On May 27th, the East Japan Real Estate Information Network (East Japan REINS) released findings of their FY 2023 Survey on Management and Repair Fund Fees for Existing Condominiums in the Greater Tokyo Area (GTA).
The GTA consists of Tokyo, Kanagawa, Saitama and Chiba prefectures.
REINS calculated existing condos reported sold by agents between April1st, 2023 and March 31st, 2024 (FY 2023).
Brand new condo sales are not on REINS at all ergo they weren’t included in the report at all.
The survey results indicated that the homeowner’s association (HOA) monthly management fees for existing condominiums in the GTA were an average 201 yen per square meter, an increase of 4 yen from the previous year.
On a per-unit basis, the average monthly management fee was 12,831 yen, up by 351 yen.
The average monthly repair fund fee (also known as the sinking fund fee) rose by 6 yen to 187 yen per square meter, with a per-unit average of 11,907 yen, an increase of 433 yen.
In total, the combined monthly management and repair reserve fees amounted to 388 yen per square meter, up 10 yen from the previous year, and 24,738 yen per unit, an increase of 784 yen.
Broken down by prefecture:
FY 2023 Average HOA Monthly Management Fee
Prefecture | Avg. Monthly Fee | Avg. Fee / SQM |
Tokyo | ¥13,888 | ¥232 |
Kanagawa | ¥12,073 | ¥181 |
Chiba | ¥11,194 | ¥155 |
Saitama | ¥10,919 | ¥159 |
FY 2023 Average HOA Repair Reserve Fee
Prefecture | Avg. Monthly Fee | Avg. Fee / SQM |
Tokyo | ¥11,708 | ¥196 |
Kanagawa | ¥12,328 | ¥185 |
Chiba | ¥12,226 | ¥169 |
Saitama | ¥11,665 | ¥170 |
The report also noted that, as buildings aged, a downward trend of HOA fees per unit and per square meter.
Conversely, the repair reserve fees per unit tended to rise to around 200 yen once a building exceeded 10 years of age.
Disclaimer
The above data is meant only for trend illustration purposes and does not guarantee in any way monthly HOA fees.
These fees vary greatly depending on common area services offered within the building and building age.
Always consult with a licensed realtor for your property specific needs.
Further Reading:
REINS FY 2023 Survey on Management and Repair Fund Fees for Existing Condominiums in the Greater Tokyo Area
Source:
R.E. Port News (Japanese only)
