Tokyo Grade A vacancy rate rises 0.5 points q-o-q to 2.3%. Osaka vacancy rate hits record lows for all grades. Nagoya All-Grade vacancy rate falls 0.6 points q-o-q to 2.0%, also a record low.
CBRE expects the market to gradually shift to occupiers' market in Tokyo, with Tokyo Grade A rents set to fall by 0.4% over the next year as rents are expected to be cut for existing buildings. Osaka Grade A rents are expected to increase by 2.6%. Nagoya Grade A rents are forecast to rise by 1.2% on tight supply-demand balance.