Gross rental yields in Japan: Tokyo and 7 other cities
Average gross rental yields in Japan stands at 4.33% (Q2, 2024). Previously, in Q1, 2024 the average gross rental yield stood at 4.36%.
- Tokyo
- Osaka
- Nagoya
- Yokohama
- Fukuoka
- Sapporo
- Kobe
- Kawasaki
| Last Updated: June 11, 2024 | |||
| TOKYO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Central City | |||
| Studio | $197,496 | $637 | 3.87% |
| 1-Bedroom | $393,718 | $1,070 | 3.26% |
| 2-Bedroom | $699,519 | $1,816 | 3.12% |
| 3-Bedroom | $890,644 | $2,453 | 3.31% |
| 4+Bedroom | $1,006,593 | $4,969 | 5.92% |
| Eastern 23 Wards | |||
| Studio | $149,714 | $465 | 3.73% |
| 1-Bedroom | $203,803 | $688 | 4.05% |
| 2-Bedroom | $257,382 | $937 | 4.37% |
| 3-Bedroom | $286,051 | $1,198 | 5.03% |
| 4+Bedroom | $343,070 | $1,593 | 5.57% |
| Southern Part of the 23rd Ward | |||
| Studio | $151,944 | $478 | 3.78% |
| 1-Bedroom | $253,559 | $847 | 4.01% |
| 2-Bedroom | $356,130 | $1,312 | 4.42% |
| 3-Bedroom | $444,685 | $1,593 | 4.30% |
| Wester Part of the 23rd Ward | |||
| Studio | $122,335 | $427 | 4.19% |
| 1-Bedroom | $221,733 | $733 | 3.97% |
| 2-Bedroom | $317,308 | $956 | 3.62% |
| 3-Bedroom | $392,812 | $1,115 | 3.41% |
| 4+Bedroom | $482,971 | $1,775 | 4.41% |
| Northern Part of the 23rd Ward | |||
| Studio | $130,619 | $446 | 4.10% |
| 1-Bedroom | $207,078 | $701 | 4.06% |
| 2-Bedroom | $279,078 | $1,083 | 4.66% |
| 3-Bedroom | $330,051 | $1,293 | 4.70% |
| Tokyo avg. Rental Yields | 4.17% | ||
| OSAKA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Kita-ku | |||
| 1-Bedroom | $310,960 | $664 | 2.56% |
| 2-Bedroom | $400,170 | $1,071 | 3.21% |
| 3-Bedroom | $317,335 | $1,472 | 5.57% |
| Nishi-ku | |||
| Studio | $113,425 | $401 | 4.24% |
| 1-Bedroom | $209,008 | $675 | 3.88% |
| 2-Bedroom | $240,550 | $937 | 4.67% |
| 3-Bedroom | $216,272 | $1,093 | 6.06% |
| Joto-ku | |||
| 2-Bedroom | $151,658 | $561 | 4.44% |
| 3-Bedroom | $177,147 | $701 | 4.75% |
| Chuo-ku | |||
| Studio | $108,964 | $424 | 4.67% |
| 1-Bedroom | $298,856 | $733 | 2.94% |
| 2-Bedroom | $381,057 | $1,179 | 3.71% |
| 3-Bedroom | $439,681 | $1,402 | 3.83% |
| Yodogawa-ku | |||
| Studio | $56,075 | $351 | 7.51% |
| 1-Bedroom | $113,425 | $500 | 5.29% |
| 2-Bedroom | $151,658 | $580 | 4.59% |
| 3-Bedroom | $189,891 | $831 | 5.25% |
| Tennoji-ku | |||
| 1-Bedroom | $196,263 | $605 | 3.70% |
| 2-Bedroom | $288,660 | $918 | 3.82% |
| 3-Bedroom | $378,444 | $1,195 | 3.79% |
| Abeno-ku | |||
| 2-Bedroom | $231,310 | $660 | 3.42% |
| 3-Bedroom | $272,730 | $854 | 3.76% |
| Osaka avg. Rental Yields | 4.35% | ||
| NAGOYA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Naka-ku | |||
| Studio | $89,203 | $375 | 5.04% |
| 1-Bedroom | $189,875 | $567 | 3.58% |
| 2-Bedroom | $266,335 | $765 | 3.45% |
| 3-Bedroom | $253,464 | $892 | 4.22% |
| Chikusa-ku | |||
| 2-Bedroom | $158,654 | $573 | 4.33% |
| 3-Bedroom | $253,592 | $809 | 3.83% |
| 4+Bedroom | $247,220 | $876 | 4.25% |
| Higashi-ku | |||
