Mitsubishi Estate Real Estate Services Announces Office Market Trend Survey for Tokyo as of End of May 2026

Mitsubishi Estate Real Estate Services Co., Ltd. has conducted and announced the results of its market trend survey on Tokyo office vacancy rates and average asking rents as of the end of May 2026.

[Major Results] - Potential vacancy rate for the 5 major wards was 1.98% (-0.21pt MoM), average rent was 37,328 JPY/tsubo (+625 JPY/tsubo MoM). - Potential vacancy rate for the 7 major wards was 2.38% (-0.19pt MoM), average rent was 32,217 JPY/tsubo (+434 JPY/tsubo MoM).

[Area Trends and Structural Factors] In the Yaesu, Kyobashi, and Nihombashi areas, low-mid-tier rent vacancies have been exhausted, and an increase in new listings at higher prices has pushed average rents past the 70,000 JPY/tsubo mark. Across the seven major wards, the contracted space in FY2025 reached approximately twice the newly listed space, indicating a persistent trend of 'excess demand and a landlord-favorable market.' Minato Ward saw a surge in contracted space as it absorbed relocation demand despite the completion of several large-scale properties.

(Note: Please refer to the full report on the official website for details.)