2026-06 · Covering 2026-01 – 2026-05
Executive Summary
This issue analyzes 262 contracted luxury rental transactions (¥500,000/month and above) across Tokyo's 23 wards between 2026-01 – 2026-05, sourced from a designated real estate transaction database. Because this dataset reflects signed leases rather than asking prices, it offers a more accurate read of where the market is actually clearing, rather than where landlords hope it will.
Minato-ku dominates the segment by volume, accounting for 112 of 262 contracts (43%) at a median monthly rent of ¥800,000. Shibuya-ku follows with 55 contracts at a median of ¥740,000. Together, these two wards account for 64% of all luxury activity captured in this dataset — a concentration consistent with their density of serviced towers, embassy-adjacent neighborhoods, and international school catchment areas. Notably, Shinjuku-ku commands the highest price per square meter (¥10,309/㎡) despite trailing Minato-ku on absolute rent — a signal of newer, smaller-format inventory rather than larger family-sized units.
Key observation: Median contracted rent moved from ¥628,000 in Jan to ¥700,000 in May, a 11% higher reading, with the period's peak in Mar at ¥740,000. At the building level, Park Court The Sanbancho House in Chiyoda-ku was the single most active address, generating 7 contracts over the period — a useful proxy for where new luxury supply is currently being absorbed fastest.
Market Data
All figures represent contracted (成約) rents of ¥500,000/month or above, cleaned of properties without floor area data and entries inconsistent with a monthly rental figure.
| Month | n | Median | Max | ¥/㎡ | Size |
|---|---|---|---|---|---|
| Jan | 39 | ¥628K | ¥1.5M | ¥9,389 | 85㎡ |
| Feb | 63 | ¥675K | ¥2.4M | ¥9,142 | 92㎡ |
| Mar | 66 | ¥740K | ¥2.4M | ¥9,984 | 94㎡ |
| Apr | 53 | ¥674K | ¥4M | ¥9,039 | 89㎡ |
| May | 41 | ¥700K | ¥1.6M | ¥8,765 | 87㎡ |
Market Data
Volume and pricing by ward, ranked by number of contracts. Wards with fewer than 5 contracts are excluded for statistical reliability.
| Ward | n | Median | Max | ¥/㎡ |
|---|---|---|---|---|
| Minato-ku | 112 | ¥800K | ¥2.4M | ¥9,190 |
| Shibuya-ku | 55 | ¥740K | ¥4M | ¥9,117 |
| Chiyoda-ku | 32 | ¥626K | ¥1.6M | ¥7,630 |
| Shinjuku-ku | 15 | ¥600K | ¥824K | ¥10,309 |
| Chuo-ku | 10 | ¥590K | ¥1.1M | ¥6,924 |
| Setagaya-ku | 10 | ¥670K | ¥1.1M | ¥8,696 |
| Meguro-ku | 8 | ¥535K | ¥1.1M | ¥4,989 |
| Shinagawa-ku | 8 | ¥625K | ¥1M | ¥6,282 |
Market Data
Buildings appearing most frequently in the dataset, indicating high turnover or large unit counts.
| Building | Ward | n |
|---|---|---|
| Park Court The Sanbancho House | Chiyoda-ku | 7 |
| Mita Garden Hills East Hill | Minato-ku | 7 |
| Maison de Pantheur | Chiyoda-ku | 7 |
| World Tower Residence | Minato-ku | 7 |
| Park Court Jingu Kita-Sando | Shibuya-ku | 5 |
| Mita Garden Hills South Hill | Minato-ku | 5 |
| Atlas Azabu-Juban | Minato-ku | 5 |
| Millennium Garden Court | Chiyoda-ku | 5 |
Methodology
Source: A designated real estate transaction database operated under Japan's Building Lots and Buildings Transaction Business Act, accessed via TokyoExpat's industry membership.
Scope: All contracted (成約) rental transactions of ¥500,000/month or above, Tokyo Metropolis. No ward restriction applied.
Limitations: This is a transaction-count sample, not a comprehensive census. Wards with fewer than 5 contracts in a given period carry low statistical reliability.