Sapporo Commercial Vacancy Rate Hits 1% Level For the First Time

Japanese real estate company Miki Shoji released a report last month showing that vacancy rates for commercial buildings in Sapporo have reached an all-time low. The office vacancy rate was 1.9% last month. This is the first time that the vacancy rate in Sapporo has dropped to 1% since records began. While churn was low, vacancies decreased due to companies relocating from the suburbs and the entry of new companies.

The vacancy rate was in the 1% range in all four districts except for the area of Soseigawa. The average rent per tsubo (3.3 sqm) increased to ¥ 9,144, rising for the 27th consecutive month. To read about the current office vacancy rate in Osaka, click here. To read about the current office vacancy rate in Yokohama, click here.

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