HIGHLIGHTS

 
Tokyo All-grade vacancy rate rose 0.6 point q-o-q to 1.5%, the third consecutive quarterly rise. Tokyo Grade A vacancy rate rose 0.3 points q-o-q to 1.2%, the second consecutive quarterly rise. Tokyo All-Grade rent fell by 1.7% q-o-q to JPY 22,870 per tsubo, the third consecutive quarterly decline. Also, Tokyo Grade A rents fell by 2.7% q-o-q to JPY 37,650 per tsubo, the third consecutive quarterly decline.
Osaka Grade A vacancy rate rose 0.4 point q-o-q to 1.0%, the second consecutive quarterly rise. Osaka Grade A rents fell by 0.2% q-o-q to JPY 26,400 per tsubo, the first decline in two quarters.
Nagoya Grade A vacancy rate rose 0.3 points q-o-q to 1.3%, the first rise in three quarters. Nagoya Grade A rents fell by 0.2% q-o-q to JPY 28,050 per tsubo, the third consecutive quarterly decline.