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  • Writer's pictureAdam German

Japan wide reinforced concrete multi-family buildings see sharp price rise in June 2024

On July 1st, Kenbiya released its June 2024 residential income property market trend report. 


Kenbiya is a Japan based property portal that solely advertises income producing properties.  Price and yield data is aggregated from properties listed on the Kenbiya site by subscribing real estate companies.   


The report analyzes the nationwide average prices and gross yields of newly listed residential income properties in three categories: strata-title condominiums, wood-frame whole buildings, and reinforced concrete multi-family buildings.  


Percentages shown below are Month-on-Month figures, in other words June data compared to May data. 


The below numbers are nationwide averages meant to illustrate trends. The data in no way offers any kind of price or yield guarantee.  Real estate investing is a hyper-local game so always consult a licensed real estate company for your property specific needs. 


June 2024 Japan Residential Income Property Report

Courtesy of Kenbiya, edited by Patience Realty. 


In June, the average price of strata-title condominiums remained steady at ¥20.3 million, showing no change from the previous month. However, the gross yield saw a decline of 0.19 percentage points, dropping to 6.74%, indicating possibly softening rents. 


Wood-frame whole buildings experienced a minor price decrease of 0.05%, bringing the average price to ¥78.57 million. In contrast, the gross yield increased slightly by 0.06 percentage points, reaching 8.13%, indicating steady rents in the face of slightly softening prices. 


Reinforced concrete multi-family buildings demonstrated a notable price increase of 5.75%, with the average price rising to ¥189.38 million. Despite this significant price surge, the gross yield decreased by only 0.20 percentage points to 7.55%, indicating rent rises in the shadow of faster rising prices. 


Further Reading: 

June 2024 Kenbiya Residential Income Property Report (Japanese only) 

pre2024-07-01
.pdf
Download PDF • 844KB

Source: 

R.E. Port News (Japanese only)  

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