New office supply in Tokyo to reach 1.72 million sqm in 2020
According to Mori Building’s latest office market report for Tokyo’s 23 wards, the office vacancy rate at the end of 2020 is forecast to reach 2.3%, a 0.3 point increase from the forecast for the end of 2019. This would be the second year in a row to see an increase in vacancy rates, although the level remains historically low.