In January, the Grade A office vacancy rate in Tokyo was down 0.3 points month-over-month to 3.8%, the Osaka Grade A vacancy rate was down 0.3 points to 7.8%, and the Nagoya Grade A vacancy rate increased 0.2 points to 2.8%. Assumed Achievable Rents for Tokyo Grade A buildings were up 1.4% month-over-month, the Osaka Grade A rents were up 1.0% m-o-m, and Nagoya Grade A rents were down 0.2% m-o-m.
With regard to all-grade vacancy rates, Tokyo's 23 wards was down 0.3 points m-o-m to 3.8%, Osaka was down 0.2 points m-o-m to 6.2%, and Nagoya was down 0.2 points m-o-m to 5.5%. For further details on each city, please refer to the following tables and charts.
Survey Outline
| Vacancy Rate | Vacancy is based on the data that was available at the time of compiling the survey |
| Assumed Achievable Rent |
Assumed achievable rent is based on sample surveys of the applicable buildings (inclusive of service charges; not taking into account incentives such as free rent) |
| Definitions of Grades (Tokyo, Osaka, Nagoya) |
Grade A As a general rule, buildings located in regions (*) with a high concentration of office buildings that fulfill the following conditions: typical floor plate of 350 tsubo or more (500 tsubo or more in Tokyo), net floor area of 6,500 tsubo or more, total floor space of 10,000 tsubo or more, and age of less than 11 years (*) Regions with a high concentration of office buildings: Tokyo – centered on the central 5 wards; Osaka – centered on Kita, Chuo and Yodogawa wards; Nagoya – centered on Nakamura, Naka, Higashi and Nishi wards Grade A – Minus (Tokyo only) As a general rule, office buildings located in regions with a high concentration of office buildings that fulfill the following conditions: typical floor plate of 250 tsubo or more, net floor area of 4,500 tsubo or more, total floor space of 7,000 tsubo or more, and structure based on new earthquake resistance standards Grade B As a general rule, office buildings located in regions with a high concentration of office buildings that fulfill the following conditions: typical floor plate of 2,000 tsubo or more (in Tokyo, typical floor plate of 200 tsubo or more and total floor space of less than 7,000 tsubo), and structure based on new earthquake resistance standards All-Grade Rental office buildings within the office area comprising 13 cities nationwide set independently by CBRE, as a general rule with a total floor space of 1,000 tsubo or more and structure based on the new earthquake resistance standards |
CBRE’s next press release on the office market is planned for Thursday March 5, 2015.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Official Twitter account for Japan: @cbrejapan
DISCLAIMER: Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Official Twitter account for Japan: @cbrejapan
Disclaimer
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.