Tokyo 23 wards hit record high average condo rent at 4,803 yen per square meter
- Adam German
- Jul 19
- 2 min read
Rental prices for family-type condominiums in the Greater Tokyo Area continued their steady climb in June 2025, marking the seventh consecutive month of increase, according to July 17th data released by real estate research firm Tokyo Kantei.
The data below is presented as averages to illustrate trends over time. Real estate is a hyper-local venture, so always consult a licensed realtor for your property-specific needs.
Greater Tokyo Overview: High-End Units Push Up Averages
Greater Tokyo saw a month-on-month increase of 1.3%, with average asking rents reaching ¥3,839 per square meter, the highest level in recent history.
The upward pressure was driven primarily by high-priced rental listings in central Tokyo, particularly in newer properties.
Over the past year, rents in the region have risen 4.6% on average.
Tokyo Prefecture: Central Districts Outpace the Rest
Chart provided by Tokyo Kantei report linked at the bottom of this article. Edited by Patience Realty.
In Tokyo Prefecture, average rents rose 2.2% month-on-month to ¥4,610 per sqm, a sharp increase that also marks seven straight months of gains.
Within the capital, the 23 special wards led the charge, with a 2.4% rise from the previous month to reach an all-time high of ¥4,803 per sqm.
Units built within the last five years showed especially strong rent growth due to the influence of luxury new-build listings, while even older properties saw modest gains.
Compared to June 2024, rents in the 23 wards have surged 10.8%, reflecting growing demand for central urban living amid limited supply.
Surrounding Prefectures: Mixed Trends
Chiba Prefecture posted a 0.9% increase, bringing average rents to ¥2,130 per sqm, its highest point in the past year.
Saitama Prefecture saw a slight 0.2% decline, falling to ¥2,207 per sqm, though this remains above April’s level.
Kanagawa Prefecture recorded a 1.6% decrease, dropping to ¥2,751 per sqm. The dip was partly due to a higher share of older rental properties entering the market.
Yokohama City, the largest city in the prefecture, also saw rents decline by 0.9%, settling at ¥2,963 per sqm.
City-Level Highlights
Chiba City saw a marginal 0.2% uptick to ¥2,037 per sqm, continuing a mild upward trend.
Saitama City recorded a 0.5% decrease to ¥2,754 per sqm, returning to levels last seen earlier in the year.
Context: Smaller, Newer Units Command a Premium
According to Tokyo Kantei, newer properties - particularly those less than five years old - are increasingly skewing rental averages upward in central Tokyo due to their high asking prices. However, even mid-age properties (6–10 years old) are showing signs of approaching a pricing ceiling.
Further Reading:
Tokyo Kantei Greater Tokyo Family Size Rent Trends June 2025 (Japanese only; goes into further granular detail than that outlined above)
Source:
Tokyo Kantei (Japanese only)
