Local News

Record High Rent Amid Fluctuating Vacancy in Fukuoka Offices

Major office brokerage firm Miki Shoji reports a four-month low in the office vacancy rate for Fukuoka’s business district (areas such as Tenjin) as of April 2023. The rate decreased by 0.08 points from the previous month to 5.81%, despite exceeding the 5% oversupply benchmark for the third consecutive month. In the Gion and Gofuku-machi area, between Tenjin and Hakata Station, the vacancy rate rose by 0.20 points to 8.00% due to office relocations to new buildings. Average rent for the Fukuoka business district hit a record high, rising to 11,495 yen per tsubo (approximately 3.3 square meters). A survey by Sanko Estate showed the overall office vacancy rate in Fukuoka city in April fell to 5.19%. Ryuji Nakamura, Sanko Estate’s Fukuoka branch manager, commented on the seesaw trend of vacancies due to relocations to new buildings. Source: Miki Shoji / Sanko Estate / Nikkei

Record High Rent Amid Fluctuating Vacancy in Fukuoka Offices

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Category
Business
Fukuoka City
Published: May 18, 2023 / Last Updated: May 18, 2023

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