Xymax Real Estate Institute summarized the results of Contract Rent Diffusion Index (DI) of office space in Tokyo 23 Wards and Central Three Wards for the quarter ending June 2014.
Contract Rent DI for Q2 2014 was +19 for both Tokyo 23 Wards and Tokyo Central Three Wards, two straight quarters of increases, up by 10 points and 11 points, respectively.
Increased number of tenants relocated for positive reasons such as expanding office or improving the image of the company. In leasing brokerage activities, some office spaces received several applications from would-be tenants. Trends of rent increase have been more popular amid improved market balance following the absorption of vacant spaces.