According to Miki Shoji’s Office Report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 5.34% in April, up 0.04 points from the previous month but down 1.30 points from last year. This is the first time in 21 months that the rate has increased from the previous month. Two large-scale office buildings were completed last month, which was considered to be a contributing cause to the increase in the vacancy rate.
The vacancy rate in brand new buildings was 33.21%, up 2.85 points from the previous month and up 13.76 points from last year.
The Tokyo Nihonbashi Tower was completed in Chuo-ku in April. The 35-storey, 180m tall tower has a total floor area of 133,334 sqm (1.4 million sq ft).
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