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JAPAN DATA: Demand for office space in Japan’s has…
By Market News International || September 8, 2011 at 02:50 GMT
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JAPAN DATA: Demand for office space in Japan’s capital has improved
for five months in a row in August. The office vacancy ratio (vacant
office space divided by available space) in central Tokyo fell to 8.65%
at the end of August, posting the lowest level since 8.25% seen in
January 2010, data released by the real estate firm Miki Shoji showed.
An official at the firm said there are signs of an improvement in demand
for office space. Meanwhile, the average office rent per 3.3 square
meters in central wards of the capital, which tends to follow the office
vacancy ratio with a lag of around six months, hit a record low of
Y17,136 in August.
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