Tokyo Grade A Vacancy Rate Rebounds to 2% Level

Tokyo, February 15, 2018 - CBRE today released its preliminary January 2018 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.

In January 2018, the Grade A office vacancy rate in Tokyo was up 0.5 points month-over-month (m-o-m) to 2.3%, the Osaka Grade A vacancy rate stayed flat m-o-m to 0.3%, and the Nagoya Grade A vacancy rate was down 0.3 points m-o-m to 2.0%. Assumed Achievable Rents for Tokyo Grade A buildings were up 0.1% m-o-m, Osaka Grade A rents stayed flat m-o-m, and Nagoya Grade A rents were up 1.0% m-o-m.

With regards to All-Grade vacancy rate, Tokyo's 23 wards stayed flat m-o-m to 1.5%, Osaka was down 0.4 points m-o-m to 2.1%, and Nagoya was down 0.4 points m-o-m to 2.2%.

For further details on each city, please refer to the following tables and charts.

■ Grade A Vacancy Rate

Source: CBRE

■ Grade A Assumed Achievable Rent

Source: CBRE

■ Grade A-Minus Vacancy Rate

Source: CBRE

■ Grade B Vacancy Rate

Source: CBRE

■ All-Grade Vacancy Rate

Source: CBRE

■ Tokyo

Source: CBRE

■ Osaka

Source: CBRE

■ Nagoya

Source: CBRE

Survey Outline

CBRE’s next press release on the office market is scheduled for March 8, 2018.