Tokyo leases are typically 5-7 years with a 2-year tenant notice.

  • Typical lease length: 5 years.
  • Typical rent-free: 4 months.
  • Vacancy: 4.6%; trend rising.
  • Tokyo leases are typically 5-7 years with a 2-year tenant notice.

Tokyo office lease norms

Tokyo leases are typically 5-7 years with a 2-year tenant notice.

TL;DR

  • Typical lease length: 5 years.
  • Typical rent-free: 4 months.
  • Vacancy: 4.6%; trend rising.
  • Tokyo leases are typically 5-7 years with a 2-year tenant notice.

Structure

Tokyo leases are typically 5-7 years with a 2-year tenant notice. Standard leases are 'fixed-term' (teiki shakuya) or 'ordinary' (futsu shakuya) — fixed-term is increasingly common for Grade A. Rent is base + common-area maintenance billed separately. Restoration to original (genjo kaifuku) is contractual and significant. Personal seal (jitsuin) requirements apply.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

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

Frequently asked questions

What's a typical lease term in Tokyo?
5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Tokyo?
In JPY/sqft/year. We also publish a USD-normalised view ($113/sqft/yr) for cross-market comparison.

Editorial provenance

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

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