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TOKYO 23 WARDS | Office Stock Pyramid 2019

Xymax Real Estate Institute hereby releases its report on the Office Stock Pyramid 2019 covering the Tokyo 23 Wards. The Office Stock Pyramid is a survey of buildings with a gross floor area of at least 300 tsubo used mainly for offices and indicates the breakdown of the rentable area and the number of buildings by size of the building and age. The Osaka City version*1 has also been released on the same day.

  1. *1OSAKA CITY | Office Stock Pyramid 2019, published January 23, 2019
    https://www.xymax.co.jp/english/research/release/190123_2.html

1 tsubo = approx. 3.3 sq m

SUMMARY OF RESULTS
  1. Comparison between Small & Medium-Sized Buildings and Large Buildings
    • The office stock at the end of 2019 is 12.81 million tsubo on a rentable area basis, with small & medium-sized buildings and large buildings accounting for roughly the same amount: 6.05 million tsubo (47%) and 6.76 million tsubo (53%), respectively.
    • On the basis of the number of buildings, the office stock is 9,206 buildings, of which small & medium-sized buildings account for 92% (8,459 buildings).
    • The average age of the buildings is 30.9 years for the entire stock, 31.6 years for small & medium-sized buildings and 23.3 years for large buildings, indicating that small & medium-sized buildings are aging in particular.
  2. Comparison between the Five Central Wards and the 18 Peripheral Wards
    • The five central wards (Chuo, Chiyoda, Minato, Shibuya and Shinjuku Wards) have a rentable area of 9.65 million tsubo and 6,782 buildings, which are approximately three-fourths of the stock in all the wards, while the 18 peripheral wards have a rentable area of 3.16 million tsubo and 2,424 buildings.
    • In terms of building size in the five central wards, small & medium-sized buildings and large buildings account for 4.48 million tsubo (46%) and 5.17 million tsubo (54%) of rentable area, respectively, and 6,227 buildings (92%) and 555 buildings (8%), respectively.
    • In terms of building size in the 18 peripheral wards, small & medium-sized buildings and large buildings account for 1.57 million tsubo (50%) and 1.59 million tsubo (50%) of rentable area, respectively, and 2,232 buildings (92%) and 192 buildings (8%), respectively.
    • The average building age is 31.2 years for the five central wards and 30.0 years for the 18 peripheral wards, indicating that there is no significant differences between the two areas.
  3. Comparison with 2000
    • Compared to the end of 2000, the rentable area will increase by approximately 3.0 million tsubo (approx. 30%) and the number of buildings by approximately 420 (approx. 5%).
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