[Housing REIT] The decline in the closing number of rental apartments in Tokyo 23 wards over 90,000 yen is a proof of the market recovery!

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The closing number of condominiums in rental condominiums in the metropolitan area continues to decline

The closing number of condominiums rental condominiums in the Tokyo metropolitan area declined for the 13th consecutive month compared with the same month last year, still declining for 11 consecutive months as compared to the previous month. Meanwhile, Kanagawa Prefecture (again increase), Saitama ken (the first time in 9 months) increased in comparison with the previous month, the apartment increased for the first time in 13 months, the first time in five months both newly built and used, the increase in all areas (Including textual graph, at home study).

At first glance, I think that it is thought that the condominium number decreases = deterioration of the rental apartment market situation, but the writer rather increases the rental rent of the rental apartment → the renewal rate in the rental apartment is high → hence the number of concluded contracts → the rental apartment market situation improves, I believe.

Rent is actually rising

The average rent index per house in the latest contracted property rose for the first time in three months for the apartment house as compared with the previous month, apartment also rising again (below graph).

In terms of medium- to long-term terms, the rent index per square meter has bottomed out in 2013 and it is rising moderately (see the graph below).

A room with a monthly price of more than 90,000 yen is the main battlefield of the housing REIT, evidence that the update rate is high

As a characteristic change, the number of contracts for rooms between 90,000 yen and 200,000 yen in Tokyo’s 23 wards has declined (see graph below). This is a price range particularly good for housing REIT, and I believe that the refresh rate of the property held is rising.

In light of the moderate rise in the rent index until the end, and 2) the decline in the number of contracts in the price range of 90,000 to 200,000 yen, the rent rise → the location and comfortable are better than now, the rent is cheap etc. There is no room of the condition → I do not search for a new room → I do not leave → I think that the result of a decrease in the number of contracts.