The Japan Real Estate Institute announced the survey results of the "Housing Market Index 1st Half of 2021" on September 15th. 

Rents and prices were tabulated and analyzed from data of new and second hand condominiums  (built within the past 10 years) in the 23 wards of Tokyo provided by At Home Co., Ltd. and Ken Corporation.

The report classified units as follows: large in size  is 80 square metres or more, standard in size is between 40 to 80 square metres, and small in size is up to 40 square metres.  

Sizing and data analysis applied to both rent and sales condos for the first half of 2021 compared to the previous term of 2020, broken into two geographic categories; the central five ward of Tokyo and the whole 23 ward average. 

For the central 5 wards of Tokyo, meaning Minato, Shibuya, Shinjuku, Chuo and Chiyoda, the brand new condo rent per square meter is 6,804 yen for large units (up 3.4% from the previous year), 4,998 yen for standard (up 1.4%), and 4,566 yen for small sized condos (up 0.1%).

Large, second hand condos in the same 5 wards averaged out to 6,083 yen avg rent per sqm (up 3.4% from previous year), standard sizing at 4,580 yen avg rent per sqm  (up 1.3%), and small at 4,297 yen avg rent per sqm  (no change). 

For all 23 wards, new construction rents were 5,826 yen avg rent per sqm (up 2.8% year-on-year), standard 3,634 yen avg rent per sqm (up 2.0%), and small sized condos were 3,847 yen avg rent per sqm (up 0.5%). 

The second hand condos for all 23 wards came as follows: large at 5,219 yen avg rent per sqm (up 2.7% year on year), standard sizes at 3,364 yen avg rent / sqm (up 2.0%), and small sized condos at 3,628 yen avg rent / sqm (up 0.4%). 

Regarding sales data for the central 5 wards, the avg price of large condos per sqm is 2,167,000 yen for new construction (up 7.6% year-on-year), 1,617,000 yen avg price per sqm for standard sizes (down 0.1%), and 1,522,000 yen avg price per sqm for small sized condos (up 7.6% year-on-year). 

The second hand prices came in at 1,626,000 yen avg price per sqm (down 1.3% year-on-year), the standard sizing was 1,251,000 yen avg price per sqm (up 2.5%), and the small sized condos was 1,248,000 yen avg price per sqm (up 9.6% year-on-year). 

For all 23 wards of Tokyo, new construction is 1,944,000 yen avg price per sqm (up 8.1% year-on-year), standard at 1,174,000 yen avg price per sqm (up 3.1%), and small sizes at 1,298,000 yen avg price per sqm (up 7.1%). 

The second hand prices were 1,117,000 yen avg price per sqm (up 9.2%) for large condos, 887,000 yen avg price per sqm (up 4.2%) for standard sizes, and 981,000 yen avg price per sqm (up 6.1%) for smaller sized condos. 

Further Reading:

Ken Corporation’s Summary of the Report (September, 2021; Japanese only)

Ken Corporation’s Application for Whole Report Access (September 2021; Japanese only)