Tokyo, Japan Residential rental rates maintain an upward trajectory as demand continues to rise Property Trends Good to Know Sirva Tips The average monthly rent of a condominium-type Apartments sized between 30 square meters to 50 For corporate leases, 2 to 4 months’ rental Prioritize key requirements when searching for a unit. apartment in Tokyo’s 23 wards went up by 10.7% square meters went up by 6.6% and smaller sized deposit is required. For personal leases, compared to 2022. apartments of approximately 30 square meters 1 to 2 months’ rental deposit is required. Place a tentative application to secure “昀椀rst increased by 3.7%. Rents increased across all building age ranges with Key money is not needed for corporate applicant” status upon identifying a suitable property. the relatively new properties aged between 6-to-10 Family-type apartments of sizes between 50 square leases, but 1 to 2 months’ key money is Some landlords are charging key money (equal to years old and over 30 years old setting record required for personal leases (lower budget). meters to 70 square meters increased by 8.6%. 1 to 2 months’ rent) and offering 昀椀xed-term leases. highs. Due to limited supply, high-end luxury apartments Agent fee remains at 1 month’s rent and For those with children, identify and apply for schools The fourth quarter saw an unusually high amount are taken before they even reach the open market. 10% consumption tax. in advance to narrow down the search area for rental of activity as the high cost of purchasing properties Expatriates are facing stiff competition from locals Fire insurance is at 20,000 to 30,000 yen. properties. in Japan has spurred locals to turn to renting. who are looking to rent instead of purchasing a Options are very limited and what is available may Rents for more spacious family-type apartments in property as locals tend to negotiate less on rent Popular Locations not be viable in terms of the location, budget, or and rentals terms. Japan’s major cities reached record highs in Azabu Yoyogi condition of the property. It is critical to set the October. Longer stays at temporary accommodations are correct expectations to avoid disappointment. Roppongi Shoto Rents increased across all different apartment common as assignees wait for upcoming vacancies The contract process takes three to four weeks and or for renovation work to be completed. sizes, with the largest increase of 11.3% (since 2022) Toranomon properties can be held for up to one month. for bigger properties of over 70 square meters.