Low to moderate rental yields on Japanese residential property
Residential Valuation Specialist | November 22, 2022
Last Updated: Oct. 10, 2022 | |||
TOKYO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Central City | |||
Studio | $205,148 | $620 | 3.63% |
1-Bedroom | $377,251 | $1,129 | 3.59% |
2-Bedroom | $611,313 | $1,721 | 3.38% |
3-Bedroom | $764,141 | $2,272 | 3.57% |
4+Bedroom | $949,342 | $5,700 | 7.21% |
Eastern 23 Wards | |||
Studio | $156,614 | $475 | 3.64% |
1-Bedroom | $239,568 | $620 | 3.11% |
2-Bedroom | $295,330 | $826 | 3.36% |
3-Bedroom | $322,867 | $1,067 | 3.97% |
4+Bedroom | $364,172 | $1,466 | 4.83% |
Southern Part of the 23rd Ward | |||
Studio | $157,647 | $516 | 3.93% |
1-Bedroom | $264,351 | $833 | 3.78% |
2-Bedroom | $391,020 | $1,136 | 3.49% |
3-Bedroom | $480,514 | $1,583 | 3.95% |
4+Bedroom | $618,197 | $1,790 | 3.47% |
Wester Part of the 23rd Ward | |||
Studio | $132,520 | $451 | 4.08% |
1-Bedroom | $226,489 | $743 | 3.94% |
2-Bedroom | $337,255 | $895 | 3.18% |
3-Bedroom | $391,020 | $929 | 3.06% |
4+Bedroom | $453,666 | $1,442 | 3.81% |
Northern Part of the 23rd Ward | |||
Studio | $135,274 | $468 | 4.15% |
1-Bedroom | $224,768 | $688 | 3.67% |
2-Bedroom | $307,033 | $929 | 3.63% |
3-Bedroom | $342,831 | $1,139 | 3.99% |
Tokyo avg. Rental Yields | 3.85% | ||
OSAKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Kita-ku | |||
Studio | $108,433 | $412 | 4.56% |
1-Bedroom | $272,319 | $638 | 2.81% |
2-Bedroom | $363,046 | $906 | 2.99% |
3-Bedroom | $361,330 | $1,469 | 4.88% |
4+Bedroom | $338,340 | $1,141 | 4.05% |
Nishi-ku | |||
Studio | $108,433 | $416 | 4.60% |
1-Bedroom | $218,239 | $673 | 3.70% |
2-Bedroom | $215,426 | $878 | 4.89% |
3-Bedroom | $275,888 | $1,150 | 5.00% |
4+Bedroom | $294,966 | $1,510 | 6.14% |
Joto-ku | |||
Studio | $114,953 | $347 | 3.62% |
1-Bedroom | $157,846 | $467 | 3.55% |
2-Bedroom | $163,336 | $580 | 4.26% |
3-Bedroom | $205,818 | $666 | 3.88% |
4+Bedroom | $321,183 | $892 | 3.33% |
Chuo-ku | |||
Studio | $101,914 | $426 | 5.02% |
1-Bedroom | $220,298 | $686 | 3.74% |
2-Bedroom | $328,045 | $1,029 | 3.76% |
3-Bedroom | $341,771 | $1,259 | 4.42% |
4+Bedroom | $410,400 | $1,390 | 4.06% |
Yodogawa-ku | |||
Studio | $52,158 | $356 | 8.19% |
1-Bedroom | $110,835 | $500 | 5.41% |
2-Bedroom | $149,611 | $623 | 5.00% |
3-Bedroom | $185,160 | $773 | 5.01% |
4+Bedroom | $280,005 | $998 | 4.28% |
Tennoji-ku | |||
Studio | $123,186 | $383 | 3.73% |
1-Bedroom | $183,410 | $534 | 3.49% |
2-Bedroom | $225,156 | $753 | 4.01% |
3-Bedroom | $341,806 | $992 | 3.48% |
4+Bedroom | $531,751 | $1,232 | 2.78% |
Abeno-ku | |||
1-Bedroom | $173,144 | $479 | 3.32% |
2-Bedroom | $207,978 | $684 | 3.95% |
3-Bedroom | $251,846 | $743 | 3.54% |
Suminoe-ku | |||
1-Bedroom | $80,755 | $411 | 6.11% |
2-Bedroom | $132,082 | $482 | 4.38% |
