Average apartment rent in February 2016
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,528 Yen/sqm in February, down 1.5% from the previous month and down 3.7% from last year. The share of rental listings in the Tokyo metropolitan area dropped by 6 points from the previous month, which may have contributed to the lower rent. The average apartment size was 59.98 sqm and the average building age was 19.9 years.
In the Tokyo metropolitan area, the average rent was 3,161 Yen/sqm, up 1.1% from the previous month and up 3.0% from last year. The average apartment size was 56.33 sqm and the average building age was 17.7 years.
In Tokyo’s 23 wards, the average rent was 3,309 Yen/sqm, up 0.9% from the previous month and up 3.4% from last year. The average apartment size was 55.75 sqm and the average building age was 17.2 years.Read more
Tokyo apartment asking prices increase for 19th consecutive month
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in January 2016 was 33,370,000 Yen, up 2.1% from the previous month and up 15.1% from January 2015. The average building age was 22.1 years.
In the Tokyo metropolitan area, the average price was 46,420,000 Yen, up 0.4% from the previous month and up 17.4% from last year. This is the 19th month in a row to see a month-on-month increase. The average building age was 21.7 years.
In Tokyo’s 23 wards, the average price was 51,620,000 Yen, up 0.4% from the previous month and up 17.3% from last year. This is also the 19th consecutive month to see a month-on-month increase. The average building age was 21.7 years.Read more
Average rent in Tokyo takes a dip in January
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,567 Yen/sqm in January 2016, down 2.3% from the previous month but up 0.9% from January 2015. This is the first time in 5 months that the average rent has fallen below the 2,600 Yen/sqm line, and is due to both a smaller share of listings in the Tokyo metropolitan area, as well as a softening of the rental market. The average apartment size was 59.70 sqm and the average building age was 19.9 years.
In the Tokyo metropolitan area, the average monthly rent was 3,128 Yen/sqm, down 1.2% from the previous month but up 2.6% from last year. The average apartment size was 56.46 sqm and the average building age was 18.1 years.
In Tokyo’s 23 wards, the average rent was 3,280 Yen/sqm, down 0.9% from the previous month but up 3.1% from last year. The average apartment size was 55.79 sqm and the average building age was 17.5 years.Read more
Apartment construction boom around Nagoya Station area
The area around Nagoya Station has been seeing a surge in apartment construction from developers in recent years. The construction has been spurred by the the construction of the Chuo Shinkansen maglev line which will connect Shinagawa Station in Tokyo with Nagoya Station in Nagoya City in 2027. The high-speed rail will reduce the travel time between Tokyo and Nagoya from the current 94 minutes down to 40 minutes.
The station area, which has suffered from flood damage in the past, has not always been a desirable place to live, but the new construction is sparking a gentrification of the old neighbourhoods.Read more
Tokyo region’s net inflow of residents reaches 6-year high
According to the Ministry of Internal Affairs and Communications, the greater Tokyo area (Tokyo, Saitama, Chiba and Kanagawa) saw a net inflow of 119,357 residents in 2015. This is the 20th year in a row to see a net inflow, and is the highest level seen since 2009.
Only 8 of Japan’s 47 prefectures reported a net inflow, while areas such as Hokkaido (-8,862), Hyogo (-7,409), Niigata (-6,735), Aomori (-6,560), and Shizuoka (-6,206) saw more people moving out to other areas. Approximately 76% of Japan’s cities, towns and villages recorded net outflows in 2015, as more and more of the population move to larger cities.
Tokyo’s 23 wards saw a net inflow of 68,917 residents, up 7.7% from 2014.Read more
Tokyo apartment asking prices increase for 18th consecutive month
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sq.ft) second-hand apartment in greater Tokyo in December 2015 was 32,690,000 Yen, down 0.2% from the previous month but up 12.8% from the previous year. This ends a 15 month streak where prices were increasing on a month-by-month basis. The average building age was 22.1 years.
In the Tokyo metropolitan area, the average price was 46,230,000 Yen, up 1.6% from the previous month and up 17.1% from the previous year. This is the 18th consecutive month to record a month-on-month increase.
In Tokyo’s 23 wards, the average price was 51,430,000 Yen, up 1.6% from the previous month and up 17.4% from the previous year. This is also the 18th month in a row to see a month-on-month increase. The average building age was 21.6 years.Read more
December 2015 rental data and annual average
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,628 Yen/sqm in December 2015, up 0.2% from the previous month and up 2.6% from the previous year. The average apartment size was 59.84 sqm and the average building age was 19.7 years.
The average monthly rent in Tokyo’s 23 wards was 3,311 Yen/sqm, up 0.2% from the previous month and up 3.6% from the previous year. The average apartment size was 56.62 sqm and the average building age was 17.4 years.