Tokyo, May 16, 2017 - CBRE today released its preliminary April 2017 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.
In April 2017, all three major cities saw their Grade A office vacancy rate decline. In Tokyo it fell 0.4 points month-over-month (m-o-m) to 3.8%, in Osaka 0.5 points to 0.6%, and in Nagoya 0.8 points to 4.4%. For Grade A Assumed Achievable Rents, Tokyo buildings were up 0.3% m-o-m, Osaka rents were up 0.7% m-o-m, and Nagoya rents were up 0.6% m-o-m.
With regard to All-Grade vacancy rates, Tokyo's 23 wards were down 0.1 points m-o-m to 2.3%, Osaka was down 0.5 points m-o-m to 2.7%, and Nagoya was down 0.4 points m-o-m to 3.5%. 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 |
□ Definitions of Grades |
■ Grade A |
CBRE’s next press release on the office market is scheduled for June 8, 2017.
ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
Please visit our global website at www.cbre.com or our Japan office website at www.cbre.co.jp/en.
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.