[At Home Survey] Rental Trends for "Fixed-Term Rental Properties" (Fiscal 2025)

At Home, a real estate information service provider, has released the results of a survey on asking rents for fixed-term rental properties in fiscal 2025 (April 2025 to March 2026), conducted in collaboration with At Home Lab. Data was registered and published for consumers via At Home’s real estate information network.

General Overview of the Tokyo Metropolitan Area - Average asking rents for fixed-term leases rose year-on-year for both condos and apartments. In the apartment segment, there was a significant increase in areas and size categories where fixed-term rents exceeded those of standard leases. - The share of fixed-term leases increased across all areas in fiscal 2025. This rise was particularly prominent among condo units in Tokyo's 23 wards across all size categories.

Expert Commentary (Junko Iwamae, Executive Officer, Data Marketing Department, At Home Lab) Fixed-term leases are increasing, with widespread adoption in central Tokyo and high-rent segments of the 23 wards. In Tokyo's 23 wards, the proportion of fixed-term rental condos is rising, especially for family-oriented units in central locations. For landlords, this is recognized as a contract form that facilitates smoother rent increases in the current high-rent market, in addition to the benefit of mitigating risks such as rent delinquency or long-term occupancy. However, fixed-term contracts present challenges in terms of operational burden and expertise required by management companies. Furthermore, since consumers willing to accept non-renewable contracts are limited, properties must have excellent locations or conditions to close deals, leading to a projected slow growth in the number of such properties.

Survey Overview - Target Areas: Tokyo metropolitan area (Tokyo 23 wards, Tokyo suburbs, Kanagawa, Saitama, Chiba), and for reference: Sapporo, Sendai, Nagoya, Kyoto, Osaka, Kobe, Hiroshima, and Fukuoka. - Data Source: Residential rental properties registered and published on the At Home website (unique entries only). - Definitions: - In this survey, "rent" is defined as the monthly amount paid by the tenant, including rent, management fees, and common service charges. - Commentary classifications: 30 sqm or less (single), 30-50 sqm (couples), 50-70 sqm (family), and over 70 sqm (large family).