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Tokyo office vacancies up, rents up in December

January 8, 2009
By Ken Worsley


According to data released today by consultancy Miki Shoji, vacancies at office spaces in downtown Tokyo rose 0.16% in December against a month ago, to 4.72%. Vacancies in downtown Tokyo have now increased for 11 consecutive months.

Compared to December 2007, downtown Tokyo vacancy rates are now up by 2.07%.

While vacancies continued to rise, average office rents rose 0.85% year-on-year, to 22,186 yen per tsubo (about 3.3 square meters). However, December rents were 0.72% lower than November, and average rents have fallen for four consecutive months.

In downtown Osaka, office vacancies rose 2.11% year-on-year to 6.82%. In downtown Nagoya, office vacancies rose 1.98% to 8.48%.

Filed Under Economic Reports, Real Estate 

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