{"id":1406,"date":"2019-01-25T11:22:39","date_gmt":"2019-01-25T11:22:39","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1406"},"modified":"2021-06-04T14:07:34","modified_gmt":"2021-06-04T07:07:34","slug":"tokyo-apartment-rents-continue-to-rise-in-q4-says-savills","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-apartment-rents-continue-to-rise-in-q4-says-savills\/","title":{"rendered":"Tokyo apartment rents continue to rise in Q4, says Savills"},"content":{"rendered":"<p><strong>City&#8217;s central five wards record rising premium over rest of the market<\/strong><\/p>\n<figure id=\"attachment_1407\" aria-describedby=\"caption-attachment-1407\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1407\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Tokyo-apartment-rents-continue-to-rise-in-Q4-says-Savills.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tokyo-apartment-rents-continue-to-rise-in-Q4-says-Savills.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tokyo-apartment-rents-continue-to-rise-in-Q4-says-Savills-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tokyo-apartment-rents-continue-to-rise-in-Q4-says-Savills-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1407\" class=\"wp-caption-text\">Mount Fuji looms behind the Tokyo skyline. Sakarin Sawasdinaka\/Shutterstock<\/figcaption><\/figure>\n<p>Apartment\u00a0rents\u00a0in Tokyo are on the steady move upwards, according to the latest Savills&#8217; Residential Leasing Briefing for Q4 2018.<\/p>\n<p>The Japanese capital features &#8220;solid fundamentals&#8221;, with all of the city&#8217;s submarkets experiencing some measure\u00a0of growth within the quarter.<\/p>\n<p>But it was the central 5 wards (C5W) showing the biggest growth in premium,\u00a0hitting a record of 19.1 percent over average rents in Tokyo\u2019s 23 wards \u2014 the third consecutive year of peaks.<\/p>\n<p>&#8220;Average rents are moving steadily upwards while C5W rents continue to stride ahead, widening their premium over the average as convenient locations prove the most popular,\u201d said Savills Japan\u2019s head of research and consultancy\u00a0Tetsuya Kaneko.<\/p>\n<p>Asking rents in C5W stood at JPY4,558 (USD41.51) per square metre or a year-on-year growth of 4 percent (0.7 percent over the quarter).<\/p>\n<p>In comparison, average mid-market asking rents in Tokyo\u2019s 23 wards (23W) stood at JPY3,823 per square metre, an increase of 1 percent quarter-on-quarter and 4 percent year-on-year.<\/p>\n<p>Apartments that had been completed within the last four to five years saw\u00a0strong appreciation\u00a0rates in rental prices, approximating those of more recently completed units.<\/p>\n<p>Co-living is on the rise among younger property seekers, although \u201cinterest may be held back\u201d as a result of Tokyo\u2019s &#8220;vast existing stock of compact living spaces and its reliable, well-connected public transit network&#8221;, the report stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>City&#8217;s central five wards record rising premium over rest of the market<\/p>\n","protected":false},"author":2,"featured_media":19816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-japan","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tokyo apartment rents continue to rise in Q4, says Savills | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/tokyo-apartment-rents-continue-to-rise-in-q4-says-savills\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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