Tokyo apartment rents slide for second month
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,624 Yen/sqm in November, down 2.1% from the previous month but up 2.5% from last year. The average apartment size was 59.76 sqm and the average building age was 19.6 years.
In the Tokyo metropolitan area, the average rent was 3,157 Yen/sqm, down 0.8% from the previous month but up 3.1% from last year. The average apartment size was 56.99 sqm and the average building age was 18.0 years.
In Tokyo’s 23 wards, the average rent was 3,306 Yen/sqm, down 0.3% from the previous month but up 3.3% from last year. The average apartment size was 56.26 sqm and the average building age was 17.5 years.
Residential rental growth slows in Tokyo
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,681 Yen/sqm in October, up 1.3% from the previous month and up 3.0% from last year. The increase is due to a larger share of transactions in the Tokyo metropolitan area, which is pulling up the average. The average apartment size was 59.65 sqm and the average building age was 19.2 years.
In the Tokyo metropolitan area, the average rent was 3,184 Yen/sqm, up 0.1% from the previous month and up 2.7% from last year. The average apartment size was 57.08 sqm and the average building age was 17.4 years.
In Tokyo’s 23 wards, the average rent was 3,317 Yen/sqm, down 0.3% from the previous month but up 2.6% from last year. The average apartment size was 56.49 sqm and the average building age was 17.0 years.Read more
Tokyo residential rents continue slow rise
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,647 Yen/sqm in September, up 2.2% from the previous month and up 2.8% from last year. The leading cause of the increase in the rent was due to a large share (60%) of properties located in the Tokyo metropolitan area. The average apartment size was 60.27 sqm and the average building age was 19.0 years.
In the Tokyo metropolitan area, the average rent was 3,182 Yen/sqm, up 0.2% from the previous month and up 3.2% from last year. The average apartment size was 57.51 sqm and the average building age was 17.3 years.
In Tokyo’s 23 wards, the average rent was 3,326 Yen/sqm, up 0.4% from the previous month and up 3.7% from last year. The average apartment size was 56.93 sqm and the average building age was 16.7 years.
Average rents in Saitama, Osaka, Kobe and Nagoya were all down from last year.
Residential yields in Minato-ku - October 2015
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in October was 4.5%, down 0.1 points from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.5%, showing no change from the previous month and down 0.4 points from last year.
The average asking price of a second-hand apartment in Minato-ku was 871,257 Yen/sqm as of October 1, 2015, down 0.4% from the previous month but up 9.3% from last year. The average asking price for land was 1,269,090 Yen/sqm, up 2.6% from the previous month but down 0.7% from last year.Read more
Owners association wins lawsuit against sharehouse operator
The owner of a share house that has been operating out of a condominium building in Arakawa-ku, Tokyo, has been ordered by the Tokyo District Court to remove the interior partition walls that had been installed to create small share rooms.
The share house was a violation of the building’s management bylaws. The owners’ association filed a suit against the apartment owner, and the Tokyo District Court ruled in favour of the plaintiffs on September 18. The judge noted that the use of the apartment exceeded what was expected for a normal residential unit.Read more
Average rents up in Tokyo, down everywhere else
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,590 Yen/sqm in August, showing no change from the previous month but up 1.1% from last year. The average apartment size was 60.61 sqm and the average building age was 19.5 years.
In the Tokyo metropolitan area, the average rent was 3,177 Yen/sqm, up 1.0% from the previous month and up 4.5% from last year. The average apartment size was 57.68 sqm and the average building age was 17.5 years.
Average rents in Kanagawa, Saitama, greater Osaka, Hyogo and Aichi were down from last year.
In Tokyo’s 23 wards, the average rent was 3,314 Yen/sqm, up 1.0% from the previous month and up 4.7% from last year. The average apartment size was 57.13 sqm and the average building age was 17.0 years. Yokohama, Saitama City, Chiba City, Osaka City, Kobe City and Nagoya City all saw average rents fall from last year. Osaka City saw the biggest fall in rent with the average falling 5.5% from last year to 2,040 Yen/sqm.Read more