Real estateAverage Rent Rising Nationwide According To The “At Home” Company

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First, a definition: “recruitment rent,” or (募集家賃, boshū yachin) is rent for a property currently on the market. Therefore, it excludes properties that are already being rented. For example, if there is a building with three units, and two of them have been renting out for years for ¥30,000 a month with tenants who plan to continue renting, and one of them is currently on the market, listed at the real estate agent’s office for ¥40,000, then the average recruitment rent in this situation is ¥40,000 a month.

The real estate information service “At Home Co., Ltd.” announced results on February 17 from the company’s real estate information network “Rental Condominiums And Apartments In Major Cities Throughout Japan (February 2020).” “Rent” refers to the “rent + management fee, common service fee, etc.” paid by the resident per month. The survey target is the Tokyo metropolitan area (Tokyo’s 23 wards, Tokyo Metropolis outside the 23 wards, Kanagawa, Chiba, and Saitama), as well as nine areas including Sendai, Nagoya, Osaka, and Fukuoka.

The average rent in Japan nationwide in February tends to be higher than the same month last year for condominiums and apartments nationwide. Among them, Tokyo’s 23 wards, Osaka City, and Fukuoka City performed well.

The average rent for condominiums in Tokyo’s 23 wards is ¥91,369 (up 1.3% month-on-month) for single-sized units (less than 30 m²), ¥132,526 yen (up 1.3%) for double-sized units (30-50 m²), and for all sizes, it is ¥189,446 (up 1.3%) for family-sized units (50-70 square meters) and ¥326,563 (up 0.7%) for large family-sized units (over 70 square meters). Especially for couples, it has been positive for 10 consecutive months. The average rent index, which was set at 100 in January 2015, continued to be positive, reaching a new high.

The average rent for apartments was ¥65,465 for single-sized units (up 1.3%), ¥97,607 for double-sized units (down 0.2%), and ¥127,101 for family-sized units (up 0.8%).

The average rent for condominiums in Osaka City has risen over the previous month and in the same month last year in all areas. Except for single-sized units, the year-on-year increase was more than 5%. The average rent for condominiums in Fukuoka has increased year-on-year in all areas. For single-sized units and couple-sized units, the rate of increase was the highest after Tokyo’s 23 wards.