Nagoya – Page 20 – JAPAN PROPERTY CENTRAL K.K.

Building age vs. distance from station - which has the biggest impact on rent?

According to data released by Tokyo Kantei, an apartment building’s age has a bigger influence on rent than the distance from the nearest train station.

The difference in rent between an apartment less than 3 years old and a 30-yr old apartment is about 30 ~ 40%. Meanwhile, the difference in rent between an apartment less than a 3 minute walk from the nearest station compared to one 11 ~ 15 minutes away is around 20%.Read more

by Zoe Ward

Secondhand apartment prices in June - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,630,000 Yen in June, down 0.3% from the previous month but up 4.8% from last year. This is the first time in 7 months that prices have fallen from the previous month, although they continue to remain above 2013 levels. The average apartment age was 22.0 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,570,000 Yen, down 0.1% from the previous month but up 7.7% from last year. The average apartment age was 22.0 years.

The average price across greater Tokyo was 28,310,000 Yen, down 0.4% from the previous month but up 2.2% from last year.Read more

by Zoe Ward

Office vacancy rates in June - Miki Shoji

According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.45% in June, down 0.07 points from the previous month and down 2.01 points from last year.

The vacancy rate in brand new buildings was 18.09%, down 2.33 points from the previous month but up 6.49 points from last year.

It is not just large-scale office buildings that are experiencing better conditions, but mid-size buildings are also seeing a boost in demand. All 11 buildings developed under Nomura’s mid-size office brand ‘Premium Midsize Office (PMO)’ are almost fully occupied. Mitsubishi’s renovated small-to-mid sized office building in Kanda is also almost fully occupied. The building has attracted several IT-related tenants who want the freedom to design their own office space. Read more

by Zoe Ward

June rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,609 Yen/sqm in June, down 0.5% from the previous month but up 2.7% from last year. All areas within greater Tokyo saw rents decline from the previous month.

The average apartment size was 59.37 sqm and the average building age was 18.7 years.

The average rent in Tokyo’s 23-ku was 3,174 Yen/sqm, down 0.7% from the previous month but up 2.4% from last year. The average apartment size was 56.38 sqm and the average building age was 16.9 years.Read more

by Zoe Ward

Secondhand apartment prices in May - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,740,000 Yen in May, up 0.6% from the previous month and up 5.4% from last year. The average apartment age was 21.7 years.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,600,000 Yen, up 0.6% from the previous month and up 9.3% from last year. This is the 10th month in a row to see a month-on-month increase. The average apartment age was 21.7 years.Read more

by Zoe Ward

Secondhand apartment prices in April - Tokyo Kantei

According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,500,000 Yen in April, up just 20,000 Yen from the previous month and up 5.4% from April 2013. Although the last three months saw month-on-month increases, the rate of growth has been shrinking and appears to have almost stopped. The average apartment age was 21.4 years, up 0.5 years from the previous month.

In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,250,000 Yen, up 0.1% from the previous month and up 8.8% from last year. This is the ninth month in a row to see a month-on-month increase, although the rate of growth also appears to have slowed considerably in April after seeing a 2.1% increase in February and a 0.7% increase in March. The average apartment age was 21.3 years, up 0.3 years from the previous month.Read more

by Zoe Ward

April rental data - Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,637 Yen/sqm in April, up 1.4% from the previous month and up 4.4% from April 2013. The average apartment size was 59.28 sqm and the average building age was 18.1 years.Read more

by Zoe Ward