Fixed-term residential lease rents rise across Greater Tokyo
- Adam German
- 4 hours ago
- 2 min read
AtHome, a real estate information service provider, announced on May 21st that fixed-term lease rents rose broadly across Greater Tokyo in fiscal 2025, with single-person units showing especially strong growth.
The report covered residential rental properties listed under fixed-term leases on AtHome’s real estate information network from April 2025 through March 2026.
Photo by Haim Charbit on Unsplash
In Japan, fixed-term leases expire at the end of the agreed contract period unless both parties agree to sign a new contract.
Unlike ordinary renewable leases, fixed-term leases give property owners greater control over future use of the property because tenants agree at the outset to vacate when the contract term ends.
This gives the owner more discretion over whether to offer the tenant a new lease term after the original contract expires.
While the owner received more control to recontract, renters were usually offered less-than-market rents to attract renters who otherwise would have ordinary lease options to choose from.
Since rents are rising in fixed-term leases, owners are becoming more confident in a rising rent environment.
The survey distinguishes between reinforced-concrete rental condominium units, and apartments, meaning wood-frame rental apartment buildings.
AtHome classified units by floor area as follows:
30 square meters or less: single-person units
Over 30 square meters to 50 square meters: couple-oriented units
Over 50 square meters to 70 square meters: family-oriented units
Over 70 square meters: large family-oriented units
Fixed-term rents rise for rental condominium units
In Greater Tokyo, covering the Tokyo 23 wards, Tokyo non-23 wards, Kanagawa, Saitama and Chiba, average asking rents for fixed-term rental condominium units rose from the previous fiscal year in nearly all areas and size categories. The only exception was family-oriented units in Kanagawa.
Single-person units saw particularly strong growth, with the Tokyo 23 wards, Kanagawa and Saitama all recording double-digit increases.
Large family-oriented units also rebounded. After falling year on year in three areas in fiscal 2024, rents in this category rose across all areas in fiscal 2025. Tokyo non-23 wards posted the sharpest increase, at 14.6 percent.
Fixed-term condominium listings increase
Fixed-term leases accounted for a larger share of rental condominium listings across all surveyed areas.
The Tokyo 23 wards had the highest share, at 9.2 percent, up 2.7 percentage points from the previous fiscal year and marking the fifth consecutive annual increase.
The share also rose to 6.5 percent in Kanagawa, 6.1 percent in Saitama, 5.4 percent in Tokyo non-23 wards and 4.4 percent in Chiba.
By floor-area segment, large family-oriented units had the highest fixed-term lease share in the Tokyo 23 wards, at 34.9 percent. Outside the 23 wards, single-person units recorded the largest year-on-year increase in fixed-term lease share.
Further Reading:
AtHome FY 2025 Fixed Term Lease Report (Japanese only; offers more information than that outlined above; drop into your favorite AI-bot for further details)
Source
R.E. Port News (Japanese only)
