On October 14, Tokyo Kantei Co., Ltd. released its monthly report on condominium rental trends across Japan’s three major metropolitan areas for October 2024. The data is calculated based on the asking rent per square meter for rental condominiums.
The average rent in the Tokyo metropolitan area was ¥3,567, a 0.3% decrease from the previous month. This marks the fourth consecutive month of decline, mainly due to a slowdown in newly constructed rental listings.
By prefecture, Tokyo saw its first decline in two months, falling to ¥4,132, a 0.9% year-on-year drop. Saitama Prefecture also declined for the first time in six months, reaching ¥2,251, down 1.7% year-on-year. Kanagawa Prefecture fell to ¥2,779, a 1.7% decrease, while Chiba Prefecture dropped to ¥1,979, down 1.2% year-on-year.
In the Kansai region, the average rent slightly decreased to ¥2,327, down 0.1% year-on-year, marking the first decline in two months. Osaka Prefecture experienced a minor drop to ¥2,705, down 0.1% year-on-year, despite a slight increase in the average building age. On the other hand, Hyogo Prefecture rose for the first time in two months to ¥1,807, up 0.3% year-on-year.
In the Chubu region, rents continued to rise. The regional average was ¥2,050, up 1.0% year-on-year, while Aichi Prefecture reached ¥2,105, up 0.7% year-on-year. Both areas recorded their fourth consecutive month of increases.
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. "R.E.port"
・ The copyright of the document belongs to the Real Estate Distribution Research Institute, Inc., which is the source of the document.
・ Please note that even if the user suffers any damage when using the service, Minami Aoyama Real Estate and Real Estate Distribution Research Institute Co., Ltd. will not be liable for any civil liability.
・The content of the news may be revised. For the latest information, please check the original article of Real Estate Distribution Research Institute Co., Ltd.
List of Contents