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JAPAN DATA: The office vacancy ratio (vacant office..
By Market News International || May 12, 2011 at 03:45 GMT
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JAPAN DATA: The office vacancy ratio (vacant office space divided
by available space) in central Tokyo fell to 8.92% at the end of April,
down from a record high 9.19% marked in March, data released by real
estate firm Miki Shoji showed. The April vacancy ratio was the lowest
since 8.91% in December 2010. An official at Miki Shoji said signing of
office leases, which had been suspended in March after the earthquake
disaster, was resumed in April, but that new demand was slow to emerge.
The average office rent per 3.3 square meters in central wards in the
capital hit a record low of Y17,419 in April, below the previous record
low of Y17,495 in March. The official said demand for office space is
expected to fluctuate for the time being.
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