#Real Estate Trends #Tokyo Office #Mitsubishi Estate

Tokyo Office Market Trends: August 2026

As of the end of August 2026, Mitsubishi Estate Real Estate Services has conducted a comprehensive study outlining key trends in the Tokyo office market. The results show a slight improvement in the overall vacancy rates and rental prices across significant areas within the metropolitan region.

Current Vacancy Rates

The potential vacancy rate for the primary five districts stands at 1.79%, which marks a decrease of 0.07 percentage points compared to the previous month. In the broader seven district analysis, the potential vacancy rate is at 2.23%, down 0.05 points.

This established the market as stable, albeit with some variations among different areas, indicating a nuanced landscape in terms of demand and supply.

Average Rental Prices

On examining rental prices, the average asking rent in the main five districts is 38,143 yen per tsubo, reflecting an increase of 251 yen from the previous month. Concerning the broader seven districts, the average rent is recorded at 33,038 yen per tsubo, marking an uptick of 210 yen.

These figures illustrate a continual upward pressure on rental prices, driven by demand in key business locations.

District-Specific Observations

In the Yaesu, Kyobashi, and Nihonbashi areas, higher rental levels have been maintained due to the introduction of large new builds. Conversely, properties in the Kanda, Akihabara, and Ochanomizu vicinity have experienced a slight decline in rates.

The Yotsuya and Ichigaya areas are witnessing a stronger sense of property shortages, while the Toyosu and Harumi areas continue to showcase an abundant supply, resulting in noticeable disparities in demand across different locales.

Landlord Stance on Rental Pricing

An internal survey conducted among rental property sales personnel indicates a growing trend towards assertive pricing strategies among landlords. Over the past year, the proportion of landlords who identified as