Tokyo Office Rents Post Their Sharpest Rise in 35 Years

Rents for existing offices in Tokyo are growing at their fastest rate since the early 1990s, before Japan’s economic bubble burst, according to a Nikkei survey reported by Nikkei Asia, as companies competing for talent rush to secure well-equipped, conveniently located work space. The report ties the surge to a combination of intensifying competition for staff and a continuing return-to-office trend among Japanese employers.

Rents are highest on the eastern side of Tokyo Station, where tenants are drawn to convenient transport access, the report notes. Nikkei Asia’s full dataset sits behind a paywall; Zagdim will follow up if further detail on specific submarket rent levels becomes available.

References

Nikkei Asia – Tokyo Office Rents Surge 20%, Sharpest Rise in 35 Years