Tokyo Grade A rents decline for first time since August 2013 : CBRE
CBRE has 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
■GRADE A-MINUS VACANCY RATE