【CBRE】Japan Office MarketView Q3 2024

The All-Grade vacancy rate slipped by 0.1 pp. q-o-q to 4.0% in Q3 2024, the fourth consecutive quarterly decline. Net absorption hit 60,000 tsubo, outpacing the quarter’s 53,000 tsubo of new supply. While several new buildings commenced operations at less than full capacity, vacancies in existing buildings were filled during the quarter, particularly those in relatively new buildings.

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