Vacancy rates in Tokyo and Kanagawa have been steadily climbing due to an oversupply of ‘apaato’-type rental buildings (low-rise blocks of rental flats usually built from wood or light-weight steel) in recent years.
According to TAS Corp, vacancy rates for wood-frame or light-steel-frame apartment buildings are over 30% in the greater Tokyo area, and as high as 37% in Kanagawa Prefecture. In other words, 1 in 3 units in ‘apaato’-type rental buildings are vacant.
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