Tokyo, November 10, 2015 - CBRE released today its preliminary October 2015 data on office vacancy rates and average assumed achievable rents in three Japanese cities: Tokyo, Osaka, and Nagoya.
In October 2015 the Grade A office vacancy rate in Tokyo was up 0.3points month-over-month (m-o-m) to 4.8%, due to new completion. Meanwhile, Osaka Grade A vacancy rate was up 0.4 points to 5.0%, and the Nagoya Grade A vacancy rate was up 0.8 points to 2.8%. Assumed Achievable Rents for Tokyo Grade A buildings were up 0.9% m-o-m, the Osaka Grade A rents were up 0.3% m-o-m, and the Nagoya Grade A rents were up 3.3% m-o-m.
With regard to All-Grade vacancy rates, Tokyo's 23 wards were down 0.1 points m-o-m to 3.5%, Osaka was up 0.1 points m-o-m at 5.9%, and Nagoya was down 0.3points m-o-m to 4.1%. For further details on each city, please refer to the following tables and charts.
CBRE’s next press release on the office market is planned for Tuesday, December 8th, 2015.
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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.
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