Office Rents Uptick as Vacancies Dip Across Japan in July

Office Rents Uptick as Vacancies Dip Across Japan in July

Commercial News » Tokyo Edition | By Miho Favela | August 21, 2015 9:00 AM ET

According to CBRE data, office vacancy rates and average rents in all three major Japanese cities showed improvement in July 2015.
Grade A office vacancy rate in Tokyo was down 0.4 points month-over-month to 4.4%, the Osaka Grade A vacancy rate was up 0.1 points to 6.2%, and the Nagoya Grade A vacancy rate was down 0.2 points to 1.9%. Assumed Achievable Rents for Tokyo Grade A buildings were up 0.1% month-over-month, the Osaka Grade A rents were up 0.8% m-o-m, while the Nagoya Grade A rents were flat m-o-m.
With regard to all-grade vacancy rates, Tokyo's 23 wards were down 0.1 points m-o-m to 3.6%, Osaka was down 0.3 points m-o-m at 5.8%, and Nagoya was down 0.4 points m-o-m to 4.6%.


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