Local News

The Fukuoka branch of leasing brokerage firm Miki Shoji revealed the results of its survey showing only two new office buildings are planned to be erected in Fukuoka City’s business districts of Tenjin and the JR Hakata Station area this year. This is a sharp downturn from the 28 buildings that were completed in those areas over the past two years. This total is a result of the collapse of a mini-real estate bubble, though the current low occupancy rates are expected to continue due to oversupply and the poor economy. Miki Shoji thinks competition to attract tenants is going to grow more intense.