Apartment rents reach 7 year low in Tokyo

The average apartment rent across Japan's major cities has fallen even further. In July, the average rent for a condominium in Tokyo's 23-ku fell below 3,000 Yen/sqm a month for the first time in over seven years. The rent in rental-only buildings has also fallen.

According to Tokyo Kantei, the average rent for a condominium apartment in July was 2,995 Yen/sqm a month, down 1.8% from July 2011.Read more

by Zoe Ward

Tokyo is the most expensive city in the world to rent a 2-bedroom apartment

The 500.38sqm (5384 sqft) 1-bedroom penthouse in La Tour Daikanyama has an asking rent of 5,310,000 Yen/month and is the most expensive rental apartment in Tokyo.

According to a survey by ECA International, Tokyo is the most expensive city in the world to rent a 2-bedroom apartment, and the 2nd most expensive city in the world for 3-bedroom apartments.

Tokyo has also seen the biggest fall in rents in Asia. This continues the trend of year-on-year rental price decreases witnessed there since the onset of the global financial crisis in 2008.

Lee Quane, Regional Director of ECA International Asia explains that "assignee numbers in Tokyo are still lower than before the financial crisis". This means there is less demand for rental property in expatriate areas, and rents in those areas have steadily fallen since then, dropping almost 5% in Yen terms. Further falls in international assignee numbers following the tsunami and subsequent nuclear disaster have continued to contribute to this trend.Read more

by Zoe Ward

Average apartment rent in 2011

Tokyo Kantei announced the average apartment rent across Japan's three major metropolitan areas - Greater Tokyo, the Kinki region (Osaka, Kyoto, Nara) and the Chubu region (Aichi, Nagano, Shizuoka, etc). Tokyo and Chubu both saw a fall in the average rent, but the Kinki region saw an increase of 2.4% in 2011. Compared to the average rent of 1622 Yen/sqm/month in 2009, the rent in the Kinki region has increased by 6.5% over the past 2 years. This is said to be the result of an increase in newer apartments from 2010.Read more

by Zoe Ward

Tokyo apartment rent falls to lowest level in 4 years

According to Tokyo Kantei, the average rent for an apartment in greater Tokyo for the month of September fell 0.1% to 2578 Yen per square meter. In Tokyo's 23 wards, the average rent remained unchanged at 3,038 Yen/sqm, but is down 3.1% from September, 2010, and is currently at the lowest level seen in over 4 years. The average rent fell 0.2% in Kanagawa, 0.8% in Chiba and 2.6% in Saitama with Saitama City recording a fall of 4.2% from the month before. The aging apartment buildings in the City's Chuo and Urawa wards contributed to the decline.Read more

by Zoe Ward

Rent for condominium-type apartments down in June

According to Tokyo Kantei, the average monthly rent for a condominium-type apartment in greater Tokyo for the month of June has fallen compared to the previous month.

Average Rent:

  • Tokyo City: 2960 Yen/sqm, down 0.5%
  • Kanagawa: 2027 Yen/sqm, down 0.6%
  • Saitama: 1620 Yen/sqm, down 1.6%
  • Chiba: 1593 Yen/sqm, down 0.2%

Read more

by Zoe Ward