Investor Presentaiton
Market Review Leasing Market~
Office
(%)
10.00
Vacancy Rate
Tokyo Central Five Wards
(\/Tsubo)
22,901
9.43
23,000
22,000
8.00
6.49
21,000
20,000
6.00
19,000
18,000
4.00
17,000
2.49
2.00
16,000
1.49
15,000
14,000
0.00
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22
Average Monthly Rent
Tokyo Central Five Wards
16,207
Office Building Supply
Tokyo Central Five Wards
('000 Tsubo)
23,014
600
■New supply
Forecast
500
400
20,250
300
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22
Source: Prepared by NREAM based on data from Miki Shoji Co., Ltd.
Residential
Net Population Inflow
(12-month moving average)
200
100
0
'17
'18
'19 '20
'21
'22
'23 '24 '25 '26
Source: Prepared by NREAM based on results of surveys by brokers, etc.
Rent and Vacancy Rate Matrix
(Tokyo Central Five Wards)
Rent(¥)
23,000
Q1'20 1.5%
Previous peak
Q2 '08
(Number
Of people)
10,000
Tokyo
Osaka
(Right axis)
Aichi
(Right axis)
(Number
Of people)
09Q1=100
3.49%
Q2'22
Rental Condominium Rent Index
(Tokyo's 23 wards)
Single type (18 m² - 30 m²)
Compact type (30 m² 60 m²).
22,000
6.39%
8,000
125
2,000
Family type (60 m² - 100 m²)
21,000
20,000
19,000
Q3 '01
3.24%
Q2 '03
6,000
8.57%
4,000
1,500
115
1,000
18,000
17,000
2,000
500
105
16,000
Previous bottom
Q2 '12 9.43%
15,000
0
1
2
3
4
5
6
7
8
9
10
95
Vacancy Rate (%)
-2,000
-500
'17
'18
'19
'20
'21
'22
'17
'18
19.
120
'21
122
Source: Prepared by NREAM based on data from Miki Shoji Co., Ltd.
Source: Prepared by NREAM based on data from Ministry of Internal Affairs and Communications
Source: Prepared by NREAM based on data from At Home Co., Ltd. and
Sumitomo Mitsui Trust Research Institute Co., Ltd.
99
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