Tokyo, February 9, 2017 - CBRE today released its preliminary January 2017 data on office vacancy rates and average assumed achievable rents in Japan’s three major cities: Tokyo, Osaka, and Nagoya.
In January 2017, the Grade A office vacancy rate in Tokyo was up 1.5 points month-over-month (m-o-m) to 4.3%. Meanwhile, the Osaka Grade A vacancy rate was down 0.9 points to 1.9%, and the Nagoya Grade A vacancy rate was down 1.9 points to 2.1%. Assumed Achievable Rents for Tokyo Grade A buildings were down 0.1% m-o-m, the first time rents have declined since August 2013. Osaka Grade A rents were up 0.5% m-o-m and Nagoya Grade A rents were flat m-o-m.
With regard to All-Grade vacancy rates, Tokyo's 23 wards were up 0.4points m-o-m to 2.7%, Osaka was down 0.7points m-o-m at 3.2%, and Nagoya was down 0.8 points m-o-m to 3.3%. For further details on each city, please refer to the following tables and charts.
■ Grade A Vacancy Rate
■Grade A Assumed Achievable Rent
Source: CBRE
■Grade A-Minus Vacancy Rate
■Grade B Vacancy Rate
■All-Grade Vacancy Rate
Source: CBRE
■Tokyo
Source: CBRE
■Osaka
Source: CBRE
■Nagoya
Source: CBRE
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 March 8, 2017.
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