Tas Corp's rental market data for August | Japan Property Central

TAS Corp, the company behind the ?Tas-Map? real estate valuation site, released their latest data on the rental market for both the greater Tokyo and Kansai area for August 2012.

The data includes a vacancy rate index, average time an apartment is advertised before a tenant is found, average rate of lease renewals, rate of mid-way cancellations and a rent index.

This month?s report on the greater Tokyo area focused on the aging population in Saitama and the consequences this will have for landlords in the future.

The situation in Saitama

There are over 50,000 rental properties in Saitama where the tenants are over 65 years of age.?If you consider the average life expectancy, it is possible that 10,000 properties within 5 years will become vacant, 20,000 within 10 years, 30,000 within 15 years and 50,000 within 20 years from now.?Furthermore, over 75,000 houses rented to those from the baby boom generation could become vacant within the next 25 years.

The aging population is going to create a very large supply of vacant rental properties, leading to increasing vacancy rates.

The rental market in greater Tokyo

The rent index in Tokyo?s 23-ku increased for the second consecutive period, showing signs of a recovery. Tokyo City, Kanagawa and Chiba saw very little change, while Saitama Prefecure saw a slight decrease.

The vacancy indexes are also down in several places. Only Chiba saw a slight increase.

Tokyo (all areas)

• Vacancy index: 11.92
• Time advertised: 3.11 months
• Renewal rate: 42.54%
• Mid-contract cancellation: 38.36%
• Rent index: 97.87

Tokyo 23-ku

• Vacancy index: 11.76
• Time advertised: 3.12 months
• Renewal rate: 42.22%
• Mid-contract cancellation: 38.64%
• Rent index: 98.31

Tokyo City

• Vacancy index: 14.90
• Time advertised: 3.06 months
• Renewal rate: 44.53%
• Mid-contract cancellation: 36.69%
• Rent index: 96.87

Kanagawa Prefecture

• Vacancy index: 12.52
• Time advertised: 3.52 months
• Renewal rate: 43.25%
• Mid-contract cancellation: 40.71%
• Rent index: 98.46

Saitama Prefecture

• Vacancy index: 15.77
• Time advertised: 3.42 months
• Renewal rate: 45.15%
• Mid-contract cancellation: 38.07%
• Rent index: 98.39

Chiba Prefecture

• Vacancy index: 12.82
• Time advertised: 3.33 months
• Renewal rate: 45.94%
• Mid-contract cancellation: 38.74%
• Rent index: 100.39

The rental market in the Kansai region

Osaka

• Vacancy index: 8.00
• Time advertised: 4.64 months
• Renewal rate: 50.83%
• Mid-contract cancellation: 39.48%
• Rent index: 98.52

Kyoto

• Vacancy index: 14.01
• Time advertised: 5.69 months
• Renewal rate: 30.01%
• Mid-contract cancellation: 65.82%
• Rent index: 99.80

Hyogo

• Vacancy index: 11.92
• Time advertised: 5.08 months
• Renewal rate: 45.92%
• Mid-contract cancellation: 44.79%
• Rent index: 101.90

About the data

Vacancy index as calculated by Tas Corp: The number of advertised properties for rent on AtHome divided by the total stock in the sampled area.

Time advertised: average length of time advertised before a tenant is found.

Renewal rate: The percentage of tenants who renew their 2-year lease.

Mid-contract cancellation: The percentage of tenants who cancel their lease before the end of the contract.

Rent index:

• Greater Tokyo: 1st Qtr of 2004 = 100
• Kansai area: 1st Qtr of 2009 = 100

Source:?
The Japanese-language PDF file can be downloaded here:?http://www.tas-japan.com/pdf/news/residential/Vol32_residential20120824.pdf

Source: http://japanpropertycentral.com/2012/08/tas-corps-rental-market-data-for-august/?utm_source=rss&utm_medium=rss&utm_campaign=tas-corps-rental-market-data-for-august

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