Office vacancy rates in June - Miki Shoji

Iidabashi Grand Bloom
Iidabashi Grand Bloom

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

by Zoe Ward

Office vacancy rates in March - 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 6.70% in March, down 0.31 points from the previous month and down 1.86 points from March 2013. This is the first time since May 2009 that vacancy rates have dropped to the 6% range.

The vacancy rate in brand new buildings was 20.26%, up 0.61 points from the previous month but down 2.98 points from last year. Read more

by Zoe Ward

Office vacancy rates in January - 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 7.18% in January, down 0.16 points from the previous month and down 1.38 points from January 2013. Vacancy rates have been decreasing for the past 7 months.

The vacancy rate in brand new buildings was 14.42%, down 0.08 points from the previous month and down 9.79 points from last year.Read more

by Zoe Ward

Tokyo office market in 2014

In 2014, the total office space expected to hit the market could amount to just half of the level seen in 2012. Meanwhile, vacancy rates are expected to continue their decline this year as companies shift to new offices and expand operations.

According to Miki Shoji, approximately 844,700 sqm of new office space is expected to be supplied in Tokyo's central five business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) in 2014. This is a 4% increase from 2013, but is only half of the level seen in the last peak in 2012. Read more

by Zoe Ward

Office vacancy rates in November - Miki Shoji

According to Miki Shoji's office report, the office vacancy rate in Tokyo's 5 central business districts (Chyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.52% in November, down 0.04 points from the previous month and down 1.24 points from last year. This is the fifth month in a row where vacancy rates have fallen.

The vacancy rate in brand new buildings was 16.71%, down 0.33 points from the previous month and down 14.15 points from last year.Read more

by Zoe Ward

Office vacancy rates in October

According to Miki Shoji's Office Report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.56% in October, down 0.34 points from the previous month and down 1.18 points from last year.

This is the lowest level seen in over 4 years. Read more

by Zoe Ward

Office vacancy rates in September - Miki Shoji

PMO Kanda TsukasamachiAccording to Miki Shoji's office report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.90% in September, down 0.26 points from last month and down 1 point from last year. This is the third month in a row where rates have fallen. It is the first time since November 2009 that vacancy rates have been in the 7% range.

The vacancy rate in new buildings was 18.12%, up 0.19 points from last month but down 11.50 points from September 2012.Read more

by Zoe Ward