【Greater Tokyo】
Vacancy Rate: 9.0% (QoQ +0.4%)
Asking Rent: 4,700 JPY/Tsubo (QoQ -1.7%)
[Summary] The vacancy rate in Greater Tokyo has been continuously rising, while the asking rent have been declining for three consecutive quarters.

【Kansai Area】
Vacancy Rate: 3.6% (QoQ +-0%)
Asking Rent: 4,230JPY/Tsubo (QoQ +1.7%)
[Summary] The demand-supply balance in Kansai Area is stable, while the asking rent is rising slightly.

【Chukyo Area】
Vacancy Rate: 11.0% (QoQ -0.6%)
Asking Rent: 3,160JPY/Tsubo (QoQ -1.3%)
[Summary] The new supply in Chukyo Area in 2025 is expected to reach a record high, and the vacancy rate is expected to remain high.

【Kyushu Area】
Vacancy Rate: 3.2% (QoQ -0.3%)
Asking Rent: 3,300JPY/Tsubo (QoQ +0.6%)
[Summary] The vacancy rate in Kyushu Area is low, the rental market is strong, and rents remain stable.

【Outlook of the Price】
The results of the January 2025 survey on the outlook for real estate prices for the next six months are as follows: “Rise” is at 27.3%, “Flat” is at 61.3%, and “Decline” is at 11.4%. Compared with the last survey, the proportion of respondents who chose “Rise” and “Decline” increased, while the answer of “Flat” is still the majority.

【Outlook of the Rent】
The results of the January 2025 survey on the outlook for real estate rent for the next six months are as follows: “Rise” is at 35.2%, “Flat” is at 55.7%, and “Decline” is at 9.1%. The proportion of respondents who chose “Rise” has increased continuously three times since the January 2023 survey but declined in this survey.

【Outlook for Price】

The results of the July 2024’s survey of the outlook of real estate prices for the next six months are the following percentages:“Rise” is at 22.3%, “Flat” is at 70.3% and “Decline” is at 7.4%.

【Outlook for Rent】

The results of the July 2024’s survey of the outlook of rent for the next six months are the following percentages:“Rise” is at 41.5%, “Flat” is at 55.3% and “Decline” is at 3.2%.

【Greater Tokyo】

The vacancy rate has increased to 7.4% in April 2024. The asking rent has increased significantly to 4,860 JPY/Tsubo. Rising construction costs are being passed on to higher the asking rent.

【Kansai Area】

The vacancy rate has decreased to 2.9% in April 2024. The asking rent has decreased by 30 JPY/Tsubo to 4,210 JPY/Tsubo in this term.

【Greater Tokyo】

The vacancy rate has increased to 7.1% in January 2024. The asking rent has slight increased to 4,620 JPY/Tsubo. It has remained in around the 4,600 JPY/Tsubo range in the last two years.

【Kansai Area】

The vacancy rate has decreased to 3.0% in January 2024. The asking rent has increased to 4,240 JPY/Tsubo.

【Outlook for Price】

The results of the January 2024’s survey of the outlook of real estate prices for the next six months are the following percentages:“Rise” is at 26.0%, “Flat” is at 62.0% and “Decline” is at 12.0%.

【Outlook for Rent】

The results of the January 2024’s survey of the outlook of rent for the next six months are the following percentages:“Rise” is at 38.0%, “Flat” is at 53.0% and “Decline” is at 9.0%.

【Greater Tokyo】

The vacancy rate has increased to 6.4% in October 2023. The asking rent was increased to 4,600 JPY/Tsubo. It has remained in the 4,500-4,600 JPY/Tsubo range in 2023.

【Kansai Area】

The vacancy rate has increased to 3.7% in October 2023. The asking rent was increased to 4,230 JPY/Tsubo.

【Greater Tokyo】

The vacancy rate has increased to 6.2% in July 2023. The asking rent was decreased to 4,520 JPY/Tsubo. It has remained in the 4,500-4,700 JPY/Tsubo range since October 2021.

【Kansai Area】

The vacancy rate has decreased to 2.6% in July 2023. The asking rent was increased to 4,180 JPY/Tsubo.