#Japan #Tokyo #Tokyo Office Rent #Small Office Prices #At Home Co.

Introduction

The Tokyo real estate market has been undergoing notable changes in recent years, particularly concerning small office rentals. According to recent data from At Home Co., a leading provider of real estate information services in Japan, there has been a continuous uptick in rental prices for small offices (defined as 50 tsubo or less). The analysis, conducted by At Home Lab, reveals significant trends in rental prices across various regions, especially focusing on the late half of 2025.

Current Rental Trends in Tokyo

In Tokyo, the rental prices for small offices show a consistent increase for both ultra-small (5 to 25 tsubo) and small (25 to 50 tsubo) categories. For ultra-small offices, the average rental price reached 14,811 yen per tsubo, marking a 3.4% increase from the previous period, continuing an upward trend for six consecutive periods. Similarly, small offices saw an increase to 16,283 yen per tsubo, which is a 1.7% rise and signifies four consecutive periods of growth.

Among the 21 districts surveyed in Tokyo, ultra-small offices achieved peak rental prices in 16 districts, while small offices did so in 10 districts, marking the highest figures since the second half of 2012.

Performance in Other Major Areas

Beyond Tokyo, other major cities have also experienced significant rental increases. Cities such as Osaka and Fukuoka set new records for ultra-small office rents during the second half of 2012, showing a broad trend of rising demand and increased prices for small office spaces. Additionally, small office rentals reached historic highs in cities like Yokohama, Osaka, and Fukuoka, further establishing the trend across the national landscape.

Research Methodology

This comprehensive study analyzed data from the At Home real estate information network, specifically focusing on rental offices (excluding whole buildings and shop leases). The analysis included properties located within a 10-minute walk from train stations in selected areas, covering various regions such as:

• - Tokyo: 21 districts
• - Other Major Cities: Sendai, Yokohama, Nagoya, Osaka, and Fukuoka

The examination period referred to the second half of 2025, and the data collected focused on the latest rental offerings available. Rental prices were calculated per tsubo, inclusive of common fees but exclusive of tax. The median rental prices for each area were reported to provide a comprehensive understanding of the market dynamics.

Definition of Office Sizes

In this study, small offices were categorized into ultra-small (ranging from 5 to 25 tsubo) and small (ranging from 25 to 50 tsubo) to effectively assess the rental landscape in relation to different sizes of office space. The segmentation allows stakeholders and potential renters to make informed decisions based on specific market conditions.

Conclusion

The findings from At Home's research indicate sustained demand for rental spaces in Tokyo and other major cities, with upward trends expected to continue into the near future. As businesses adapt to changing work environments and expand into smaller office spaces, understanding these rental trends will be crucial for investors, property managers, and prospective tenants alike.

For further details and to view the complete report, visit this link.