3-Bedroom | $129,003 | $575 | 5.35% |
Osaka avg. Rental Yields | 4.31% | ||
NAGOYA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Naka-ku | |||
Studio | $94,442 | $400 | 5.08% |
1-Bedroom | $197,097 | $582 | 3.54% |
2-Bedroom | $293,592 | $784 | 3.20% |
3-Bedroom | $252,873 | $873 | 4.14% |
4+Bedroom | $266,149 | $821 | 3.70% |
Chikusa-ku | |||
Studio | $110,146 | $344 | 3.75% |
1-Bedroom | $144,911 | $482 | 3.99% |
2-Bedroom | $212,032 | $558 | 3.16% |
3-Bedroom | $218,916 | $757 | 4.15% |
4+Bedroom | $294,642 | $912 | 3.71% |
Higashi-ku | |||
Studio | $50,943 | $389 | 9.16% |
1-Bedroom | $218,916 | $541 | 2.97% |
2-Bedroom | $278,120 | $675 | 2.91% |
3-Bedroom | $274,333 | $826 | 3.61% |
4+Bedroom | $192,068 | $1,067 | 6.67% |
Showa-ku | |||
Studio | $75,492 | $316 | 5.02% |
1-Bedroom | $95,394 | $477 | 6.00% |
2-Bedroom | $194,219 | $549 | 3.39% |
3-Bedroom | $253,206 | $727 | 3.45% |
4+Bedroom | $249,809 | $888 | 4.27% |
Meito-ku | |||
1-Bedroom | $86,815 | $391 | 5.40% |
2-Bedroom | $119,071 | $446 | 4.49% |
3-Bedroom | $168,758 | $563 | 4.00% |
4+Bedroom | $204,514 | $658 | 3.89% |
Midori-ku | |||
1-Bedroom | $122,159 | $494 | 4.85% |
2-Bedroom | $108,433 | $576 | 6.37% |
3-Bedroom | $235,740 | $765 | 3.89% |
4+Bedroom | $239,171 | $995 | 4.99% |
Tenpaku-ku | |||
2-Bedroom | $88,461 | $432 | 5.86% |
3-Bedroom | $164,531 | $494 | 3.60% |
4+Bedroom | $187,937 | $707 | 4.51% |
Nagoya avg. Rental Yields | 4.54% | ||
YOKOHAMA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Minami-ku | |||
Studio | $82,021 | $390 | 5.71% |
1-Bedroom | $183,410 | $513 | 3.36% |
2-Bedroom | $183,410 | $602 | 3.94% |
3-Bedroom | $217,628 | $821 | 4.53% |
Naka-ku | |||
Studio | $103,193 | $447 | 5.20% |
1-Bedroom | $263,663 | $683 | 3.11% |
2-Bedroom | $346,927 | $1,033 | 3.57% |
3-Bedroom | $335,947 | $1,274 | 4.55% |
4+Bedroom | $534,898 | $3,132 | 7.03% |
Kanagawa-ku | |||
Studio | $67,068 | $383 | 6.85% |
1-Bedroom | $224,471 | $561 | 3.00% |
2-Bedroom | $256,637 | $739 | 3.46% |
3-Bedroom | $253,078 | $924 | 4.38% |
4+Bedroom | $245,002 | $1,355 | 6.64% |
Nishi-ku | |||
Studio | $143,032 | $424 | 3.56% |
1-Bedroom | $238,159 | $678 | 3.42% |
2-Bedroom | $320,282 | $1,061 | 3.98% |
3-Bedroom | $384,613 | $1,660 | 5.18% |
Yokohama avg. Rental Yields | 4.52% | ||
FUKUOKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
Studio | $66,227 | $329 | 5.96% |
1-Bedroom | $143,434 | $494 | 4.13% |
2-Bedroom | $177,748 | $755 | 5.10% |
3-Bedroom | $247,064 | $926 | 4.50% |
4+Bedroom | $290,643 | $1,235 | 5.10% |
Fukuoka (all locations) | |||
Studio | $65,197 | $281 | 5.17% |
1-Bedroom | $129,708 | $439 | 4.06% |
2-Bedroom | $164,023 | $460 | 3.37% |
3-Bedroom | $197,308 | $587 | 3.57% |
4+Bedroom | $231,965 | $916 | 4.74% |
Fukuoka avg. Rental Yields | 4.57% | ||
