September 09, 2010

Japanese customers see Tokyo office rents fall 10% on the year and vacancy rates rise to 9%

"The office vacancy rate in central Tokyo rose 0.07 of a percentage point on the month to a record 9.17% at the end of August...The average rent for the five wards (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) came to 17,832 yen per 3.3 sq. meters, down 10.24% (2,035 yen) on the year and 0.27% (49 yen) on the month."


Source:Tokyo Office Vacancies Rise To Record 9.17% In Aug
Thursday, September 9, 2010
Nikkei
http://e.nikkei.com/e/fr/tnks/Nni20100909D09SS815.htm

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