Overall market is on a moderate recovery but increasingly polarized between winners and losers depending on how well office spaces meet the needs of tenants seeking to move for positive purposes.
Xymax Real Estate Institute releases the fourth quarter 2014 results of the office space market indices: Vacancy Rate, New Contract Rent Index, Contract Rent DI, Ratio of Free Rent Granted and Average Free Rent (Month).
Indices were released separately before but are combined into one report since the previous quarter to help a better understanding of the market. The vacancy rent data is a new addition in this quarter.
Tokyo 23 Wards office space market is gradually recovering; vacancy rates down, rents up and free rents down on the back of strong office demand and limited new supply.
The market is increasingly more polarized between buildings: those that meet the needs of good-performing companies who are seeking to relocate their offices for the purposes of achieving better location, space expansion and/or upgrades have reduced vacant spaces and increased rents while those that failed to meet such needs have decreased rents.
- Explanations for the results of each index are available in the PDF file.
- Summary of the indices is available on 7. Index Summary.
- Historical quarterly data is available on 8. Numerical Data for Entire Period.