Office rentals in Japan slow to respond to monetary easing moves

Tokyo

THE aggressive monetary easing by the Bank of Japan (BOJ) over the past two years has pushed Tokyo stock prices dramatically higher, but it has not had that effect in the Japanese property sector, where capital values and rentals have generally been slow to respond to the stimulus.

Data released on Monday by Japan property specialists Miki Shoji showed that office rentals in Tokyo have risen only gradually - and even then, this growth could be slowed by the prospective launch of a series of new office developments.