Office Stock Pyramid 2016
Xymax Real Estate Institute compiled the Office Stock Pyramid 2016 of Tokyo 23 Wards (Figure 1). This pyramid chart, similar to the population pyramid representing the distribution of age groups and gender, shows a distribution of large buildings and small and medium buildings in Tokyo 23 wards. This chart compares the rentable area and the number of buildings by building age and shows the proportion of each.
Our previous study, as of 2014, included office buildings that are less than 50 years old. In this 2016 study, we included office buildings that are 70 years old or less, meaning those constructed in the post-war period.
Key Findings
- ● Tokyo 23 Wards office stock totaled 11.95 million tsubo in the rentable area basis.
Small and medium buildings account for 46% while large buildings account for more than half, 54%. - ● Tokyo 23 Wards office stock totaled 7,803 buildings in the number of building basis.
Over 90% of the buildings are small or medium buildings. - ● Entire stock is 27.8 years old on average. Small and medium buildings are 28.4 years old while large buildings are 22.0 years old. Stock is aging; small and medium buildings in particular.
- ● Not many small and medium buildings were constructed after the economic bubble; over 80% are more than 20 years old in both the rentable area basis and the number of building basis.
- ● Large buildings that are more than 20 years old slightly exceed those less than 20 years old in the number of building basis but not much difference in the rentable area basis. This indicates that supply of large buildings continued after the burst of the economic bubble.
Large Building: 5,000 tsubo or larger GFA / Small-Medium Building: 300-5,000 tsubo GFA / 1 tsubo ＝ 3.3 sqm
