In spite of the widespread coronavirus pandemic and a state of emergency disrupting schools and workplaces, the average advertised rent of a condominium-type apartment across greater Tokyo hit the highest level on record in 2020.
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Tokyo apartment rents slide for second month
According to Tokyo Kantei, the average monthly rent of a condominium in greater Tokyo was 2,624 Yen/sqm in November, down 2.1% from the previous month but up 2.5% from last year. The average apartment size was 59.76 sqm and the average building age was 19.6 years.
In the Tokyo metropolitan area, the average rent was 3,157 Yen/sqm, down 0.8% from the previous month but up 3.1% from last year. The average apartment size was 56.99 sqm and the average building age was 18.0 years.
In Tokyo’s 23 wards, the average rent was 3,306 Yen/sqm, down 0.3% from the previous month but up 3.3% from last year. The average apartment size was 56.26 sqm and the average building age was 17.5 years.
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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%.
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March rental data – Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,601 Yen/sqm in March, up 1.5% from the previous month and up 2.4% from March 2013. The average apartment size was 59.50 sqm and the average building age was 18.5 years.
The average rent in Tokyo’s 23-ku was 3,191 Yen/sqm, up 1.3% from the previous month and up 3.6% from last year. This is the fifth month in a row where the average rent has increased from the previous month. The average apartment size was 56.40 sqm and the average building age was 16.7 years.
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February rental data – Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in February was 2,563 Yen/sqm, down 0.4% from the previous month but up 1.1% from last year. The average apartment size was 59.31 sqm and the average building age was 19.0 years.
The average rent in Tokyo’s 23-ku was 3,149 Yen/sqm, up 0.1% from the previous month and up 2.6% from last year. The average apartment size was 56.23 sqm and the average building age was 17.5 years.
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TAS Corp’s rental market data for February
According to TAS Corp’s latest report on the rental market for apartments, the average vacancy rate in Tokyo’s 23-ku was 11.85% in February, up 0.15 points from the previous month and up 0.28 points from February 2013.
Apartments were advertised for an average of 3.02 months before finding a tenant.
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January rental data – Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo in January was 2,574 Yen/sqm, up 1.6% from January 2013 and up 2.4% from the previous month. The average apartment size was 58.86 sqm and the average building age was 19.0 years.
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December rental data – Tokyo Kantei
According to Tokyo Kantei, the average rent of a condominium apartment in greater Tokyo was 2,536 Yen/sqm in 2013. This is the first time in 4 years that the average annual rent has seen an increase.
In 2012, the average rent in Tokyo’s 23-ku was getting close to falling below 3,000 Yen/sqm, but by 2013 it began to climb upwards again. Rents in surrounding cities have remained relatively stable over the past few years. Osaka and Kobe City have seen an increase in new apartments hitting the market in 2012~2013, which has pulled up the average rent.
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November rental data – Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,552 Yen/sqm, in November, up 0.8% from the previous month and up 3.4% from last year. The average apartment size was 58.87 sqm (633 sqft) and the average building age was 19.0 years.
In Tokyo’s 23-ku, the average monthly rent was 3,111 Yen/sqm, up 1.0% from the previous month and up 4.2% from last year. This is the highest it has been since February 2011. The average apartment size was 55.70 sqm (599 sqft) and the average building age was 17.6 years.
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TAS Corp’s rental market data for September
According to TAS Corp’s latest report on the rental market for apartments, the average vacancy rate in Tokyo’s 23-ku was 11.56% in September, up 0.07 points from the previous month but down 0.08 points from September 2012.
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