Tokyo Kantei Report: Yields on Newly-Built and Older Condominiums by Major Train Stations

Gross yield of newly-built and older condominiums by major Tokyo Metro subway stations

• Newly-built condominiums are defined as being less than 3 years old (from the construction completion date).
• 10-year-old condominiums are more than 9 years old and less than 11 years old.
• 30-year-old condominiums are over 29 years old and less than 31 years old.

Housing Japan’s Bryan Kipping commented, “Whilst the yields for older condominiums look attractive, it will be very difficult to obtain leverage from the banks. In addition, there are normally higher building management/repair fund fees which will reduce the total return on the investment unit”.

• On the Chiyoda Line, the 30-year average of 5.40% has been skewed by the obtainable yields in Adachi ward (Kita Ayase, Ayase stations).
• On the Tozai Line, the 10-year average of 4.53% is mainly from obtainable yields in both Kita ward and Edogawa ward.

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