Average apartment rent in November 2016

apartment-rent-201611

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,738 Yen/sqm in November, up 1.5% from the previous month and up 4.3% from last year. This is the fifth consecutive month to see a month-on-month increase in rents. The average apartment size was 59.12 sqm and the average building age was 20.0 years.

In the Tokyo metropolitan area, the average monthly rent was 3,312 Yen/sqm, up 1.9% from the previous month and up 1.7% from last year. The average apartment size was 56.78 sqm and the average building age was 18.1 years.

Average monthly rent per sqm in November 2016:

Tokyo 23 wards 3,350 Yen (+0.6% from Oct. 2016; +1.3% from Nov. 2015)
Yokohama City 2,090 Yen (-1.8%; -2.0%)
Saitama City 1,694 Yen (-4.5%; -2.1%)
Chiba City 1,456 Yen (-2.0%; -1.2%)
Osaka City 2,293 Yen (+0.4%; +10.9%)
Kobe City 1,799 Yen (+0.2%; +0.9%)
Nagoya City 1,679 Yen (-0.2%; -0.1%)

*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, December 15, 2016.

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