting monthly building fees):
- 1-14 yrs old: 4.56% (4.03%)
- 15-29 yrs old: 4.86% (4.29%)
- 30+ yrs old: 6.32% (5.10%)
Apartments less than 10 years old had an average gross yield of 4.10% (3.73% after deducting building fees).
Average advertised monthly rent for an apartment less than 10 minutes walk from the nearest train station:
- Studio: 131,200 Yen
- 1-Bedroom: 209,900 Yen
- 2-Bedroom: 287,000 Yen
- 3-Bedroom: 334,900 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
Source: Homes (Data obtained February 7, 2016).
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