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Next are the trends in the vacancy rate and rents.
The vacancy rate continued to remain low, at 0.4% at the end of December 2019, on the back of steady demand.
The vacancy rate is calculated based on the number of occupancies.
The average monthly rent was 26,090 yen per tsubo at the end of December 2019, a rise of 1,590 yen from the end of March 2019 and, more recently, a rise of approximately 780 yen from the end of September 2019. This was thanks to price increases through the revision of contracts for existing buildings and proceeds from new properties such as Shibuya Solasta and Shibuya Fukuras.
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