Gross rental yields in Japan: Tokyo and 7 other cities
Average gross rental yields in Japan stands at 4.36% (Q1, 2024). Previously, in Q2, 2023 the average gross rental yield stood at 4.30%.
- Tokyo
- Osaka
- Nagoya
- Yokohama
- Fukuoka
- Sapporo
- Kobe
- Kawasaki
Last Updated: Jan 24, 2024 | |||
TOKYO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Central City | |||
Studio | $221,539 | $635 | 3.44% |
1-Bedroom | $403,904 | $1,216 | 3.61% |
2-Bedroom | $653,811 | $1,925 | 3.53% |
3-Bedroom | $844,281 | $2,567 | 3.65% |
4+Bedroom | $915,200 | $3,883 | 5.09% |
Eastern 23 Wards | |||
Studio | $160,751 | $472 | 3.52% |
1-Bedroom | $221,539 | $642 | 3.48% |
2-Bedroom | $282,327 | $939 | 3.99% |
3-Bedroom | $309,345 | $1,148 | 4.45% |
4+Bedroom | $376,887 | $1,689 | 5.38% |
Southern Part of the 23rd Ward | |||
Studio | $155,212 | $507 | 3.92% |
1-Bedroom | $260,714 | $845 | 3.89% |
2-Bedroom | $371,483 | $1,386 | 4.48% |
3-Bedroom | $472,026 | $1,731 | 4.40% |
4+Bedroom | $623,450 | $1,935 | 3.72% |
Wester Part of the 23rd Ward | |||
Studio | $133,898 | $446 | 4.00% |
1-Bedroom | $221,812 | $744 | 4.03% |
2-Bedroom | $323,250 | $994 | 3.69% |
3-Bedroom | $404,401 | $1,116 | 3.31% |
4+Bedroom | $465,264 | $1,523 | 3.93% |
Northern Part of the 23rd Ward | |||
Studio | $133,898 | $467 | 4.19% |
1-Bedroom | $221,811 | $710 | 3.84% |
2-Bedroom | $286,056 | $1,068 | 4.48% |
3-Bedroom | $355,710 | $1,251 | 4.22% |
Tokyo avg. Rental Yields | 4.02% | ||
OSAKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Kita-ku | |||
1-Bedroom | $276,765 | $664 | 2.88% |
2-Bedroom | $319,967 | $1,013 | 3.80% |
3-Bedroom | $295,666 | $1,620 | 6.57% |
Nishi-ku | |||
Studio | $120,156 | $412 | 4.11% |
1-Bedroom | $211,961 | $695 | 3.93% |
2-Bedroom | $266,640 | $898 | 4.04% |
3-Bedroom | $255,164 | $1,114 | 5.24% |
Joto-ku | |||
2-Bedroom | $161,873 | $594 | 4.40% |
3-Bedroom | $188,942 | $803 | 5.10% |
Chuo-ku | |||
Studio | $113,406 | $439 | 4.65% |
1-Bedroom | $249,088 | $749 | 3.61% |
2-Bedroom | $336,168 | $1,215 | 4.34% |
3-Bedroom | $336,168 | $1,586 | 5.66% |
Yodogawa-ku | |||
Studio | $52,652 | $358 | 8.16% |
1-Bedroom | $120,831 | $506 | 5.03% |
2-Bedroom | $154,583 | $608 | 4.72% |
3-Bedroom | $201,768 | $807 | 4.80% |
Tennoji-ku | |||
1-Bedroom | $208,248 | $574 | 3.31% |
2-Bedroom | $305,791 | $878 | 3.45% |
3-Bedroom | $392,061 | $1,337 | 4.09% |
Abeno-ku | |||
2-Bedroom | $276,090 | $776 | 3.37% |
3-Bedroom | $283,380 | $844 | 3.57% |
Suminoe-ku | |||
2-Bedroom | $130,889 | $503 | 4.61% |
3-Bedroom | $160,658 | $594 | 4.44% |
Osaka avg. Rental Yields | 4.50% | ||
NAGOYA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Naka-ku | |||
Studio | $105,495 | $399 | 4.54% |
1-Bedroom | $208,963 | $597 | 3.43% |
2-Bedroom | $265,430 | $801 | 3.62% |
3-Bedroom | $289,437 | $920 | 3.81% |
Chikusa-ku | |||
2-Bedroom | $154,862 | $595 | 4.61% |
3-Bedroom | $265,092 | $805 | 3.64% |
4+Bedroom | $269,826 | $879 | 3.91% |
Higashi-ku | |||
