Gross rental yields in Japan: Tokyo and 7 other cities
Average gross rental yields in Japan stands at 4.30% (Q2, 2023).
- Tokyo
- Osaka
- Nagoya
- Yokohama
- Fukuoka
- Sapporo
- Kobe
- Kawasaki
Last Updated: July 20, 2023 | |||
TOKYO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Central City | |||
Studio | $224,350 | $681 | 3.64% |
1-Bedroom | $393,509 | $1,269 | 3.87% |
2-Bedroom | $650,831 | $1,993 | 3.67% |
3-Bedroom | $867,297 | $2,853 | 3.95% |
4+Bedroom | $924,638 | $6,379 | 8.28% |
Eastern 23 Wards | |||
Studio | $169,159 | $502 | 3.56% |
1-Bedroom | $242,986 | $659 | 3.25% |
2-Bedroom | $301,045 | $932 | 3.72% |
3-Bedroom | $321,832 | $1,290 | 4.81% |
4+Bedroom | $358,244 | $1,706 | 5.71% |
Southern Part of the 23rd Ward | |||
Studio | $167,725 | $538 | 3.85% |
1-Bedroom | $285,276 | $896 | 3.77% |
2-Bedroom | $399,960 | $1,290 | 3.87% |
3-Bedroom | $489,915 | $1,778 | 4.36% |
4+Bedroom | $623,450 | $1,935 | 3.72% |
Wester Part of the 23rd Ward | |||
Studio | $138,337 | $473 | 4.10% |
1-Bedroom | $235,102 | $788 | 4.02% |
2-Bedroom | $335,450 | $975 | 3.49% |
3-Bedroom | $414,654 | $1,147 | 3.32% |
4+Bedroom | $535,430 | $1,756 | 3.94% |
Northern Part of the 23rd Ward | |||
Studio | $142,280 | $495 | 4.17% |
1-Bedroom | $213,599 | $731 | 4.11% |
2-Bedroom | $285,634 | $1,039 | 4.37% |
3-Bedroom | $358,315 | $1,290 | 4.32% |
Tokyo avg. Rental Yields | 4.16% | ||
OSAKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Kita-ku | |||
1-Bedroom | $285,276 | $717 | 3.02% |
2-Bedroom | $379,890 | $1,003 | 3.17% |
3-Bedroom | $381,324 | $1,434 | 4.51% |
Nishi-ku | |||
Studio | $118,268 | $439 | 4.45% |
1-Bedroom | $256,605 | $710 | 3.32% |
2-Bedroom | $356,953 | $964 | 3.24% |
3-Bedroom | $270,941 | $1,362 | 6.03% |
Joto-ku | |||
1-Bedroom | $170,592 | $489 | 3.44% |
2-Bedroom | $170,592 | $616 | 4.33% |
3-Bedroom | $199,263 | $774 | 4.66% |
Chuo-ku | |||
Studio | $115,556 | $464 | 4.82% |
1-Bedroom | $256,007 | $778 | 3.65% |
2-Bedroom | $376,628 | $1,177 | 3.75% |
3-Bedroom | $340,962 | $1,355 | 4.77% |
Yodogawa-ku | |||
Studio | $59,205 | $392 | 7.95% |
1-Bedroom | $108,601 | $549 | 6.07% |
2-Bedroom | $191,167 | $606 | 3.80% |
3-Bedroom | $227,546 | $856 | 4.51% |
Tennoji-ku | |||
Studio | $121,976 | $407 | 4.00% |
1-Bedroom | $209,642 | $592 | 3.39% |
2-Bedroom | $298,164 | $963 | 3.88% |
3-Bedroom | $356,584 | $1,070 | 3.60% |
Abeno-ku | |||
1-Bedroom | $206,860 | $535 | 3.10% |
2-Bedroom | $329,193 | $742 | 2.70% |
3-Bedroom | $323,843 | $1,034 | 3.83% |
Suminoe-ku | |||
1-Bedroom | $116,270 | $428 | 4.42% |
2-Bedroom | $155,502 | $535 | 4.13% |
3-Bedroom | $161,922 | $631 | 4.68% |
Osaka avg. Rental Yields | 4.19% | ||
NAGOYA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Naka-ku | |||
Studio | $111,100 | $416 | 4.49% |
1-Bedroom | $223,275 | $619 | 3.33% |
2-Bedroom | $299,612 | $860 | 3.44% |
3-Bedroom | $278,825 | $1,003 | 4.32% |
Chikusa-ku | |||
Studio | $84,579 | $373 | 5.29% |
1-Bedroom | $115,759 | $516 | 5.35% |
2-Bedroom | $206,789 | $631 | 3.66% |
3-Bedroom | $299,612 | $828 | 3.32% |
4+Bedroom | $287,785 | $1,075 | 4.48% |
Higashi-ku | |||
1-Bedroom | $221,483 | $552 | 2.99% |
2-Bedroom | $258,755 | $688 | 3.19% |
