On September 24th, AtHome and Sumitomo Mitsui Trust Research Institute published their joint apartment rental index for the second quarter of 2024 (April to June), showing an overall rise in rental prices across Japan’s major urban centers with few exceptions.
Overview of the Rental Index
The rental index, based on data collected from 12 regions across Japan, uses the first quarter of 2009 as the base at 100 points.
The changes in the index are categorized as follows:
Significant Decline: -5.00 points and greater
Decline: -4.99 to -0.51
Stable: -0.50 to +0.50
Rising: +0.51 to +4.99
Significant Rise: +5.00 and greater
Greater Tokyo Area Q2 2024 Rent Trends
The rental index for Greater Tokyo showed positive movement in most key areas.
Data courtesy of the report linked at the end of this article, translated by Patience Realty.
All areas except for Tokyo non-23 wards experienced a rise in rental prices, indicating continued demand in the core urban districts.
Zooming out to see historical movements from Q1 2009 to Q2 2024:
Data courtesy of the report linked at the end of this article, translated by Patience Realty.
Rental Trend Performance in Japan Major Regional Cities
Similar trends were observed in regional cities, with most areas seeing an increase in rental prices:
Data courtesy of the report linked at the end of this article, translated by Patience Realty.
While Fukuoka City saw a minor drop, other major regional cities experienced upward trends, highlighting strong rental demand across the country.
Further Reading:
Japan apartment rental index for the second quarter of 2024 (April to June)
Source:
R.E. Port News (Japanese only)
