Office vacancy rates in August 2014 - Miki Shoji
According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.08% in August, down 0.18 points from the previous month and down 2.14 points from last year.
The vacancy rate in brand new office buildings was 18.17%, up 0.76 points from the previous month and up 0.24 points from last year.Read more
Secondhand apartment prices in July 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,740,000 Yen in July, up 0.3% from the previous month and up 4.7% from last year. The average apartment age was 22.3 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 58,040,000 Yen, up 0.8% from the previous month and up 8.9% from last year. The average apartment age was 22.2 years.
The average price across greater Tokyo was 28,250,000 Yen, down 0.2% from the previous month but up 2.2% from last year. The average building age was 21.6 years.Read more
July rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,558 Yen/sqm in July, down 2.0% from the previous month but up 1.0% from last year. The average apartment size was 59.92 sqm and the average building age was 18.9 years.
The average rent in Tokyo’s 23-ku was 3,174 Yen/sqm, showing no change from the previous month and up 2.5% from last year. The average apartment size was 56.38 sqm and the average building age was 17.1 years.Read more
Office vacancy rates in July 2014 - Miki Shoji
According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.20% in July, down 0.25 points from the previous month and down 2.09 points from last year. This is the lowest level seen since March 2009 when vacancy rates were 6.05%.
The vacancy rate in brand new buildings was 17.41%, down 0.68 points from the previous month but up 4.69 points from last year.
The following office buildings were completed in July:
- Mercros Building, Nihonbashi, Chuo-ku: 9 floors; 6,980 sqm floorspace.
- Tamachi Front Building, Shiba, Minato-ku: 9 floors; 5,730 sqm floorspace.
- PMO Shiba Koen, Minato-ku: 8 floors; 3,500 sqm floorspace.
Secondhand apartment prices in June - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,630,000 Yen in June, down 0.3% from the previous month but up 4.8% from last year. This is the first time in 7 months that prices have fallen from the previous month, although they continue to remain above 2013 levels. The average apartment age was 22.0 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,570,000 Yen, down 0.1% from the previous month but up 7.7% from last year. The average apartment age was 22.0 years.
The average price across greater Tokyo was 28,310,000 Yen, down 0.4% from the previous month but up 2.2% from last year.Read more
Office vacancy rates in June - Miki Shoji
According to Miki Shoji’s office report, the office vacancy rate in Tokyo’s five central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 6.45% in June, down 0.07 points from the previous month and down 2.01 points from last year.
The vacancy rate in brand new buildings was 18.09%, down 2.33 points from the previous month but up 6.49 points from last year.
It is not just large-scale office buildings that are experiencing better conditions, but mid-size buildings are also seeing a boost in demand. All 11 buildings developed under Nomura’s mid-size office brand ‘Premium Midsize Office (PMO)’ are almost fully occupied. Mitsubishi’s renovated small-to-mid sized office building in Kanda is also almost fully occupied. The building has attracted several IT-related tenants who want the freedom to design their own office space. Read more