Mitsui Fudosan Financial Overview and Property Sales Business
4. Leasing Business (Office Buildings)
4-1: Market Trends
The rising vacancy rate in central Tokyo has moderated since summer 2009, but the increase continues.
Although supply and demand trends require attention, positive signs include improved corporate earnings.
Office Vacancy Rate
(%)
10.0
8.57%
(03/6,8)
-Market vacancy rate (Central Tokyo 5 wards, large-scale)
Mitsui Fudosan vacancy rate (Tokyo Metro/Parent basis)
8.75% 8.82%
(10/3) (10/4)
8.0
5.8%
6.0
(03/9)
4.0
2.0
0.0
02/3
03/3
04/3
05/3
2.49%
3.9%
(10/3)
(07/11)
0.9%
0.9%
(06/6)
(07/6)
06/3
07/3
08/3
09/3
10/3
Source:
Miki Shoji Co., Ltd.
Trends of Supply Volume of Large-Scale Office Buildings within Tokyo's 23 Wards
(Milllon m²)
2.5
Past supply volume
(annual average)
2.0
Uncompleted
■Completed
2.16
1.03 million m²/year
(total floor space)
Forecast supply volume after '10
(annual average)
1.00 million m²/year
1.5
1.54
(total floor space)
1.53
1.0
1.25-
1.21
1.19
0.99
0.91
0.5
0.72
0.77
0.86 0.85
1.40
0.76
0.65
Source:
0.36
0.45
Mori Building Co., Ltd.
0.0
98 99 00 01 02
03 04 05 06 07 08
09 10 11 12 13
14 (Calendar Year)
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