Market Trends

This section outlines information about leased housing market and the position of Leopalace21.

Market Size

Against a market of 19.06 million households*1, Leopalace21 manages 573,673 rooms*2. As one of the largest rental housing companies in Japan, we could be referred to as the largest landlord in Japan.

  • *1 The number of households living in leased housing in 2018
  • *2 As of the end of March 2021

According to the data from Housing and Land Survey in 2018 (Statistics Bureau of Ministry of Internal Affairs and Communications), 19.06 million households out of 54.00 million ordinary households in Japan live in leased housing. This shows that 35% of ordinary households in Japan live in leased housing.

Looking at the figures of leased household ratio (ratio of households living in leased housing) by prefecture, major urban areas generally tend to have a high ratio of leased houses, with Tokyo having a ratio of 49.1%, Osaka 41.2% and Fukuoka 44.4%.

Leased Household Ratio (Top Five Prefectures)

Prefecture Leased Household Ratio
Okinawa 49.5%
Tokyo 49.1%
Fukuoka 44.4%
Hokkaido 41.3%
Osaka 41.2%
National average 35.6%
  • *Source: Housing and Land Survey in 2018 (Statistics Bureau of Ministry of Internal Affairs and Communications)

Leopalace21 manages 573,673 rooms (as of the end of March 2021) centered on major cities with high leased household ratio. Looking at the numbers by area, approximately 60% of the rooms are located in the 3 major urban areas, with the Tokyo metropolitan area centered on Tokyo accounts for 30%, the Kinki area centered on Osaka 14%, and the Chubu area centered on Nagoya 15%.

Many businesses including local real-estate agencies and Urban Renaissance Agency (used to be called Japan Housing Corporation), offer leased housing but Leopalace21 could be referred to as Japan's largest scale private landlord, being the only company offering approximately 570 thousand rooms.

Proportion of rooms by Major Areas


Demand Trend

The number of single households, Leopalace21's target customers, is estimated to grow; especially in the age group of 35 years- old and over.

The Japanese population reached its peak in 2008, and then turned to decline, but the number of total households has continued to increase due to the increase in nuclear families, and the aging population coupled with declining birthrate. According to an estimate by the National Institute of Population and Social Security Research, the number of total households will climb to its peak in 2023 and gradually decline, whereas single households is estimated to grow further. The number of single households in working-age population from 15 till 64 years, Leopalace21's main market segment, remains stable between 10 million to 12 million for the next 20 years.

Leopalace21 has been targeting young and single households in urban areas as our main user. Therefore, we have increased equipment installation matching tenants' needs, e.g., internet connection and bathroom dryers, and promoted user-friendly IT systems such as web-based rental agreement system which supports digitalized documents. Also, we have increased corporate usage by offering properties as corporate dormitories or as accommodations for business trips by introducing short-term monthly contracts.

As a result, concerning single households, we have obtained the market share of 3.4% in 2010, 3.0% in 2015 and 3.0% in 2020.

Future estimate of general households by family category

Example of our room facilities

  • Bedding set is included only for "short-term plan," a variation of the monthly contract.
  • Home appliances differ in each room.
  • Room image includes furniture which is not offered by Leopalace21

Supply Trend

Rental housing starts for 30 m² or under, which Leopalace21 mainly supplies, stood at 53.1 thousand units (approximately 16.2% of total rental housing starts). *1

  • *1 Number of new rental housing starts for 30㎡ or under, FY2020 (April 2020 - March 2021)

According to the Housing Starts Statistics by the Ministry of Land, Infrastructure, Transport and Tourism, the number of new rental housing starts during FY2020 was 303.0 thousand units. The rental housing for 30 m² or under, which Leopalace21 mainly supplies, amounted to 53.1 thousand units, or 17.6% of the total.

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