Average Apartment Rents Stable

News

Average apartment rent trends for 3 major metropolitan areas in April was released by Tokyo Kantei Co., Ltd on May 14, 2020.  

The average rent in the Greater Tokyo Area is JPY 3,053 per sqm (MoM: +0.1%), increasing for the third consecutive month, albeit slightly. Sorting by prefectures the per sqm rental prices are as follows – Tokyo prefecture: JPY 3,666 (MoM: -0.1%), Kanagawa prefecture: JPY 2,313 (MoM: +1.1%), Chiba prefecture: JPY 1,639 (MoM: -2.1%). The increase of cases of relatively new apartments in Kanagawa, while the number decreased in Chiba, and these trends have remained steady.  

In the Kansai area, the average rent is JPY 1,966 per sqm (MoM: +3.1%). Sorting by prefectures the per sqm rental prices are as follows – Osaka prefecture: JPY 2,214 (MoM: +3.0%), Hyogo prefecture: JPY 1,682 (MoM: +0.2%). In the Chubu area, average rent per sqm is JPY 1,743 (MoM: -0.7%), and in the major city, Aichi prefecture, the average rent is JPY 1,784 (MoM: -0.8%).   

Chart prepared by Housing Japan. Data source: Tokyo Kantei 

News article source, in Japanese: https://www.re-port.net/article/news/0000062239/  (2020/05/14)

Author: Ryuta Hojo

Ryuta Hojo is in the Sales Division at Housing Japan. He speaks Japanese, English and Chinese and helps our clients to acquire an ideal home in Japan. He researches market trends and news thoroughly to be able to provide the most salient information and give the right advice acting on the buyer’s side.