The average monthly rent of a condominium-type apartment in Tokyo’s 23 wards was 3,820 Yen/sqm in October, up 0.6% from the previous month. This is the first month-on-month increase in 6 months. Rents are down 0.3% from last year.

Rents have not managed to keep up with the peaks seen in February and March of this year. 

Across greater Tokyo, the average rent was 3,291 Yen/sqm, down 0.3% from the previous month and down 0.5% from last year. This is the first time in 9 months to drop below the 3,300 Yen/sqm level and is due to a smaller share of listings in the Tokyo area. 

Source: Tokyo Kantei, November 16, 2022.