Tokyo's luxury rental
market, by the numbers.

This issue analyzes 40 contracted luxury rental transactions (¥500,000/month and above) across Tokyo's 23 wards in July 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 dominated volume this month, accounting for 18 of 40 contracts (45%) at a median monthly rent of ¥1,175,000 — a notably rich reading driven by a cluster of large-format, high-value signings rather than a broad repricing of the ward. Shinjuku-ku and Shibuya-ku each contributed 4 contracts, with Chiyoda-ku, Chuo-ku and Meguro-ku at 3 apiece; no other ward reached the 5-contract reliability threshold this month, a narrower spread of activity than in recent issues. The top-end of the market produced two notable transactions worth separating. The monthly high was Mita Garden Hills Park Mansion in Minato-ku at ¥3.3M/month (132.11㎡, 2LDK) — a genuine benchmark for the building's flagship units. Separately, a 25.52㎡ studio at Total Shine in Shinagawa-ku contracted at ¥1.393M/month (¥54,585/㎡) — an extreme outlier for a compact unit that we flag rather than fold into the ward's typical pricing.

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.

Volume and pricing by ward, ranked by number of contracts. July 2026 alone produced only 40 qualifying contracts, too thin a sample to report most wards reliably — so this table uses a trailing three-month window (May–July 2026, 133 contracts) instead. Wards with fewer than 5 contracts across the window are excluded for statistical reliability.

Buildings appearing most frequently across the trailing twelve months (August 2025–July 2026), indicating high turnover or large unit counts.

Note: the Mita Garden Hills complex — split across four registered sub-buildings (North / East / South / West Hill and Park Mansion) — collectively logged 61 contracts over the trailing 12 months, which would rank it well ahead of every other entry above if counted as a single address.