top of page
Search

Tokyo 23 ward small-sized brand-new condo rent average hit record highs in 2024 2H

Writer: Adam GermanAdam German

The average rent for small-sized, brand-new condos in Tokyo’s central 5 & 23 wards reached a record high in the second half of 2024, according to a report from the Japan Real Estate Institute released March 13th.

Tokyo Central 5 ward and 23 ward Brand New Condo Average Rent Trend 2024 2nd Half

Chart courtesy of the Japan Real Estate Institute, edited by Patience Realty.


The condo sizes are defined as follows:


  • Small-sized condos = 40 square meters and less


  • Mid-sized condos = 40 to 80 square meters


  • Large-sized condos = 80 square meters and above


All percentages referred to below are changes compared to the 1st half of 2024.


Tokyo's "central 5 wards" refer to Chiyoda, Chuo, Minato, Shinjuku and Shibuya wards and are measured separately from the 23 ward because of their large impact on average rents due to high demand.


That said, the central 5 wards are also included in the 23 ward average rent calculations.


Tokyo Central 5 Ward Brand New Condo Rent Average


  • Small-sized condos: ¥4,875 per square meter (+0.7%) (Record High)


  • Mid-sized condos: ¥5,751 per square meter (-2.3%) 


  • Large-sized condos: ¥7,967 per square meter (-3.0%) 


Tokyo 23 Ward Brand New Condo Rent Average


  • Small-sized condos: ¥4,042 per square meter (+1.2%) (Record High) 


  • Mid-sized condos: ¥3,989 per square meter (+0.5%) (Record High)


  • Large-sized condos: ¥6,728 per square meter (-5.8%) 

 

The above information is presented to illustrate trends only and does not in any way guarantee rent levels.  Real estate is a hyper-local venture so always consult a licensed realtor for your property specific needs. 

 

Further Reading:

2024 2nd Half Japan Real Estate Institute Tokyo 23 Ward Rent & Price Trend Report (Japanese only)


Source:

R.E. Port News (Japanese only)

Working on Laptop

Get the latest intelligence direct to your inbox.

Thanks for subscribing!

Within a day, links to latest articles will be delivered to your inbox.

PAR Transparent Logo White.png

Your source for Japan's finest luxury properties.

  • LinkedIn

Marunouchi Mitsui Bldg. 6F 2-2-2 Marunouchi, Chiyoda-ku,
Tokyo, Japan 100-0005

License Number: Tokyo Metropolitan Governor (1) No. 108551

© 2025 Patience Realty

bottom of page