Greater Tokyo condo rents reach fresh 12-month high

Greater Tokyo condominium asking rents reached another 12-month high in July, with the regional average rising for a second consecutive month as Tokyo, Kanagawa and Saitama all moved higher.

Average advertised rent for condominium units offered for lease across Greater Tokyo rose 0.4% from June to ¥4,209 per square meter, according to Tokyo Kantei data released August 17. The figure was 9.1% higher than a year earlier.

Tokyo rose 0.5% month on month to an average of ¥4,963 per square meter, exceeding the previous 12-month high recorded in February.

Within the Tokyo 23 wards, average asking rent increased 0.8% to ¥5,157 per square meter, marking a second consecutive monthly rise. That was 6.3% above July 2025.

The data points to continued strength in Greater Tokyo asking rents, although changes in location, building age and the mix of available properties can materially affect monthly averages.

Kanagawa rises while Saitama’s jump reflects property mix

Kanagawa's average asking rent rose 0.8% in July to ¥2,892 per square meter, despite an increase in the average age of properties included in the data.

Chiba was the only Greater Tokyo prefecture to decline. Its average asking rent slipped 0.1% to ¥2,240 per square meter, although it remained 7.7% higher than a year earlier.

Saitama recorded a much larger 5.2% monthly increase, taking its average asking rent to ¥2,368 per square meter.

Tokyo Kantei said the jump was influenced by an increase in newer properties in Saitama City, where rent levels are relatively high. At the city level, Saitama City's average asking rent surged 9.6% to ¥3,091 per square meter.

Tokyo Kantei attributed that unusually large increase largely to numerous high-rent listings from new and recently built large-scale tower condominiums in Urawa Ward.

The Saitama result shows how changes in the properties entering the market can move average asking rents even without equivalent increases across comparable units.

Methodology

Tokyo Kantei's statistics measure advertised monthly asking rents, aggregated by administrative districts and converted to a per-square-meter rate. They do not represent rents agreed in completed lease contracts.

According to Tokyo Kantei, the dataset covers family-type condominium units and excludes homes smaller than 30 square meters as well as office and commercial properties.

Tokyo Kantei reported 49,813 Greater Tokyo rental observations in circulation over the most recent three months.

Further Reading:

Tokyo Kantei Market Reports (Japanese only)

Tokyo Kantei: July 2026 Condominium Asking Rent Report (Japanese only)

R.E. Port News (Japanese only)