Office vacancies worsen for 5th month
Tokyo’s office vacancy rate worsened for the fifth month in a row in July as the commercial sector feels the pain of the coronavirus pandemic. According to office brokerage Miki Shoji, the office vacancy rate in Tokyo’s five business districts reached 2.77% in July, up 0.80 points from the previous month, and up 1.06 points from last year. This is the highest vacancy rate seen since March 2018 when it was 2.80%, and the highest monthly jump since the company began recording data in 2002.