Rents for Grade A office in central Tokyo have recovered to 2021 levels, according to Sanko Estate and the NLI Research Institute. Average monthly office rents reached 30,509 Yen per tsubo (9,230 Yen/sqm) in the first quarter of 2025, up 7.1% from the previous quarter and the sixth consecutive quarter to see growth. This is the first time rents have exceeded 30,000 Yen per tsubo since the fourth quarter of 2021.