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  • Writer's pictureAdam German

Rents and prices up, yields down in 2023 for Greater Tokyo condos

On January 16th and 17th, Kenbiya and Tokyo Kantei released two different reports on the respective dates; data of which were complementary in the review of 2023 for the Greater Tokyo Area’s real estate market.

The Greater Tokyo Area (GTA) includes Tokyo, Kanagawa, Saitama and Chiba prefectures.

The Tokyo Kantei report looked at GTA rents in 2023 and found that the annual average rental fee per square meter for condominiums was 3,512 yen; a 5.5% increase from the previous year (or Year-on-Year, abbreviated as YoY).

Tokyo Kantei is a data service provider serving the Japanese real estate industry.

Breaking the GTA down by constituent prefectures:


Avg. Rent / SQM in JPY

YoY % Change



8.0% up



2.9% up



6.9% up



5.7% up

Tokyo Kantei’s data dovetailed with Kenbiya’s data released on the 16th regarding prices and yields for all of 2023 in the GTA.

Kenbiya is a Japan based property portal focusing solely on advertising income property.  Their 2023 report has data sourced from listed properties and yields advertised by advertising agents on their portal.

For the same property type the Tokyo Kantei data focused on, the Kenbiya data for both price and yield trends are as follows:

Data courtesy of Kenbiya, translated by Patience Realty

For further information on sub markets like Sendai, Hiroshima and Fukuoka as well as Greater Osaka and Nagoya, download the PDFs below (Japanese only)

Tokyo Kantei Condo Rent Report for 2023 (Japanese only)

Tokyo Kantei 2023 Condo Rents
Download PDF • 488KB

Kenbiya 2023 Nationwide Price and Yield Trend Report (Japanese only)

Kenbiya 2023 Yield Summary
Download PDF • 1.58MB


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