Tokyo office rents surge 20%, sharpest rise in 35 years

Property Tokyo office rents surge 20%, sharpest rise in 35 years Competition for talent, return-to-office trend drive demand in prime locations Office rents are highest on the eastern side of Tokyo Station, where tenants are drawn to convenient transportation access. (Photo by Rie Ishii) MISAKI MORIKAWA and KEITA SHIMODA November 10, 2026 02:22 JST TOKYO/OSAKA -- Rents for existing offices in Tokyo are growing at their fastest rate since the early 1990s, before Japan's economic bubble burst, a Nikkei survey shows, as companies competing for talent rush to secure well-equipped, conveniently located work spaces. Read Next Property Tokyo commercial land prices jump to 33-year high as remote work ebbs Property Tokyo area condo prices hit half-year record, but signs of slowdown emerge Finance Japan's regional banks log record growth in property lending Property Japan developer Hulic and peers spend $1.5bn on Tokyo office tower deal Business deals Daiwa fund buy of Blackstone Tokyo office complex include retail digital securities Property Shanghai tops world in empty offices as overseas investment pulls away Business trends Taiwanese banks urged to trim branches as office rents hit high Property Japan weighs taxing real estate rental operators living overseas Property Japan's ruling LDP considers curbs on speculative condo trading Latest on Property Property China mega complex in Dalian puts spotlight on investment push Property Japan weighs taxing real estate rental operators living overseas Property Tokyo ward seeks 5-year ban on condo resales at redevelopment project Sponsored Content About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.