Tokyo’s 23-ward condominium rental index reached 124.71 in the fourth quarter of 2024, marking a 2.59-point increase from the previous quarter, according to a March 21st report by At Home and Sumitomo Mitsui Trust Research Institute.
The index is based on rental data accumulated by At Home across 12 regions nationwide, using Q1 2009 as the 100-point baseline.
Changes of plus / minus 0.50 points indicate a stable trend, while shifts beyond this range reflect either rising or falling rental demand.
All numbers below reflect changes from the previous quarter, or 2024 third quarter.
Limited Scope Greater Tokyo Area (GTA) Q4 2024 Rental Index
Tokyo 23 Wards: 124.71 (+2.59)
Tokyo non-23 ward: 112.24 (+1.67)
Yokohama & Kawasaki: 117.88 (+0.28)
Western Chiba Prefecture: 119.61 (+2.62)
Southeastern Saitama Prefecture: 115.46 (-0.85)
“Limited Scope” means only the specific areas above within the GTA were measured for the report.
Zooming out the timeline in the same GTA for more context:
2009 Q1 = 100 | 2024 Q4 | 2024 Q3 | 2023 Q4 | 2022 Q4 |
Tokyo 23 Ward | 124.71 | 2.59 points UP | 7.19 points UP | 10.58 points UP |
Tokyo Non-23 Ward | 112.24 | 1.67 points UP | 3.36 points UP | 6.18 points UP |
Yokohama & Kawasaki | 117.88 | 0.28 points UP | 4.92 points UP | 7.62 points UP |
Western Chiba Pref. | 119.61 | 2.62 points UP | 6.11 points UP | 9.17 points UP |
South-Eastern Saitama Pref. | 115.46 | 0.85 points DOWN | 2.23 points UP | 4.44 points UP |
Data from Page 4 of the report PDF linked at the bottom of this article and translated by Patience Realty.
Regional Cities: Mixed Performance
Rental trends varied across regional cities, with Kyoto and Osaka posting gains, while other areas saw declines.
Sapporo: 123.43 (-0.36)
Sendai: 124.66 (-0.98)
Nagoya: 97.82 (-3.04)
Kyoto: 123.60 (+1.80)
Osaka: 135.93 (+0.95)
Greater Osaka Area: 116.63 (-3.21)
Fukuoka: 121.67 (-0.17)
Further reading:
2024 Q4 Condominium Rental Index Report (Japanese only; offers more granular data than that outlined above)
Sources:
R.E. Port News (Japanese only)
