Tokyo Class A vacancy is 4.6% with the market trending rising — pipeline visibility matters more than headline vacancy.

  • Headline vacancy: 4.6%; trend rising.
  • Trophy submarket (Marunouchi & Otemachi) typically clears at half headline vacancy.
  • New construction lead time is 36–60 months — pipeline is largely fixed for the next cycle.
  • Pre-let activity dominates the new-build pipeline.

Tokyo Class A office availability and pipeline

Tokyo Class A vacancy is 4.6% with the market trending rising — pipeline visibility matters more than headline vacancy.

TL;DR

  • Headline vacancy: 4.6%; trend rising.
  • Trophy submarket (Marunouchi & Otemachi) typically clears at half headline vacancy.
  • New construction lead time is 36–60 months — pipeline is largely fixed for the next cycle.
  • Pre-let activity dominates the new-build pipeline.

Headline vs trophy availability

Headline Tokyo Class A vacancy of 4.6% includes a long tail of older, less-amenitised stock. The trophy tier in Marunouchi & Otemachi typically clears at materially below headline.

Pipeline visibility

Construction lead times of 36–60 months mean the next cycle's supply is already largely visible. Tracked pipeline includes 4 notable assets in Tokyo.

Key facts

cityTokyo
countryJapan
regionAPAC
classARentLocal50000 JPY/sqft/yr
classARentUsd$113/sqft/yr
vacancy4.6%
typicalLeaseYears5
typicalRentFreeMonths4
submarkets6
primeYieldPct3%

Frequently asked questions

Is Tokyo Class A office tight right now?
Headline vacancy is 4.6%. Trophy is materially tighter; older Class A and Class B carry the long tail.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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