| 1-Bedroom | $197,521 | $542 | 3.29% |
| 2-Bedroom | $210,201 | $669 | 3.82% |
| 3-Bedroom | $235,751 | $733 | 3.73% |
| Meito-ku | |||
| 2-Bedroom | $136,353 | $427 | 3.76% |
| 3-Bedroom | $158,017 | $542 | 4.12% |
| Midori-ku | |||
| 2-Bedroom | $138,902 | $669 | 5.78% |
| 3-Bedroom | $201,344 | $742 | 4.42% |
| Nagoya avg. Rental Yields | 4.12% | ||
| YOKOHAMA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Minami-ku | |||
| Studio | $114,699 | $363 | 3.80% |
| 1-Bedroom | $168,194 | $490 | 3.50% |
| 2-Bedroom | $173,610 | $685 | 4.73% |
| Naka-ku | |||
| Studio | $130,630 | $440 | 4.04% |
| 1-Bedroom | $253,613 | $730 | 3.45% |
| 2-Bedroom | $317,335 | $1,179 | 4.46% |
| Nishi-ku | |||
| Studio | $107,690 | $389 | 4.33% |
| 1-Bedroom | $259,985 | $765 | 3.53% |
| 2-Bedroom | $293,057 | $1,354 | 5.54% |
| Kanagawa-ku | |||
| 1-Bedroom | $181,607 | $586 | 3.87% |
| 2-Bedroom | $247,560 | $777 | 3.77% |
| 3-Bedroom | $267,568 | $1,265 | 5.67% |
| Yokohama avg. Rental Yields | 4.23% | ||
| FUKUOKA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Center | |||
| 1-Bedroom | $205,121 | $503 | 2.94% |
| 2-Bedroom | $207,606 | $841 | 4.86% |
| 3-Bedroom | $235,643 | $1,083 | 5.52% |
| 4+Bedroom | $349,196 | $1,312 | 4.51% |
| Fukuoka (all locations) | |||
| Studio | $60,535 | $293 | 5.81% |
| 1-Bedroom | $143,374 | $440 | 3.68% |
| 2-Bedroom | $151,658 | $510 | 4.04% |
| 3-Bedroom | $184,156 | $688 | 4.48% |
| 4+Bedroom | $199,067 | $924 | 5.57% |
| Fukuoka avg. Rental Yields | 4.72% | ||
| SAPPORO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Center | |||
| 1-Bedroom | $107,371 | $350 | 3.91% |
| 2-Bedroom | $138,913 | $523 | 4.52% |
| 3-Bedroom | $209,008 | $765 | 4.39% |
| 4+Bedroom | $234,496 | $860 | 4.40% |
| Sapporo (all locations) | |||
| Studio | $40,041 | $223 | 6.68% |
| 1-Bedroom | $88,573 | $312 | 4.23% |
| 2-Bedroom | $120,434 | $376 | 3.75% |
| 3-Bedroom | $152,295 | $516 | 4.07% |
| 4+Bedroom | $182,882 | $787 | 5.16% |
| Sapporo avg. Rental Yields | 4.78% | ||
| KOBE - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Center | |||
| Studio | $99,125 | $376 | 4.55% |
| 1-Bedroom | $228,210 | $561 | 2.95% |
| 2-Bedroom | $254,346 | $905 | 4.27% |
| 3-Bedroom | $234,585 | $956 | 4.89% |
| Kobe (all locations) | |||
| Studio | $77,419 | $319 | 4.94% |
| 1-Bedroom | $135,778 | $414 | 3.66% |
| 2-Bedroom | $157,133 | $478 | 3.65% |
| 3-Bedroom | $175,938 | $567 | 3.87% |
| 4+Bedroom | $183,588 | $797 | 5.21% |
| Kobe avg. Rental Yields | 4.27% | ||
| KAWASAKI - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Center | |||
| 2-Bedroom | $242,171 | $765 | 3.79% |
| 3-Bedroom | $261,231 | $1,084 | 4.98% |
| Kawasaki (all locations) | |||
| Studio | $82,551 | $382 | 5.55% |
| 1-Bedroom | $209,724 | $567 | 3.24% |
| 2-Bedroom | $228,210 | $701 | 3.69% |
| 3-Bedroom | $280,418 | $956 | 4.09% |
| 4+Bedroom | $355,702 | $1,052 | 3.55% |
| Kawasaki avg. Rental Yields | 4.02% | ||
| 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).