Tokyo, June 8 2017 - CBRE today released its preliminary May 2017 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.
In May 2017, the Grade A office vacancy rate in Tokyo was up 0.1 points month-over-month (m-o-m) to 3.9%. Meanwhile, the Osaka Grade A vacancy rate was down 0.1 points to 0.5%, and the Nagoya Grade A vacancy rate was up 0.4 points to 4.8%. Assumed Achievable Rents for Tokyo Grade A buildings were up 0.6% m-o-m, Osaka Grade A rents were up 0.5% m-o-m and Nagoya Grade A rents were up 0.2% m-o-m.
With regard to All-Grade vacancy rates, Tokyo's 23 wards were up 0.1 points m-o-m to 2.4%, Osaka was down 0.1 points m-o-m to 2.6%, and Nagoya was down 0.2 points m-o-m to 3.3%. 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 July 19, 2017.
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