JAPAN DATA: Demand for office space in Tokyo improved for three months
in a row in September. Central Tokyo office vacancy ratio (vacant office
space divided by available space) fell to 8.90% at end-September, after
9.17% in August, 9.30% in July and record 9.43% in June, data from real
estate firm Miki Shoji showed. The average office rent per 3.3 square
meters in central Tokyo wards, which tends to follow Tokyo’s office
vacancy ratio with a six-month lag, hit a record low at Y16,675, down
for three months in a row, after Y16,733 in August. A Miki official says
unsure when vacancy will hit bottom, amid major supply of office space
planned for October.