Residential yields in Minato-ku - June 2015

Apartment yield Tokyo June 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in June 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 6.7%, up 0.1 points from the previous month but down 0.5 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 857,700 Yen/sqm as of June 1, down 1.4% from the previous month but up 8.2% from last year. The average asking price for land was 1,212,727 Yen/sqm, up 0.1% from the previous month and up 2.7% from last year.Read more

by Zoe Ward

Residential yields in Minato-ku - May 2015

Minato apartment yields May 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in May was 4.7%, down 0.1 points from the previous month and down 0.6 points from last year. The average gross yield across Tokyo was 6.6%, showing no change from the previous month but down 0.5 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 869,700 Yen/sqm as of May 1, down 1.1% from the previous month but up 9.8% from last year. The average asking price for land was 1,211,818 Yen/sqm, up 0.5% from the previous month and up 5.7% from last year.Read more

by Zoe Ward

March 2015 rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,613 Yen/sqm in March, down 0.5% from the previous month but up 0.5% from last year. The average apartment size was 59.77 sqm and the average building age was 18.8 years.

In the Tokyo metropolitan area, the average rent was 3,106 Yen/sqm, up 1.2% from the previous month and up 0.9% from last year. The average apartment size was 57.17 sqm and the average building age was 17.4 years.

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by Zoe Ward

Residential yields in Minato-ku - April 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in April was 4.8%, down 0.2 points from the previous month and down 0.6 points from last year. The average gross yield across Tokyo was 6.6%, showing no change from the previous month but down 0.6 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 878,943 Yen/sqm as of April 1, down 1.3% from the previous month but up 12.5% from last year. The average asking price for land was 1,206,363 Yen/sqm, down 3.2% from the previous month but up 6.4% from last year.Read more

by Zoe Ward

Why rental yields in Tokyo are falling

The average price of a brand new apartment in Tokyo’s 23 wards was approximately 908,000 Yen/sqm at the end of 2014, up 19.7% from early 2012. Meanwhile, the average rent of an apartment had only increased by 5.4% over the same period.

Home loan tax deductions, historically low interest rates and an anticipation of continued price growth have helped to boost the property market on the sale side. Renters, however, have had far fewer incentives. In 2014, real wages shrunk 2.5% from the previous year. Unless incomes start to rise, it is difficult to forecast sustainable growth in residential rents.

There have been a small number of exceptions, including the most prime locations in central Tokyo as well as the bayside area in Tokyo Bay. Rents in Toyosu, an area which is near the future Athlete’s Village for the 2020 Summer Olympics, are showing signs of upward movement. The rental market in central Tokyo, which caters to high-wealth tenants and expats, is also more likely to see an increase in rents.Read more

by Zoe Ward

February 2015 rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,626 Yen/sqm in February, up 3.2% from the previous month and up 2.5% from last year. The average apartment size was 59.54 sqm and the average building age was 19.0 years.

In Tokyo’s 23-ku, the average monthly rent was 3,201 Yen/sqm, up 0.7% from the previous month and up 1.7% from last year. The average apartment size was 56.58 sqm and the average building age was 17.2 years.Read more

by Zoe Ward

Residential yields in Minato-ku - March 2015

Minato Tokyo Yields Mar 2015

According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in March was 5.0%, down 0.2 points from the previous month and down 0.5 points from last year. The average gross yield across Tokyo was 6.6%, down 0.2 points from the previous month and down 0.7 points from last year.

The average asking price of a second-hand apartment in Minato-ku was 890,457 Yen/sqm as of March 1, up 0.7% from the previous month and up 14.2% from last year. The average asking price for land was 1,246,667 Yen/sqm, down 0.6% from the previous month but up 17.2% from last year.

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by Zoe Ward