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According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,697 Yen/sqm in October, up 1.3% from the previous month and up 0.6% from last year. The average apartment size was 59.29 sqm and the average building age was 20.1 years.  In October, apartments in the Tokyo metropolitan area accounted for 66.5% of all listings across greater Tokyo, up from a 60.7% share in September. This contributed to the increase in rent from the previous month as prices in the Tokyo area are higher than surrounding prefectures.

In the Tokyo metropolitan area the average monthly rent was 3,153 Yen/sqm, down 2.4% from the previous month and down 1.0% from last year. The average apartment size was 56.99 sqm and the average building age was 18.4 years.

In Tokyo’s 23 wards the average monthly rent was 3,330 Yen/sqm, down 1.2% from the previous month but up 0.4% from last year. The average apartment size was 56.24 sqm and the average building age was 17.7 years.

Average monthly rent per sqm in October 2016:

Tokyo 23 wards 3,330 Yen (-1.2% from Sep. 2016; +0.4% from Oct. 2015)
Yokohama City 2,128 Yen (-0.2%; -1.8%)
Saitama City 1,774 Yen (+2.1%; +1.7%)
Chiba City 1,485 Yen (-1.3%; +1.5%)
Osaka City 2,283 Yen (-1.6%; +11.1%)
Kobe City 1,796 Yen (-1.0%; +2.3%)
Nagoya City 1,682 Yen (-0.9%; +1.1%)

*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, November 17, 2016.

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