In 2020, the gross total floor area of new office buildings in Tokyo’s 23 wards amounted to approximately 1.79 million square meters. The supply volume of new office space was forecasted to reach 1.2 million square meters in 2025.
Tokyo Metropolis
Tokyo Metropolis is Japan’s largest city, with a population of more than nine million inhabitants and consists of 23 special wards and over 30 towns, cities, and villages. The five wards Chuo, Shibuya, Shinjuku, Minato, and Chiyoda form Tokyo’s central business district. These districts have the highest average land prices and rents for office space in the city. Tokyo is the leading office real estate market in the country, and a large proportion of office buildings is concentrated there.
Office building stock in Tokyo
The total floor space of office buildings in the central business districts of Tokyo amounted to more than 13 million tsubo in 2020, equaling about 45 million square meters. Most of the existing office building stock in Tokyo was built between 1981 and 1990. During this time, Japan experienced an asset price bubble that led to a real estate development boom. As the seismic design codes for buildings were amended in 1981, a part of the buildings that were completed in the 1980s may not meet the requirements of the new earthquake resistance building standards.
Gross total floor area of new office buildings in Tokyo's 23 wards in Japan from 2011 to 2020 with a forecast until 2025
(in million square meters)
According to the source, the supply volume was calculated using public information, as well as on-site research and interviews conducted until the end of March 2021.
The research subject were office buildings with total floor area exceeding 10,000 square meters with a construction completion date of 1986 or later.
Values have been rounded.
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Mori Building. (May 27, 2021). Gross total floor area of new office buildings in Tokyo's 23 wards in Japan from 2011 to 2020 with a forecast until 2025 (in million square meters) [Graph]. In Statista. Retrieved May 24, 2022, from https://www.statista.com/statistics/669895/japan-floor-area-office-buildings-tokyo/
Mori Building. "Gross total floor area of new office buildings in Tokyo's 23 wards in Japan from 2011 to 2020 with a forecast until 2025 (in million square meters)." Chart. May 27, 2021. Statista. Accessed May 24, 2022. https://www.statista.com/statistics/669895/japan-floor-area-office-buildings-tokyo/
Mori Building. (2021). Gross total floor area of new office buildings in Tokyo's 23 wards in Japan from 2011 to 2020 with a forecast until 2025 (in million square meters). Statista. Statista Inc.. Accessed: May 24, 2022. https://www.statista.com/statistics/669895/japan-floor-area-office-buildings-tokyo/
Mori Building. "Gross Total Floor Area of New Office Buildings in Tokyo's 23 Wards in Japan from 2011 to 2020 with a Forecast until 2025 (in Million Square Meters)." Statista, Statista Inc., 27 May 2021, https://www.statista.com/statistics/669895/japan-floor-area-office-buildings-tokyo/
Mori Building, Gross total floor area of new office buildings in Tokyo's 23 wards in Japan from 2011 to 2020 with a forecast until 2025 (in million square meters) Statista, https://www.statista.com/statistics/669895/japan-floor-area-office-buildings-tokyo/ (last visited May 24, 2022)
