Tokyo Grade A Vacancy Rate Continues To Rise Marginally

Tokyo, March 8, 2018 - CBRE today released its preliminary February 2018 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.

In February 2018, the Grade A office vacancy rate in Tokyo was up 0.1 points month-over-month (m-o-m) to 2.4%, the Osaka Grade A vacancy rate was down 0.2 points m-o-m to 0.1%, and the Nagoya Grade A vacancy rate was down 0.1 points m-o-m to 1.9%. Assumed Achievable Rents for Tokyo Grade A buildings remained flat m-o-m, Osaka Grade A rents were up 1.4% m-o-m, and Nagoya Grade A rents were up 0.8% m-o-m.

With regards to All-Grade vacancy rate, Tokyo's 23 wards were down 0.1 points m-o-m to 1.4%, Osaka was down 0.1 points m-o-m to 2.0%, and Nagoya was down 0.1 points m-o-m to 2.1%.

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 April 18, 2018.