According to CBRE, Tokyo's office market inventory has further tightened in February, while both Osaka and Nagoya markets uptick slightly.
In February 2016, Grade A office vacancy rate in Tokyo was down 0.1 points month-over-month (m-o-m) to 3.0%. The Osaka Grade A vacancy rate was up 0.1 points to 4.8%, and the Nagoya Grade A vacancy rate was up 0.1 points to 3.7%. For assumed Achievable Rents, Tokyo Grade A buildings were up 0.4% m-o-m, and Osaka and Nagoya Grade A rents were both flat m-o-m.
With regard to All-Grade office vacancy rates, Tokyo's 23 wards were down 0.2 points m-o-m to 2.7%, Osaka was down 0.1 points m-o-m at 5.3%, and Nagoya was up 0.1 points m-o-m to 4.3%.
According to CBRE, demand for office space in Tokyo remains stable across a wide range of sectors in 2017. One Grade A building was completed during the second quarter, with several large units still available.
CBRE is reporting that investors in Asia Pacific real estate in 2017 remain heavily focused on yield spreads when seeking assets as investment intentions, and are moving further away from capital appreciation strategies.
According to the newly released Last Mile / City Logistics Report from CBRE, the rapid rise of e-commerce has driven the most disruptive movement to the industrial & logistics industry, transforming the way we think about industrial real estate.