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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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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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 website at www.cbre.co.jp
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