Xymax Real Estate Institute

Vacant Office Space Monthly Report
Tokyo | March 2022
April 6, 2022
(1 tsubo = approx. 3.3 sqm)
Vacant office space data of the 23 wards of Tokyo in March 2022 were as follows:
The vacancy rate in March 2022 was 3.60%, down 0.04 pt from the previous month. The availability rate

was 6.09%, up 0.05 pt from the previous month (Figure 1).
The vacancy rate among the 5 central wards was the highest in the Minato Ward at 4.65%, up from theprevious month. The vacancy rates in the Chuo, Chiyoda, Shinjuku and Shibuya Wards declined (Figure 2).
Vacant space was 422,000 tsubo, a decrease of 6,000 tsubo from the previous month (Figure 3).

In terms of the increase and decrease in vacant space, the increase outweighed the decrease for the firsttime in two months, with an increase of 43,000 tsubo and a decrease of 49,000 tsubo (Figure 4).

Figure 1: Vacancy & Availability Rates (All Sizes)
Vacancy rate

8%

Figure 2: Vacancy Rate (5 Central Wards)

Availability rate

6%
4%
2%

2022/32021/92021/122021/112021/122022/12022/2

2022/3

Vacancy rate

3 .6 8 %3 .5 8 %3 .5 6 %3 .6 4 %3 .6 0 %Availability rate

5 .8 7 %5 .8 0 %5 .8 4 %6 .0 4 %6 .0 9 %Figure 4: Increase & Decrease in Vacant Space(23 Wards, All Sizes)

Vacant space

2021/112021/122022/12022/22022/34 3 1 ,0 0 0

4 1 9 ,0 0 0

4 1 7 ,0 0 0

4 2 8 ,0 0 0

4 2 2 ,0 0 02022/32022/12021/112021/92021/72021/112021/122022/12022/22022/3

Increase (tsubo)

50,00041,000

51,00052,00043,000Decrease (tsubo)

45,00053,00053,00041,00049,000Vacant Office Space Monthly Report | Tokyo | March 2022
The contents of this report are as of the time of writing. Xymax Real Estate Institute does not guarantee their accuracy or completeness.
This report may not be reproduced, cited, transmitted, distributed, or reprinted without prior permission of Xymax Real Estate Institute.

Copyright © 2022 Xymax Corporation. All rights reserved.

Decrease

2021/32021/1

2020/32022/32022/12021/112021/92021/702021/502021/320

2021/1100

2020/1140

2020/9200

2020/760

2020/580

300

2020/3400

Increase

2021/5(1,000 tsubo)
100

2020/11422,000 tsubo

2020/9(1,000 tsubo)

500

2020/7

Figure 3: Vacant Space (23 Wards, All Sizes)

2020/52021/32021/62020/92020/122020/32020/6

2019/92019/122019/3

2019/62018/92018/122018/3

2018/62017/92017/122017/32017/60%

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Xymax Real Estate Institute

The vacancy rate by area was 3.54% in the 5 central wards and 3.77% in the 18 peripheral wards. The
availability rate was 6.13% in the 5 central wards and 5.95% in the 18 peripheral wards (Figure 5).

The vacancy rate by building size was 3.63% among large buildings (gross floor area (GFA) of 5,000 tsuboor more) and 3.56% among small & medium buildings (GFA of 300–4,999 tsubo). The availability rate was
6.82% among large buildings and 5.26% among small & medium buildings (Figure 6).

Figure 5: Vacancy & Availability Rates (by Area)
8%

Figure 6: Vacancy & Availability Rates (by Size)

5 central wards

18 peripheral wards

Large buildings

Small & medium buildings

5 central wards availability rate18 peripheral wards availability rate

Large buildings availability

Small & medium buildings availability

8%6%2022/32021/92021/122021/32021/62020/92020/122020/32020/6

2019/92019/122019/3

2019/62018/92018/122018/3

2018/62017/92017/122017/32022/32021/92021/122021/32021/62020/92020/122020/32020/6

2019/92019/122019/3

2019/62018/92018/122018/30%
2018/60%

2017/92%

2017/122%

2017/34%

2017/64%

2017/66%2021/112021/122022/12022/22022/32021/11 2021/12

2022/12022/22022/3

Vacancy (5 central)

3 .6 8 %3 .5 7 %3 .5 7 %3 .6 0 %3 .5 4 %Vacancy (large)

3 .6 8 %3 .5 4 %3 .4 8 %3 .6 3 %3 .6 3 %Vacancy (18 peripheral)

3 .7 0 %3 .6 0 %3 .5 0 %3 .7 8 %3 .7 7 %Vacancy (small & medium)3 .6 8 %3 .6 2 %3 .6 5 %3 .6 7 %3 .5 6 %Availability (5 central)

6 .0 0 %5 .9 6 %5 .9 2 %6 .0 7 %6 .1 3 %Availability (large)

6 .3 8 %6 .3 0 %6 .3 1 %6 .6 8 %6 .8 2 %Availability (18 peripheral)

5 .4 6 %5 .3 2 %5 .5 9 %5 .9 1 %5 .9 5 %Availability (small & medium)5 .3 0 %5 .2 4 %5 .3 1 %5 .3 0 %5 .2 6 %Vacant Office Space Monthly Report | Tokyo | March 2022
The contents of this report are as of the time of writing. Xymax Real Estate Institute does not guarantee their accuracy or completeness.
This report may not be reproduced, cited, transmitted, distributed, or reprinted without prior permission of Xymax Real Estate Institute.

Copyright © 2022 Xymax Corporation. All rights reserved.

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Xymax Real Estate InstituteFor further inquiries please contact below:
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Vacant Office Space Monthly Report | Tokyo | March 2022
The contents of this report are as of the time of writing. Xymax Real Estate Institute does not guarantee their accuracy or completeness.
This report may not be reproduced, cited, transmitted, distributed, or reprinted without prior permission of Xymax Real Estate Institute.

Copyright © 2022 Xymax Corporation. All rights reserved.

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