3-Bedroom | $270,941 | $874 | 3.87% |
4+Bedroom | $285,276 | $1,147 | 4.82% |
Meito-ku | |||
1-Bedroom | $164,141 | $430 | 3.14% |
2-Bedroom | $205,714 | $487 | 2.84% |
3-Bedroom | $170,592 | $609 | 4.28% |
4+Bedroom | $206,431 | $702 | 4.08% |
Midori-ku | |||
1-Bedroom | $134,754 | $444 | 3.95% |
2-Bedroom | $121,457 | $638 | 6.30% |
3-Bedroom | $236,535 | $824 | 4.18% |
Tenpaku-ku | |||
2-Bedroom | $99,273 | $466 | 5.63% |
3-Bedroom | $163,783 | $530 | 3.88% |
4+Bedroom | $193,099 | $717 | 4.46% |
Nagoya avg. Rental Yields | 4.20% | ||
YOKOHAMA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Minami-ku | |||
Studio | $98,437 | $414 | 5.05% |
1-Bedroom | $185,318 | $542 | 3.51% |
2-Bedroom | $227,546 | $713 | 3.76% |
3-Bedroom | $266,065 | $959 | 4.33% |
Naka-ku | |||
Studio | $149,082 | $478 | 3.85% |
1-Bedroom | $248,232 | $760 | 3.67% |
2-Bedroom | $355,870 | $963 | 3.25% |
3-Bedroom | $381,478 | $1,427 | 4.49% |
Kanagawa-ku | |||
Studio | $89,164 | $407 | 5.48% |
1-Bedroom | $226,833 | $585 | 3.09% |
2-Bedroom | $276,764 | $892 | 3.87% |
3-Bedroom | $298,164 | $1,134 | 4.56% |
Nishi-ku | |||
Studio | $141,235 | $457 | 3.88% |
1-Bedroom | $269,631 | $785 | 3.49% |
2-Bedroom | $337,396 | $1,248 | 4.44% |
3-Bedroom | $391,251 | $1,291 | 3.96% |
Yokohama avg. Rental Yields | 4.04% | ||
FUKUOKA - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
1-Bedroom | $156,615 | $530 | 4.06% |
2-Bedroom | $192,812 | $839 | 5.22% |
3-Bedroom | $227,934 | $1,014 | 5.34% |
4+Bedroom | $403,902 | $1,434 | 4.26% |
Fukuoka (all locations) | |||
Studio | $51,249 | $308 | 7.21% |
1-Bedroom | $154,823 | $480 | 3.72% |
2-Bedroom | $170,592 | $538 | 3.78% |
3-Bedroom | $207,148 | $699 | 4.05% |
4+Bedroom | $243,703 | $1,000 | 4.92% |
Fukuoka avg. Rental Yields | 4.74% | ||
SAPPORO - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
1-Bedroom | $128,876 | $380 | 3.54% |
2-Bedroom | $174,176 | $566 | 3.90% |
3-Bedroom | $220,766 | $925 | 5.03% |
4+Bedroom | $221,483 | $1,100 | 5.96% |
Sapporo (all locations) | |||
Studio | $34,764 | $251 | 8.66% |
1-Bedroom | $93,109 | $344 | 4.43% |
2-Bedroom | $135,793 | $401 | 3.54% |
3-Bedroom | $178,118 | $573 | 3.86% |
4+Bedroom | $184,928 | $939 | 6.09% |
Sapporo avg. Rental Yields | 5.27% | ||
KOBE - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Kobe (all locations) | |||
Studio | $85,597 | $357 | 5.00% |
1-Bedroom | $162,635 | $464 | 3.42% |
2-Bedroom | $176,901 | $542 | 3.68% |
3-Bedroom | $198,657 | $663 | 4.00% |
4+Bedroom | $201,153 | $942 | 5.62% |
Kobe avg. Rental Yields | 4.35% | ||
KAWASAKI - Apartments | COST ($) | YIELD (p.a.) | |
TO BUY | MONTHLY RENT | ||
Center | |||
Studio | $123,403 | $457 | 4.44% |
1-Bedroom | $212,566 | $635 | 3.58% |
2-Bedroom | $277,478 | $863 | 3.73% |
3-Bedroom | $326,696 | $1,016 | 3.73% |
Kawasaki (all locations) | |||
Studio | $126,256 | $435 | 4.13% |
1-Bedroom | $244,665 | $628 | 3.08% |
2-Bedroom | $270,344 | $756 | 3.36% |
3-Bedroom | $320,847 | $927 | 3.47% |
4+Bedroom | $355,228 | $913 | 3.08% |
Kawasaki avg. Rental Yields | 3.42% | ||
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 |
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).