CBRE: Tokyo office rents up in 1Q15
The 1Q15 Marketview of CBRE Inc found that the vacancy rate for Grade A offices across all 23 wards of Tokyo rose by 1.0pp to 5.1%. Rents, however, were up 2.3% q-o-q at ¥32,950 per tsubo. Rents were also up for Grade A Minus offices (3.2% to ¥22,850 per tsubo) and Grade B offices (1.6% to ¥19,500 per tsubo). Falling vacancy rates for Grade A Minus and Grade B offices have taken the overall vacancy rate for Tokyo offices to 3.9%. This is the first time in six years that the vacancy rate has been below 4.0%.
Source : 31 March 2015/CBRE/Tokyo/OFF