2026-07 · Covering 2025-06 – 2026-06
Executive Summary
This issue analyzes 52 contracted luxury rental transactions (¥500,000/month and above) across Tokyo's 23 wards in June 2026, sourced from Real Estate Information Network Systems, Japan's 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 again leads on volume, accounting for 26 of 52 contracts (50%) at a median monthly rent of ¥780,000. Shibuya-ku follows with 9 contracts at a median of ¥640,000. Chuo-ku and Chiyoda-ku contributed 5 and 4 contracts respectively. The top-end of the market produced two notable transactions. The monthly high was The Tower Jujo in Kita-ku at ¥3.58M/month (76㎡, 19F) — an outlier given the location, reflecting the building's premium positioning. Within the more liquid Minato-ku market, Azabu Daiichi Mansions recorded a ¥3.3M/month contract (301㎡, 4LDK), a more representative benchmark for the ultra-large-format luxury segment.
Key observation: June 2026 median contracted rent came in at ¥670,000 — down 2.5% year-over-year vs. June 2025 (¥688K), while contract volume grew slightly (+4%, 50 → 52). Within the trailing 13-month window, the series peak remains November 2025 at ¥770K. The Jun 2026 print sits slightly below both the trailing 12-month median and the May 2026 reading, consistent with typical mid-year seasonal softening.
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 |
|---|---|---|---|---|---|
| Jun 2025 | 50 | ¥688K | ¥2.5M | ¥9,795 | 85.4㎡ |
| Jul 2025 | 61 | ¥750K | ¥2.7M | ¥7,948 | 103.4㎡ |
| Aug 2025 | 45 | ¥680K | ¥2.3M | ¥8,411 | 92.7㎡ |
| Sep 2025 | 61 | ¥695K | ¥3M | ¥8,154 | 93.6㎡ |
| Oct 2025 | 46 | ¥750K | ¥2.4M | ¥9,537 | 87.4㎡ |
| Nov 2025 | 51 | ¥770K | ¥2.5M | ¥8,564 | 100.7㎡ |
| Dec 2025 | 58 | ¥680K | ¥3M | ¥8,903 | 86.8㎡ |
| Jan 2026 | 39 | ¥628K | ¥1.5M | ¥9,389 | 85㎡ |
| Feb 2026 | 63 | ¥675K | ¥2.4M | ¥9,142 | 92㎡ |
| Mar 2026 | 66 | ¥740K | ¥2.4M | ¥9,984 | 94㎡ |
| Apr 2026 | 53 | ¥674K | ¥4M | ¥9,039 | 89㎡ |
| May 2026 | 41 | ¥700K | ¥1.6M | ¥8,765 | 87㎡ |
| Jun 2026 | 52 | ¥670K | ¥3.6M | ¥9,289 | 90㎡ |
Market Data
Volume and pricing by ward, ranked by number of contracts (June 2026). Wards with fewer than 5 contracts are excluded for statistical reliability. Chiyoda-ku (4) and Meguro-ku (2) fall below this threshold this month.
| Ward | n | Median | Max | ¥/㎡ |
|---|---|---|---|---|
| Minato-ku | 26 | ¥780K | ¥3.3M | ¥9,407 |
| Shibuya-ku | 9 | ¥640K | ¥820K | ¥8,218 |
| Chuo-ku | 5 | ¥620K | ¥650K | ¥7,013 |
Market Data
Buildings appearing most frequently across the trailing 12 months (Jul 2025 – Jun 2026), indicating sustained high turnover or large unit counts.
| Building | Ward | n |
|---|---|---|
| World Tower Residence | Minato-ku | 20 |
| Mita Garden Hills East Hill | Minato-ku | 18 |
| Azabu Daiichi Mansions | Minato-ku | 15 |
| Mita Garden Hills South Hill | Minato-ku | 14 |
| Millennium Garden Court | Chiyoda-ku | 12 |
| Mita Garden Hills North Hill | Minato-ku | 11 |
| Azabu Terrace Apartment | Minato-ku | 8 |
| Mita Garden Hills Park Mansion | Minato-ku | 8 |
| Park Tower Nishi-Shinjuku | Shinjuku-ku | 7 |
| Park Court The Sanbancho House | Chiyoda-ku | 7 |
| Maison de Pantheur | Chiyoda-ku | 7 |
| Oak Hills | Shinjuku-ku | 6 |
Methodology
Source: Real Estate Information Network Systems, Japan's designated real estate transaction database operated under the country's real estate brokerage law, 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.