Rental Market Trends in the Tokyo Metropolitan Area: Latest Area Analysis Using the CRIX Index

Rental Market Trends in the Tokyo Metropolitan Area: Latest Area Analysis Using the CRIX Index

Nihon Joho Create Co., Ltd. has published a monthly report utilizing the CRIX index, a benchmark for the rental real estate market. This report provides a detailed analysis of market trends in Tokyo's 23 wards, Kanagawa, Saitama, and Chiba prefectures based on the latest data.

*Figures are based on company research. Published figures represent the latest data available.*

### ■ Growth in Rents for Small Single-Occupancy Units in Tokyo's 23 Wards is Slowing

#### 【Tokyo's 23 Wards】 In Tokyo's 23 wards, vacancy rates continue to improve across all floor area ranges for both apartments and condominiums. Growth in average apartment rents has slowed, except for units for couples (30–50㎡). Similarly, rent growth for small single-occupancy condominium units (0–20㎡) has slowed. This suggests that rental revisions and tenant turnover for units with poor conditions—such as those far from stations, older buildings, or small layouts—are not progressing.

#### 【Kanagawa Prefecture】 In Kawasaki City, vacancy rates continue to improve across all ranges. However, excluding apartments and condominiums over 50㎡ and condominiums between 20–30㎡, rents have declined month-on-month. In Yokohama City, vacancy rates continue to improve across all ranges. While rents for single-occupancy units (0–20㎡, 20–30㎡) are sluggish, rents for couples (30–50㎡) and families (over 50㎡) continue to rise, albeit below the inflation rate, indicating a shift from potential homebuyers priced out of the condominium market.

#### 【Saitama Prefecture】 In Saitama City, vacancy rates continue to improve across all ranges. While condominium rents (excluding 30–50㎡ units) have kept pace with inflation, apartment rent growth remains sluggish. Notably, rents for family units (over 50㎡) continue to fall, suggesting that properties with poor conditions are being avoided.

#### 【Chiba Prefecture】 In Western Chiba Prefecture, vacancy rates continue to improve across all ranges. However, rents for single-occupancy units (0–20㎡, 20–30㎡) remain on a downward trend. Rents for couple and family units are also soft, suggesting that properties with poor conditions may be lowering rents to fill vacancies.

### ■ About CRIX (Create Rental housing Index) CRIX is an index for rental prices and vacancy conditions calculated from vast amounts of rental property management data. It is characterized by data that reflects actual management conditions and covers all prefectures and major municipalities in Japan.