Tokyo Office Vacancy Rates for August
According to Miki Shoji, the commercial vacancy rates in Tokyo's central 5 wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) in August dropped 0.13 points from the previous month to 9.17%. The vacancy rate on brand new buildings dropped 3.48 points to 30.16%.
In Shinjuku-ku, the vacancy rate dropped 1.05 points to 10.85%, as large foreign financial corporations began to consolidate their various offices into one space. In Minato-ku, the rate increased by 0.48% to 10.10%. This was partly due to the completion of Ark Hills Sengokuyama Mori Tower. The 47 storey tower has a total floorspace of 43,423 tsubo (143,296 sqm).Read more