Curious about the typical monthly building fee charges that come with owning an apartment in Tokyo?
According to multiple-listing database REINS, the average total monthly building fee for a second-hand apartment sold across greater Tokyo in 2021 was 365 Yen per square meter. In other words, a 100 sqm apartment would have an average monthly building fee of 36,500 Yen.
The average building management fee was 191 Yen per square meter, and the average repair fund fee was 173 Yen per square meter.
Repair fund fees are usually higher for older buildings as maintenance and repairs start to cost more as structures age and require more large-ticket items such as exterior waterproofing and elevator replacements. The average repair fund fee for an apartment in a building less than 10 years old was 137 Yen per square meter vs. 188 Yen per square for a building over 30 years old.
When you own an apartment, you are required to pay monthly management and repair fund fees. These fees go towards the operations and maintenance of the building and any ongoing repairs, large or small, to the building’s common areas. These fees can vary depending on the building, the total number of apartments, facilities, and building age. Within a building, they are calculated per square meter, with larger apartments paying a higher total bill each month. They do not cover repairs to the interior of your apartment. And, with the exception of some buildings, they do not cover the utility bills or property taxes for your apartment – apartment owners pay those separately.
Source: REINS, May 26, 2022.
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