What is Tokyo's rental demand?
- Japanese real estate expertise
A novel coronavirus (COVID-19) has been raging worldwide since the beginning of 2020.
"How about Tokyo's real estate?" has been asked by overseas customers who wish to purchase apartments.
The impact on real estate sales and purchases in Tokyo is likely to be a little later because of the prolonged national holidays called "Golden Week" and the "Stay-at-home" request by the government due to the declaration of a state of emergency.
This time, I would like to talk about the rental demand based on the rental occupancy rates of CLEARTH RENT which is the rental (leasing) management company of the CLEARTH LIFE Group.
*Prepared by CLEARTH LIFE based on the occupancy data from CLEARTH RENT
The graph above shows the rental occupancy rate as of the end of March each year. From March 2012 to March 2020, they have maintained a high level of 99% or more. It is a number that is counted as "vacancy" when the contract (move-in date) of the new tenant is more than one month after the previous tenant has moved out. During this time, the condition of the unit after the previous tenant has moved out is checked → repair → cleaning → inspects the condition and the next tenant is ready to move in comfortably.
In Japan, there are many companies and schools with fiscal years and school years from 1st April to 31st March.
Since the number of people moving due to relocation or going to school increases every March, the occupancy rate changes especially in March.
*The above graph was prepared by CLEARTH LIFE based on the occupancy rate
of the rental housing market sentiment survey by the Japan Property Management Association
(https://www.jpm.jp/
) and the occupancy rate of CLEARTH RENT.
Tokyo metropolitan area: Tokyo, Kanagawa, Chiba, Saitama
Kansai area: Osaka, Kyoto, Nara, Shiga, Wakayama, Hyogo
The above occupancy rates include apartments with an old age, and apartments that require 20 or 30 minutes walk from the nearest station. It may be difficult to make a simple comparison, but it seems clear that CLEARTH RENT maintains a high occupancy rate.
"High occupancy rate = Demand for rental = Valuable property"
The latest rental occupancy rate as of the end of April 2020, when the effects of a novel coronavirus are beginning to appear, remains high at 99.85%.
(As for the reason, I would like to talk about it in detail on another opportunity.)
For those who want to know the reason for maintaining a high occupancy rate, you can actually visit the units that are on sale, or online apartment viewing from your home or overseas.
Please feel free to contact us!
Japan is heading to midsummer from now.
From the "CONCIERIA MONZEN-NAKACHO CROSSIA" that was launched in April 2020, you can see the Sumidagawa River, and experience the coolness of the water and the freshness of nature.
Please enjoy the nice view when you visit the unit on sale or when you do the online apartment viewing from your home or overseas!
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