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Economy

Tokyo office brokerages dig into details to avoid price dips

Big supply jump seen loosening rental market in 2018

Office rents in central Tokyo have been rising only mildly.

TOKYO -- With many newly constructed office buildings seen loosening the Tokyo market next year, leasing brokerages are publicizing more detailed, localized market information to prevent prices of prime properties from falling.

Sanko Estate offers data on market-rate rents in smaller sections than before. Tokyo's Chiyoda Ward, for instance, is split into three areas -- Marunouchi and Otemachi; Sotokanda and Iwamotocho; and Kojimachi and Bancho. It also reports data by building size measured by the space of a single floor. The rent for a large building in the Marunouchi and Otemachi area with a single-floor space of at least 660 sq. meters, for example, is 38,709 yen ($345) per 3.3 sq. meters.

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