Renting PS5s proving extremely popular in Japan, with most stores selling out
The service allows players to take home a PS5 for around $6 a week
Renting PS5s in Japan is reportedly extremely popular, with most stores “at capacity”.
Japanese retailer GEO has told IT Media News that the service, which the company began earlier this year, has been “more popular than they expected”. The service was originally launched due to the limited availability of the PS5.
The service, which is provided by 400 stores across Japan, lets players rent a PS5 console for either 8 days for ¥980 ($6.62) or 15 days for ¥1,780 ($12.02), before returning it to the store.
GEO claims that the release of Monster Hunter Wilds, a series that has always been extremely popular in Japan, has spurred the success of the service. While Sony isn’t actively involved in the program, GEO claims that it had “deep discussions” with the platform holder ahead of the launch of the rental program.
A UK leasing agency, Raylo, offers a similar service. Players can choose to lease standard or digital PS5 consoles, PlayStation Portal handhelds, PlayStation VR2 headsets or PS5 Pro consoles on a rolling monthly contract. They can also sign up for 12-month, 24-month or 36-month terms for lower monthly payments.
For example, a PS5 Digital Edition console costs £21.95 per month to lease, with the option to cancel at any time. By committing to 12, 24 or 36 months, this price is lowered to £16.49, £11.99 or £10.99 per month respectively.
While renting consoles isn’t new, it’s possible that its increased popularity is due to the lack of a PS5 price cut five years into its lifecycle, and in the case of some SKUs, price increases.
Last week, Sony announced that the PS5 Digital Edition would get a price increase, effective immediately.
The PS5 Digital Edition now costs €499.99 in Europe, up from its previous price of €449.99 (an increase of €50). Meanwhile, in the UK the console now costs £429.99, up from its previous £389.99 (an increase of £40).
This is the second time Sony has raised the price of the PS5 Digital Edition, having previously done so in 2022. The console originally cost €399.99 in Europe and £359.99 in the UK, meaning the new price marks a total increase of €100 / £70 since launch.