1-Bedroom | $187,322 | $561 | 3.59% |
2-Bedroom | $269,149 | $642 | 2.86% |
3-Bedroom | $255,624 | $845 | 3.97% |
Meito-ku | |||
2-Bedroom | $113,611 | $453 | 4.78% |
3-Bedroom | $162,233 | $555 | 4.11% |
Midori-ku | |||
2-Bedroom | $113,949 | $628 | 6.61% |
3-Bedroom | $239,225 | $777 | 3.90% |
Nagoya avg. Rental Yields | 4.20% | ||
YOKOHAMA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Minami-ku | |||
1-Bedroom | $174,159 | $527 | 3.63% |
2-Bedroom | $214,661 | $675 | 3.77% |
Naka-ku | |||
Studio | $131,632 | $439 | 4.00% |
1-Bedroom | $261,914 | $722 | 3.31% |
2-Bedroom | $349,669 | $1,077 | 3.70% |
Kanagawa-ku | |||
1-Bedroom | $195,085 | $574 | 3.53% |
2-Bedroom | $209,126 | $776 | 4.45% |
3-Bedroom | $269,339 | $1,313 | 5.85% |
Nishi-ku | |||
Studio | $114,081 | $425 | 4.47% |
1-Bedroom | $260,901 | $702 | 3.23% |
2-Bedroom | $322,667 | $989 | 3.68% |
Yokohama avg. Rental Yields | 3.97% | ||
FUKUOKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
1-Bedroom | $167,464 | $506 | 3.63% |
2-Bedroom | $181,645 | $864 | 5.71% |
3-Bedroom | $249,711 | $1,033 | 4.96% |
4+Bedroom | $349,785 | $1,276 | 4.38% |
Fukuoka (all locations) | |||
Studio | $60,773 | $290 | 5.73% |
1-Bedroom | $147,207 | $459 | 3.74% |
2-Bedroom | $167,464 | $527 | 3.78% |
3-Bedroom | $201,227 | $642 | 3.83% |
4+Bedroom | $228,238 | $878 | 4.62% |
Fukuoka avg. Rental Yields | 4.34% | ||
SAPPORO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
1-Bedroom | $103,990 | $372 | 4.29% |
2-Bedroom | $182,860 | $527 | 3.46% |
3-Bedroom | $224,456 | $844 | 4.51% |
4+Bedroom | $248,495 | $1,010 | 4.88% |
Sapporo (all locations) | |||
Studio | $29,711 | $236 | 9.53% |
1-Bedroom | $80,356 | $324 | 4.84% |
2-Bedroom | $133,701 | $378 | 3.39% |
3-Bedroom | $161,049 | $506 | 3.77% |
4+Bedroom | $168,443 | $878 | 6.25% |
Sapporo avg. Rental Yields | 5.56% | ||
KOBE - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
1-Bedroom | $171,121 | $574 | 4.03% |
2-Bedroom | $309,166 | $743 | 2.88% |
3-Bedroom | $292,291 | $979 | 4.02% |
Kobe (all locations) | |||
Studio | $58,390 | $338 | 6.95% |
1-Bedroom | $153,908 | $446 | 3.48% |
2-Bedroom | $167,409 | $513 | 3.68% |
3-Bedroom | $187,660 | $624 | 3.99% |
4+Bedroom | $187,660 | $905 | 5.79% |
Kobe avg. Rental Yields | 4.78% | ||
KAWASAKI - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
2-Bedroom | $261,914 | $780 | 3.57% |
3-Bedroom | $283,380 | $1,056 | 4.47% |
Kawasaki (all locations) | |||
Studio | $133,657 | $412 | 3.70% |
1-Bedroom | $222,053 | $581 | 3.14% |
2-Bedroom | $235,520 | $709 | 3.61% |
3-Bedroom | $302,416 | $911 | 3.61% |
4+Bedroom | $349,669 | $1,080 | 3.71% |
Kawasaki avg. Rental Yields | 3.55% | ||
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and U-Occino |
Japan´s Historic Rental Yield Data
Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Japan. We utilized the local real estate website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).
For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).