Tokyo commercial land prices jump to 33-year high as remote work ebbs

Low office vacancy rates and surge in tourism sustain upward trend Office vacancy rates in Tokyo wards are well below the 5% break-even level for balanced supply and demand. (Photo by Shun Kato) TOKYO — Commercial land prices in the Japanese capital have risen to levels not seen in more than three decades, lifted by strong demand for office space as remote workers return to company buildings.

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