Tokyo Apartment Rental Data

April 29, 2015

After the strong market recovery in 2013, Japanese apartment rental prices steadily rose in 2014. Housing is in high demand and and residential construction is the strongest it’s been in the last decade. Primarily, this is due to the “abenomics” or policies of the prime minister who came into in late 2012. These policies include increased public infrastructure spending and the devaluing of the Yen.

In the last year, existing condominium prices rose by 4.5%, new condominium prices dropped by 4.2%, and existing detached housing units rose by 2.4%.

The chart below from Tokyo Kantei explains that in September 2014, the average monthly rental price of an apartment in the greater Tokyo area was around 2575 Yen per square metre. In comparison to August 2014, this is a 0.5% increase, and in comparison to September 2013, a 1.2% increase. This is referring to an average apartment, with an approximate size of 60.01 square metres and the average building age was around 19.3 years old.

The average monthly rental price in September 2014 of an apartment in Tokyo’s 23 wards was 3207 Yen per square metre. In comparison to August 2014, this is a 1.3% increase, and in comparison to September 2013, a 3.6% increase. This is referring to an average apartment, with an approximate size of 57.02 square metres and the average building age was around 17.4 years old.

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