Everyone needs a place to live in. A large number of properties meant for leasing in Japan depend on factors like the prevailing market conditions, the market rate for rentals and the recurring demand for rented properties. Many people looking to invest in real estate in Japan prefer to go for residential properties now since the market instability in terms of rentals or vacant property is much less in comparison to the commercial property market.
Usually, the period between January-March is crucial for property owners and tenants in Japan. This is so, on account of the financial year closing in March which in turn makes it a lucrative time for the realtors to cash in a lot of deals.
This is also the period when new graduates and lateral professionals start new jobs in the new financial year, starting April, which affects the property demand in the first two months of the year. In addition, the whole process of renting an apartment which involves viewing a property, selecting one and then moving onto the signing of the lease is approximately a week, which hardly leaves any room for rent negotiation.
April to June sees many realtors working to fill in vacant properties that didn’t make it through till March end. This also takes into account the low demand during this period, which would mean unoccupied properties till the next active rental period. The average rent during off-season is lower than the rental during peak season. For the tenants, this can be beneficial, as owners and property management agents would be flexible to rent negotiations.
This may involve making certain incentives available. For instance, no security deposit, low rent or doing up the apartment to make it more appealing. July & August is essentially the summer months where property owners may find it very difficult to lease their apartments, which the tenants can find in their favor and call for good discounts on the rental price.
During Sep-Oct, the property market starts gearing up, where a considerable demand starts taking shape on account of many companies initiating inter-company transfers for their employees, also taking into account the fact that the real estate industry need to report their half yearly results at the end of September, hence calling for getting the maximum deals closed. Furthermore, new properties are prepared for the next peak season.
END OF THE YEAR
In preparation of the oncoming busy period, many real estate companies make their move to avoid competition, working their way through online advertisements and realtors.
KEYWORDS: moving season in Japan, the best time to move in Japan, apartment hunting in Japan