Office vacancy rates shrink while Marunouchi’s rents reach record high

The office vacancy rate in central Tokyo’s five business districts reached a 57-month low, dropping to 3.56% in May, according to office brokerage Miki Shoji. For existing buildings, the vacancy rate was 3.20%, the lowest level since August 2020. In just the span of a month, 15,000 tsubo (49,575 square meters) of office space was taken off the market either by leasing activity.

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