Rent in Tokyo Rises 10 Percent

TOKYO, Mar 05 (News On Japan) - The average rent for family-oriented apartments in Tokyo's 23 wards has risen by 10 percent in the past year, reaching a record high since 2015.

As a result, finding a property has become challenging. A couple in their 50s, currently living in a 2DK apartment for 120,000 yen, said, "We're looking for a cheaper place since our son moved out."

"We're thinking around 80,000 yen, with a parking spot," they said.

With many properties already taken in March, they decided to broaden their search criteria.

"The place has good sunlight, free parking, and a bike spot," the husband noted.

"Rent is 90,000 yen, and goes up to 150,000 yen if you park two cars," the real estate agent replied.

Although the property was above their budget, the couple seemed to like it. However, upon viewing, it didn't match their expectations.

"If it's an apartment, it ends up being this price. We want to try a bit harder to find a good, affordable place," the wife said.

As housing prices soar, especially in areas close to the city center, more people are opting for rentals.

"Rent is determined by supply and demand. Areas with high demand will see rent increases," said Kazuhiro Watanabe, President of Kai Corporation.

So, where can you find affordable rental spots? Experts recommend Ayase Station, next to Tokyo's Adachi Ward's Kitasenju, which has been ranked first in the "Hidden Gem City Ranking" for seven consecutive years.

Kitasenju has become increasingly popular, with rents on the rise. In contrast, Ayase, still under the radar, offers more affordable rents.

"Kitasenju's family-type apartments start at around 98,000 yen, typically in the mid-100,000 yen range. In Ayase, you can find places in the 80,000 yen range, about a 20,000 yen difference," said Kazuhiro Ujishima, President of US Properties.

Residents of Ayase shared their experiences:

A person who moved to Ayase a year ago said, "The rent was completely different from Kitasenju. We have many parks, which is great for letting the kids play."

Another resident who moved two years ago mentioned, "Ayase is pretty much like Kitasenju. It's just one station away."

A resident who moved six months ago added, "Supermarkets are cheap, and there are quite a few stores near the station, so life is quite convenient."

Source: ANN

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