Commercial rents fell by 3.5% in Tokyo in the 1st half of the year

According to Savills’ October 2024 report, retail rents for ground floor stores in Tokyo fell by 3.5% in the 6 months to the end of June 2024. This fall in rental values is explained by the withdrawal from the market of the most qualitative retail locations. “The upward trend in rents has prompted some tenants to acquire their current premises outright from their landlords”, said the study. In the Ginza district, rents have fallen by 11% in a year (to the end of June), in Shinjuku by 12.9% and