日本情報クリエイト has published a monthly report using the CRIX indicator. The report presents rental market trends by area for Tokyo’s 23 wards, Kanagawa, Saitama and Chiba, and outlines changes in vacancy rates and rents.
日本情報クリエイト has published a Greater Tokyo rental market report using the CRIX indicator. It covers Tokyo’s 23 wards, Kanagawa Prefecture, Saitama Prefecture and Chiba Prefecture, and provides monthly data on changes in vacancy rates and rents in each area.
In Tokyo’s 23 wards, the vacancy rate for studio units of 0–20 m² worsened month on month, while vacancy rates for 20–30 m² and 30–50 m² also edged higher. By contrast, the vacancy rate for family-oriented units of 50 m² or more was broadly unchanged, while rents rose month on month except for units of 50 m² or more. The report suggests that a decline in net population inflows may contribute to a slowdown in the improvement of vacancy rates.
In Kawasaki, Kanagawa Prefecture, vacancy rates worsened month on month across all size bands but remained below 5%, indicating that occupancy is expected to remain near full. Rents for apartments overall were trending lower both month on month and year on year, and there is a view that the relocation of universities to central Tokyo could lead to rent reductions.
In Saitama City, Saitama Prefecture, vacancy rates for apartments improved except for 30–50 m² units aimed at couples. While the vacancy rate for family-oriented units of 50 m² or more remained high, rents have stayed at low levels since 2018, supporting the improvement in vacancy rates. Rents for condominiums of 30–50 m² and 50 m² or more were trending higher, while vacancy rates for 0–20 m² and 20–30 m² units improved significantly.
In western Chiba Prefecture, vacancy rates improved across all size bands for both apartments and condominiums. In particular, vacancy rates for studio units excluding those of 0–20 m² fell below 10%, while asking rents rose across all size bands, indicating that the market is recovering.