Regional Japanese Office Markets

Inhalt

As the global pandemic persists, the fundamentals of investment-grade offices have been gradually softening. For instance, whilst rental growth has slowed, there have also been cases of extended free rent periods and building owners lowering target rents. Vacancy has gradually increased, though performances diff er depending on offi ce location and quality. As for rents, growth was strongest in Fukuoka in 2H/2020 at 3.8% year-on year (YoY), followed by Nagoya at 2.7% YoY. Although Osaka is the laggard, it still achieved 2.0% growth YoY.