Tokyo Condos Rental Price on Rise
A good news for a home owner in the central Tokyo – statistics shows that the central Tokyo condos average rental price has bottomed out in 2013 and it witnessed a gradual growth in 2014.
Rental income and occupancy rate of J-REIT-owned condominium was analyzed by Urban Research Institute Corporation, a real estate think tank arm owned by Mizuho Bank.
Related: Japan Apartment Rent Prices Index For 2014Q4
Rental income of non-central Tokyo and other major cities of Japan has been declining for the last 8 years. However, the central Tokyo’s (Chiyoda ward, Chuo ward, Minato ward, Shinjuku ward, and Shibuya ward) figure bottomed out in 2013, and H1 of 2014 saw a slight increase of the rent.
Blue: Non-central Tokyo / Purple: Central Tokyo / Black: Major cities in Japan (a city with a population greater than 500,000)
Left axis: Rental price per tsubo (1 tsubo = 3.3 SQM) for non-central Tokyo and major cities in Japan
Right axis: Rental price per tsubo (1 tsubo = 3.3 SQM) for central Tokyo
Urban Research Institute Corporation