Grade A Rents in Tokyo Sees an Uptick with Vacancy Rate at Sub-2%

Tokyo, June 7, 2018 - CBRE today released its preliminary May 2018 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.

In May 2018, the Grade A office vacancy rate in Tokyo was down 0.2 points month-over-month (m-o-m) to 1.8%. The Grade A vacancy rate for both Osaka and Nagoya remained flat m-o-m at 0.2% and 0.9% respectively. Assumed achievable rents for Tokyo Grade A buildings were up 0.1% m-o-m and Osaka Grade A rents were up 0.7% m-o-m. Nagoya Grade A rents remained flat m-o-m.

With regards to the All-Grade vacancy rate, Tokyo's 23 wards were down 0.1 points m-o-m to 1.2%, and Nagoya was down 0.1 points m-o-m to 1.5%, while Osaka remained flat m-o-m at 1.8%.

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 July 23, 2018.

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