Rent increases broaden beyond Tokyo
At Home’s July 2026 survey found that apartment asking rents were higher than a year earlier in every floor-area category across 10 markets: Tokyo’s 23 wards, suburban Tokyo, Kanagawa, Saitama, Chiba, Nagoya, Kyoto, Osaka, Kobe and Fukuoka. The broader survey covers 13 major markets, including Sapporo, Sendai and Hiroshima. The results matter for investors because they indicate that rent growth is no longer purely a central-Tokyo story.
Demand varies by household type
Couple-oriented apartments recorded year-on-year increases across all 13 surveyed markets for a sixth consecutive month. In Tokyo’s 23 wards, the same category reached a new high for the 14th consecutive month based on the series beginning in 2015. By contrast, single-person apartment rents in the 23 wards declined after 25 consecutive months of record highs. The divergence shows why investors should examine unit size and tenant segment rather than relying solely on citywide averages.
Regional yield still requires an exit strategy
Regional Japanese cities often offer lower acquisition prices and higher headline yields than central Tokyo. However, rent growth alone does not determine investment performance. Population trends, new supply, tenant turnover, management expenses and resale liquidity can materially change returns. The latest data strengthen the case for studying regional markets, but they also reinforce the importance of evaluating occupancy and exit conditions alongside rent levels.