Investor Presentaiton
Trends in Apartment Rents
Rent Fluctuation: Apartments/Offices
Nippon
Accommodations
Fund
140.0
Index: 2005=100
130.0
• Apartment rent index
Office rent index
(Tokyo metropolitan area)
(Tokyo metropolitan area)
120.0
110.0
100.0 100.2 100.5 100.4
100.0
98.4
90.0
96.9 96.6 96.3 96.3 96.4
96.7 97.1 97.4
97.6
97.9 98.0 98.1
98.6
80.0
2005 2006 2007
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2018 2019 2020 2021 2022
Source: Japan Real Estate Institute
*Prepared by Mitsui Fudosan Accommodations Fund Management based on the National Office and Apartment Rent Index
Apartment Rent Index in Tokyo 23 Wards
114.3
114.1
114.6 -0.2.0-0-0-0
114.2
113.9
113.8
120.0
Index: 2009 Q1=100
110.0
106.6
103.2
102.2
104.2
100.0
100.9
111.1
97.9
100.0
98.8 96.2
95.1
95.0
90.0
80.0
Apartment rent index (Tokyo 23 wards)
Q1 Q2 Q3 Q4Q1 Q2 Q3Q4Q1Q2Q3Q4Q1QZQ3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1QZQ3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1QZQ3Q4Q1Q2Q3Q4Q1QZQ3Q4
2009
2010
2011
2012
2013
3/24/01/201
2014
2015
2016
2017
2018
2019
2020
2021
2022
Source: At Home Co., Ltd. and Sumitomo Mitsui Trust Research Institute Co., Ltd.
*Prepared by Mitsui Fudosan Accommodations Fund Management based on the Apartment Rent Index (general: 18 m²-100 m²)
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