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Next are trends in the vacancy rate and rents.
The vacancy rate continued to remain low at 0.2% at the end of June 2019 on the back of steady demand. The vacancy rate is calculated based on the number of occupancies.
The average monthly rent was 25,180 yen per tsubo at the end of June 2019, a rise of about 680 yen, or around 2.8%, from the end of March 2019. This increase was mainly due to contribution by Shibuya Solasta and rent increases for existing buildings resulting from the renewal of contracts.
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