Rental growth in Tokyo reaches 30-year high
Tokyo’s rental growth reached a 30-year high in March, with the Consumer Price Index (CPI) for privately-rented housing showing a 1.1% year-on-year increase. This is the highest percentage increase since October 1994. Nationwide, average rents increased by 0.4%, marking the 20th consecutive month of annual growth.Read more
Gap between advertised rents and tenant budgets reaches record high
The gap between the average advertised rent of housing in Tokyo’s 23 wards and tenant budget based on inquiries has reached its widest level in February, according to data published by LIFULL Home’s Press. The difference was the largest for family-oriented rentals.Read more
Tokyo apartment rents increase 1.6% y-o-y
The average advertised rent of condo-type apartments in Tokyo’s 23 wards reached 4,332 Yen/m2 in January, according to Tokyo Kantei. This is a 0.9% increase from the previous month and a 1.6% increase from January 2024.Read more
Mitsubishi opens Hmlet-branded co-living apartment building in Ikebukuro
In December, Mitsubishi Jisho Residence opened a 28-room co-living rental apartment building operated by Hmlet Japan.Read more
Zushi’s newest rental priced 40% higher than its competitors
Over the summer, a luxury rental apartment building along the coast in Zushi was completed. The 5-story, 27-unit building is targeting tenants from Tokyo and Yokohama looking to rent a long-term beachside holiday home.Read more
Our 2024 Q4 Japan Real Estate Market Report
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Gap remains between asking rents and tenant budgets in Tokyo
With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents, year-on-year increases of 30 ~ 45% can be seen in some city centers, particularly for family-type rental apartments. But are tenants willing to pay these prices?
In October, listing portal site LIFULL HOME’S published its latest rental data, which separates rental data into advertised rents and those inquired about by potential tenants. The gap between the two has been growing significantly in some cities.Read more