Residential yields in Minato-ku - September 2015

Tokyo Minato Yields Sep 15

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in September was 4.6%, down 0.1 points from the previous month and down 1 point from last year. The average gross yield across Tokyo was 6.5%, showing no change from the previous month and down 0.5 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 874,485 Yen/sqm as of September 1, 2015, up 0.6% from the previous month and up 8.7% from last year. The average asking price for land was 1,236,969 Yen/sqm, up 0.2% from the previous month but down 3.3% from last year.Read more

by Zoe Ward

Tokyo office rents to peak in 2017?

A vacancy rate of 5% is said to be the line between a landlord’s market and a tenant’s market. According to Miki Shoji, the vacancy rate in Tokyo’s central five business districts in July 2015 was 4.89%, down 0.23 points from June and down 1.31 points from last year. Shibuya-ku has the lowest vacancy rate of 2.27%, down 1.82 points from last year. CBRE reported that the all-grade vacancy rate in July 2015 was 3.3% in the 5 wards and 3.6% across the 23 wards. During the mini-bubble in 2007, the vacancy rate across all wards dropped to just 1.2%, while monthly rents reached a peak of 52,350 Yen/Tsubo (15,863 Yen/sqm).

Marunouchi remains the prime office location, and Marunouchi’s landlord - Mitsubishi Estate - is currently enjoying a vacancy rate of just 1.8%.

With renewed confidence in the economy, vacancy rates have again improved, while office rents have increased to a current average of 33,600 Yen/Tsubo (10,181 Yen/sqm), up from 29,050 Yen/Tsubo (8,803 Yen/sqm) seen during the market bottom.

Demand from companies seeking to rent entire floors is thought to be a driving force behind the rising rents. Companies are starting to group divisions and departments into one building or one floor, rather than having various smaller office locations.Read more

by Zoe Ward

July 2015 rental data - Tokyo Kantei

Japan apartment rent July 2015

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,590 Yen/sqm in July, down 1.0% from the previous month but up 1.3% from last year. Transactions in the Tokyo metropolitan area represented a smaller share of the total, which resulted in a decline in the monthly average. This is the first time in six months that the average has dropped below 2,600 Yen/sqm.  The average apartment size was 59.75 sqm and the average building age was 19.4 years.

In the Tokyo metropolitan area, the average rent was 3,145 Yen/sqm, up 1.1% from the previous month and up 3.1% from last year. The average apartment size was 56.70 sqm and the average building age was 17.7 years.Read more

by Zoe Ward

Residential yields in Minato-ku - August 2015

Tokyo apartment yield Aug 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in August was 4.7%, showing no change from the previous month and down 0.6 points from last year. The average gross yield across Tokyo was 6.5%, also showing no change from the previous month and down 0.5 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 868,857 Yen/sqm as of August 1, 2015, up 1.3% from the previous month and up 9.7% from last year. The average asking price for land was 1,234,848 Yen/sqm, up 0.7% from the previous month but down 3.3% from last year.Read more

by Zoe Ward

June 2015 rental data - Tokyo Kantei

Japan apartment rent June 2015

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,617 Yen/sqm in June, down 1.5% from the previous month but up 0.3% from last year. The drop in the monthly rent is considered to be caused by a smaller share of rental transactions in the Tokyo metropolitan area. The average apartment size was 59.50 sqm and the average building age was 19.0 years.

In the Tokyo metropolitan area, the average rent was 3,110 Yen/sqm, up 0.2% from the previous month and up 2.1% from last year. The average apartment size was 56.50 sqm and the average building age was 17.5 years.

In Tokyo’s 23 wards, the average rent was 3,239 Yen/sqm, up 0.3% from the previous month and up 2.0% from last year. The average apartment size was 55.90 sqm and the average building age was 17.0 years.Read more

by Zoe Ward

Residential yields in Minato-ku - July 2015

Tokyo apartment yield july 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in July was 4.7%, showing no change from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.5%, down 0.2 points from the previous month and down 0.6 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 857,785 Yen/sqm as of July 1, 2015, up 85 Yen from the previous month and up 9.1% from last year. The average asking price for land was 1,226,363 Yen/sqm, up 1.1% from the previous month but down 1.9% from last year.Read more

by Zoe Ward

May 2015 rental data - Tokyo Kantei

Apartment Rent Japan May 2015

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,656 Yen/sqm in May, up 2.1% from the previous month and up 1.3% from last year. The average apartment size was 59.08 sqm and the average building age was 18.7 years.

In the Tokyo metropolitan area, the average rent was 3,104 Yen/sqm, down 0.5% from the previous month but up 0.9% from last year. The average apartment size was 56.64 sqm and the average building age was 17.3 years.

In Tokyo’s 23 wards, the average rent was 3,229 Yen/sqm, down 0.3% from the previous month but up 1.0% from last year.

In Chiba City, the average rent has been in a downwards trend since the start of the year. The average rent in May was 1,439 Yen/sqm, down 0.3% from the previous month and down 9.6% from last year.Read more

by Zoe Ward