Gross rental yields vary widely across Japan, and the headline number rarely tells the whole story. Here is how the major markets compare in 2026.

Indicative gross yields

• Central Tokyo: 3.0–4.0% — lowest yield, highest liquidity.
• Osaka / Nagoya: 4.5–6.0% — strong income, solid demand.
• Fukuoka / Sapporo: 5.0–6.5% — regional growth markets.
• Rural / akiya: headline yields high, but vacancy risk dominates.

Always work in net terms: management fees, taxes, and vacancy can trim 1–2 points off the gross figure. A realistic net model beats a flattering gross headline every time.