Tokyo Office Vacancies Hit Record High

Vacant office space in central Tokyo totaled at a record-high of about 1.79 million square as of the end of November, according to office broker Miki Shoji Co. Office demand has continued shrinking in the Tokyo Metropolitan area, with 7.98% of central Tokyo offices vacant at the end of November. Brand new office buildings were not immune to the downtrend, with the average vacancy rate of those built during the year standing at 21.5%.