Tokyo Grade A Vacancy Rate Unchanged Despite Four New Completions

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

In August 2018, the Tokyo Grade A office vacancy rate was flat month-over-month (m-o-m) at 1.2% despite four new completions; the Osaka Grade A vacancy rate fell 0.1 points m-o-m to 0.1%; and the Nagoya Grade A vacancy rate fell 0.2 points m-o-m to 0.3%. Assumed achievable rents for Grade A buildings increased in Tokyo, Osaka, and Nagoya, at 0.1%, 0.6%, and 0.6% m-o-m respectively.

With regards to the All-Grade vacancy rate, Tokyo's 23 wards remained flat m-o-m at 1.0%, Osaka remained flat m-o-m at 1.7%, and Nagoya fell 0.1 points m-o-m to 1.2%.

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 October 23, 2018.

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