SAPPORO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
Studio | $32,256 | $261 | 9.71% |
1-Bedroom | $122,159 | $357 | 3.51% |
2-Bedroom | $166,768 | $480 | 3.45% |
3-Bedroom | $205,749 | $673 | 3.93% |
4+Bedroom | $238,828 | $1,043 | 5.24% |
Sapporo (all locations) | |||
Studio | $30,883 | $240 | 9.33% |
1-Bedroom | $108,433 | $316 | 3.50% |
2-Bedroom | $153,728 | $371 | 2.90% |
3-Bedroom | $170,886 | $480 | 3.37% |
4+Bedroom | $191,131 | $892 | 5.60% |
Sapporo avg. Rental Yields | 5.05% | ||
KOBE - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
Studio | $96,153 | $404 | 5.04% |
1-Bedroom | $187,516 | $561 | 3.59% |
2-Bedroom | $232,615 | $719 | 3.71% |
3-Bedroom | $282,642 | $924 | 3.92% |
Kobe (all locations) | |||
Studio | $87,599 | $342 | 4.68% |
1-Bedroom | $136,189 | $445 | 3.92% |
2-Bedroom | $168,696 | $513 | 3.65% |
3-Bedroom | $184,641 | $623 | 4.05% |
4+Bedroom | $204,625 | $821 | 4.81% |
Kobe avg. Rental Yields | 4.15% | ||
KAWASAKI - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
Studio | $143,032 | $438 | 3.67% |
1-Bedroom | $177,250 | $582 | 3.94% |
2-Bedroom | $245,345 | $739 | 3.61% |
3-Bedroom | $314,671 | $1,129 | 4.31% |
Kawasaki (all locations) | |||
Studio | $108,130 | $417 | 4.63% |
1-Bedroom | $194,667 | $589 | 3.63% |
2-Bedroom | $258,690 | $701 | 3.25% |
3-Bedroom | $300,094 | $917 | 3.67% |
4+Bedroom | $314,123 | $1,471 | 5.62% |
Kawasaki avg. Rental Yields | 4.04% | ||
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 Definitions: Data FAQ See also: Update Schedule |
Get updated rental yields data for 75 countries
In Tokyo´s central districts gross rental yields - the return earned on the purchase price of a rental property, before taxation, vacancy costs, and other costs - range from 3.06% to 7.21%. Mostly they´re a little higher on smaller apartments. Not great, though not untypical for a city like Tokyo.
Besides Tokyo, the rental yields remain similar or slightly higher in other cities and areas. Osaka´s rental yield on average is 4.31%, Nagoya´s rental yields average is 4.54%, In Yokohama, the average rental yield is 4.52%, Fukuoka area average is 4.57%, in Kobe you can expect on average of 4.15%, Kawasaki produces on average 4.04%, and Sapporo average rental yield is 5.05%.
Round trip transaction costs are moderate in Japan. See our Property transaction costs analysis for Japan and Property transaction costs in Japan, compared to the rest of Asia.
Japan - More data and information
- How expensive are houses in Japan, compared to the rest of Asia?
- Property prices in Japan. Graph of house price trends in Japan
- How much rent can be earned from Japanese property, compared to the rest of Asia?
- How much tax must foreign owners pay when they rent out their Japanese property?
- Where to by property in Japan