Average rent in Tokyo drops for 4th month in a row

According to Tokyo Kantei, the average monthly rent of a condominium in Tokyo’s 23 wards was 3,308 Yen/sqm in October, up 0.6% from the previous month but down 0.7% from last year. This is the 4th month in a row to record a year-on-year decline in rents.

Across the greater Tokyo area the average monthly rent was 2,645 Yen/sqm, up 0.5% from the previous month but down 1.9% from last year. Average rents in Nagoya City are up 8.4% from last year, while rents in Osaka City area up 4.4% over the same period.

Source: Tokyo Kantei, November 16, 2017.

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