Gross total floor area of new office buildings in Tokyo's 23 wards 2014-2028

In 2023, the gross total floor area of new large-scale office buildings in Tokyo’s 23 wards amounted to approximately 1.3 million square meters. The supply volume of new office space was forecasted to decline to 610 thousand square meters in 2024. 

Tokyo Metropolis

Tokyo Metropolis is Japan’s largest city, with a population of more than nine million inhabitants. It consists of 23 special wards and over 30 towns, cities, and villages. The five wards of Chuo, Shibuya, Shinjuku, Minato, and Chiyoda form Tokyo’s central business district. These districts boast the highest average land prices and rents for office space in the city. Tokyo is the leading office market in Japan, and a large proportion of office buildings are concentrated there.

Office buildings in Tokyo

The floor space of office buildings with a floor size of 100 tsubo or more in the central business districts of Tokyo reached over 14 million tsubo in 2023, equal to about 46.6 square kilometers. Most of the existing office building stock in Tokyo was completed between 1982 and 1990. During this time, Japan experienced an asset price bubble that led to a real estate development boom.

Although the supply of new office space in Tokyo is projected to decline, some major office construction projects are scheduled to be completed in the coming years. Torch Tower, for example, will become Japan's tallest building, with a height of 390 meters, upon its completion in 2028.