Office vacancy rates down for second month
According to Miki Shoji, office building vacancy rates in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku, and Shibuya) fell 0.11 points at the end of March to 9.04%. This is the second continuous month where vacancy rates have fallen. However, the lower vacancy rates are not a sign of a market recovery but are due to falling office rents.Read more