2020 Office supply in Tokyo reaches 2nd highest level in history

According to a report published by Mori Building on May 25, a total of 1.87 million square meters (approx. 20 million sq.ft) of new office space is expected to be supplied in Tokyo’s 23 wards in 2020. This is the second-highest level seen since the company began collecting data in 1987. Despite the large supply, most of the new office space is already leased.

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Tokyo office vacancy rate rises for 2nd month

The office vacancy rate across Tokyo’s prime business districts increased for the second month in a row, with a 0.06 point increase to 1.56% in April. Chiyoda and Chuo wards saw vacancy rates shrink from the previous month. Chuo’s vacancy rate reached a new record low of 1.08%, down 0.06 points from March and down 0.94 points from April 2019.

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Never waste a good crisis: Where are the current opportunities in Japan’s real estate market?

We have been receiving quite a few inquiries over the past couple of months from buyers looking to pick up some bargains amidst the current turmoil. After several years of being a strong sellers’ market, the real estate market in Japan has made an abrupt about-turn and has shifted into a buyers’ market from around mid-March onwards.  

And yes, while there are some bargain sales out there, buyers need to know where to look.

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