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  • Writer's pictureAdam German

What Japanese renters want according to AtHome

On February 19th, Japan based property portal AtHome published their Ranking of Conditions and Facilities with Most Inquiries Report in the Second Half of 2023 - Rental Edition.


The survey was conducted via the internet targeting 522 nationwide real estate firms that list properties with AtHome for searching for rental residential properties from July to December of 2023. 


The survey period was from January 16th to 23rd, 2024.


AtHome is considered the go-to property portal for leasing needs.  This means if you own multi-family or any residential investment properties in Japan, your property manager is most likely advertising on this portal.  


As such, AtHome data gives industry professionals a good read on the overall health of the leasing market. 


According to agents, renters listed the following as the most important reasons for their move in the second half of 2023:


  1. Need to move due to job transfer at 33.1% (a decrease of 1.4 points compared to the previous survey in the first half of 2023) maintaining the top position from the first half of 2023. 

  2. Need to move closer to school or workplace at 33.0% (an increase of 3.8 points)

  3. Need to reduce monthly rent at 29.1% (a decrease of 3.5 points)


Spots 2 and 3 are often seen as job market health barometers as more people moving inwards means more people able to pay higher rents and thus a strengthening job market  


Vice versa, the more people looking to reduce rent could mean a potential softening of the job market.


Regarding needed facilities, "parking space" took top spot at 34.7% (an increase of 0.5 points). 


Comments from real estate companies indicated a growing demand for charging stations or outlets in parking lots for electric vehicles. 


The second place was "internet included in the rent" at 31.0% (an increase of 0.2 points), and the third place was “separate wash basin" at 28.2% (a decrease of 1.7 points).


Further Reading:

AtHome Ranking of Conditions and Facilities with Most Inquiries Report in the Second Half of 2023 - Rental Edition (Japanese only)

pro-ranking01-202402
.pdf
Download PDF • 353KB

Source:

R.E. Port News (Japanese only)


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