Average apartment rent in January 2017
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,681 Yen/sqm in January 2017, down 1.4% from the previous month but up 4.4% from last year. The average apartment size was 60.24 sqm and the average building age was 20.3 years.
In the Tokyo metropolitan area, the average monthly rent was 3,186 Yen/sqm, down 0.4% from the previous month but up 1.9% from last year. The average apartment size was 58.03 sqm and the average building age was 18.4 years.
In Tokyo’s 23 wards, the average monthly rent was 3,330 Yen/sqm, down 0.7% from the previous month but up 1.5% from last year. This was the first time in 3 months to see a decrease, although prices have remained fairly constant around the 3,300 Yen/sqm range since August 2016. The average apartment size was 57.65 sqm and the average building age was 17.8 years.
Average apartment rent in December 2016
According to Tokyo Kantei, the average monthly rent of a condominium-type apartment in greater Tokyo was 2,720 Yen/sqm in December 2016, down 0.7% from the previous month but up 3.5% from December 2015. The average apartment size was 59.84 sqm and the average building age was 20.2 years.
In the Tokyo metropolitan area, the average monthly rent was 3,198 Yen/sqm, down 0.4% from the previous month but up 1.0% from 2015. The average apartment size was 57.69 sqm and the average building age was 18.2 years.
In Tokyo’s 23 wards, the average monthly rent was 3,353 Yen/sqm, up 0.1% from the previous month and up 1.3% from last year. The average apartment size was 57.02 sqm and the average building age was 17.7 years.
Rents in Yokohama, Kobe and Nagoya are all down around 1% from 12 months prior.
The residential vacancy rate situation in Tokyo
According to the Statistics Bureau and the Tokyo Shimbun, the number of towns, cities and wards within the greater Tokyo area with vacancy rates below 10% has halved in the 10 years since 2003. In 2013, there were 56 districts with vacancy rates below 10% and 65 districts with vacancy rates over 15%.
Growing vacancy rates are caused by a variety of factors, including decline population in regional areas, an increase in the supply of housing, as well as an increase in the number of abandoned or uninhabitable homes that are left to rot instead of being demolished.
Highest vacancy rates
| TOKYO METROPOLITAN AREA | |
|---|---|
| [1] Toshima-ku | 15.8% |
| [2] Ota-ku | 14.8% |
| [3] Musashino City | 14.1% |
| [4] Nakano-ku | 13.7% |
| [5] Chiyoda-ku | 13.3% |
| GREATER TOKYO AREA | |
| [1] Nasu Town, Tochigi | 50.5% |
| [2] Katsuura City, Chiba | 36.8% |
| [3] Yugawara Town, Kanagawa | 33.4% |
| [4] Isumi City, Chiba | 28.6% |
| [5] Kamogawa City, Chiba | 26.3% |
Beware of relying on this data
Investors should not rely on this data as it is far from accurate for the rental market.Read more
Average apartment rent in November 2016
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.Read more
Average apartment rent in October 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,697 Yen/sqm in October, up 1.3% from the previous month and up 0.6% from last year. The average apartment size was 59.29 sqm and the average building age was 20.1 years. In October, apartments in the Tokyo metropolitan area accounted for 66.5% of all listings across greater Tokyo, up from a 60.7% share in September. This contributed to the increase in rent from the previous month as prices in the Tokyo area are higher than surrounding prefectures.
In the Tokyo metropolitan area the average monthly rent was 3,153 Yen/sqm, down 2.4% from the previous month and down 1.0% from last year. The average apartment size was 56.99 sqm and the average building age was 18.4 years.Read more
Average apartment rent in September 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,663 Yen/sqm in September, up 0.1% from the previous month and up 0.6% from last year. The average apartment size was 60.05 sqm and the average building age was 20.0 years.
In the Tokyo metropolitan area, the average monthly rent was 3,230 Yen/sqm, up 0.2% from the previous month and up 1.5% from last year. The average apartment size was 57.39 sqm and the average building age was 18.0 years.Read more