Residential yields in Minato-ku – June 2016

Tokyo Apt Yield 201606

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in Tokyo was 4.4% in June 2016, up 0.2 points from the previous month but down 0.3 points from last year. The average yield across Tokyo was 6.2%, down 0.1 points from the previous month and down 0.5 points from last year.

The average asking price for a second-hand apartment in Minato-ku was 979,942 Yen/sqm as of June 1, up 0.9% from the previous month and up 14.3% from last year. The average asking price for land was 1,391,818 Yen/sqm, up 1.2% from the previous month and up 14.8% from last year.

Tokyo Apt Price 201606

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

  • 1-14 yrs old: 4.40% (3.93%)
  • 15-29 yrs old: 5.03% (4.45%)
  • 30+ yrs old: 6.11% (5.06%)

Apartments less than 10 years old had an average gross yield of 4.07% (3.70% after deducting building fees).

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

  • Studio: 133,500 Yen
  • 1-Bedroom: 214,900 Yen
  • 2-Bedroom: 301,500 Yen
  • 3-Bedroom: 319,600 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 June 7, 2016).

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