C&W: Abenomics and 2020 Olympics boost sentiment in Tokyo’s office market
According to Cushman & Wakefield, landlords of Grade A office buildings in Tokyo sought to boost rents in 2014 by 15-20%. In its latest (April 2015) review of legal firms’ use of office space across the Asia-Pacific region, C&W noted that demand for space had been boosted by Abenomics and Tokyo’s being awarded the 2020 Olympics. The grade A vacancy rate in Tokyo’s CBD has fallen to 2.3%. Some international law firms have returned firms to landlords in response to rent inflation.
Source : 30 April 2015/ C&W/ Tokyo/ OFF