July rental data – Tokyo Kantei

According to Tokyo Kantei, the average monthly rent of an apartment in greater Tokyo in July was 2,533 Yen/sqm, down 0.3% from last month but up 2.6% from July 2012. The average apartment size was 59.37 sqm (639 sqft) and the average age was 18.6 years.

The average rent in Tokyo’s 23-ku dropped 0.1% from last month to 3,097 Yen/sqm, but is still 3.4% higher than last year. The average apartment size was 55.98 sqm (602 sqft) and the average age was 17.1 years.

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Rents up across Japan

According to Tokyo Kantei, the average rent for a condominium apartment (one with a private landlord, rather than a rental-only building) increased in Japan’s three major regions in December.

The average monthly rent in greater Tokyo (Tokyo, Kanagawa, Saitama and Chiba) in December increased by 3.0% from the previous month to 2,540 Yen/sqm, although it remains 1.1% lower than December 2011.

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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.

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Tas Corp’s rental market data for August

TAS Corp, the company behind the “Tas-Map” real estate valuation site, released their latest data on the rental market for both the greater Tokyo and Kansai area for August 2012.

The data includes a vacancy rate index, average time an apartment is advertised before a tenant is found, average rate of lease renewals, rate of mid-way cancellations and a rent index.

This month’s report on the greater Tokyo area focused on the aging population in Saitama and the consequences this will have for landlords in the future.

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