Office vacancy rates continue to rise in central Tokyo.
Due to the spread of telework, companies are consolidating their offices, and last month it was 5.42%, surpassing 5%, which is the standard for rents to fall, for the second straight month.
Miki Shoji, a major office broker, surveys the vacancy rate and rent of office buildings with an area of 100 tsubo or more every month.
According to this, the vacancy rate of office buildings in five wards of central Tokyo such as Chiyoda Ward and Minato Ward increased by 0.18 points from the previous month on average to 5.42% last month.
The vacancy rate has risen for the 13th consecutive month due to the continued movement to consolidate offices due to the spread of telework due to the spread of the new coronavirus infection.
In addition, it has exceeded 5%, which is the standard for rent reduction, for the second consecutive month.
Looking at the breakdown, Minato Ward, which is said to have many IT companies, accounted for 7.3%, which was higher than in February due to the fact that vacancies remained even after the completion of a large office building.
On the other hand, Shibuya Ward, where companies started to rent new offices, improved slightly from February to 5.49%, and Chiyoda Ward remained flat at 3.85%.