Real estateVacancy Rates in Five Major Wards of Tokyo Declined for Three Consecutive Months

3092 min

On September 8, Building Group announced the results of a survey of office buildings in six major metropolitan areas (Tokyo, Nagoya, Osaka, Fukuoka, Sapporo, and Sendai) nationwide for September 2019. The survey targets are office buildings with a vacancy of 100 tsubo or more and a contracted rent for 100 to 300 tsubo.

The average vacancy rate in the five major Tokyo wards (Chiyoda Ward, Chuo Ward, Minato Ward, Shinjuku Ward, Shibuya Ward) decreased to 1.98% (down 0.01 points from the previous month) for the third consecutive month.

Separated by ward (suffix “-ku”), Chiyoda-ku 1.46% (down 0.16 points), Chuo-ku 2.40% (up 0.08 points), Minato-ku 2.21% (up 0.12 points), Shinjuku-ku 2.30% (down 0.11 points), and Shibuya-ku 1.64% (down 0.01 points).
The estimated contracted rent per tsubo is 21,940 yen (up 20 yen).

In other cities, Nagoya has a vacancy rate of 1.42% (down 0.26 points), rent is 11,578 yen (down 245 yen), Osaka 1.24% (down 0.13 points), rent 9,795 yen (down 118 yen), Fukuoka 1.45% (up 0.34 points) ・ rent ¥13,650 (up ¥153), Sapporo 3.27% (down 0.43 points) ・ rent ¥10,522 (down ¥120), and Sendai 1.94% (up); the rent was ¥10,435 (up ¥381).