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Monthly office rent Tokyo 2019

The average monthly office rent per tsubo in Tokyo's main business districts amounted to approximately 22.2 thousand Japanese yen as of December 2019, reaching its highest point during that year. The average rent increased by more than one thousand yen since January 2019.

 Low office vacancy rates in Japan’s metropolitan areas

The increasing rents for office space reflect a general downward trend in vacancy rates for office space in Tokyo's main business districts; Chiyoda, Chuo, Minato, Shinjuku, and Shibuya. Similarly, vacancy rates for office space in Osaka and other major cities in Japan have continued to decrease over the past decade. This development has been accompanied by increasing commercial land prices in the metropolitan areas of Tokyo, Osaka, and Nagoya since 2014.

 Real estate investment in office property

With an increasing demand for office space and rising rents, the office market has played a growing role in commercial real estate investment. Office property has been among the major types of property acquired by Japanese real estate trusts in Japan. Properties in Tokyo and the Greater Tokyo Area, which includes the prefectures Kanagawa, Chiba, and Saitama, have accounted for half of the securitized properties in Japan.

Average monthly office rent in Tokyo's main business districts in 2019 (in 1,000 Japanese yen per tsubo)*

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Release date

June 2020



Survey time period


Special properties

1 tsubo equals about 3.3 square meters or 35.6 square feet

Supplementary notes

*Business districts here include Chiyoda-ku, Chuo-ku, Minato-ku, Shinjuku-ku, and Shibuya-ku.

1 Japanese yen equals 0.0093 U.S. dollars or 0.0083 euros as of June 2020.
Figures have been rounded.
The source does not provide an exact publication date. Date given here is the day of data access.

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Statistics on "Real estate in Japan"

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