All-grade rents also inched up by 0.8%.
Rents among investment-grade offices in Osaka grew by 5.5% HoH to JPY24,000 per tsubo in 1H/2025, according to a recent Savills report.
“The strong demand for high-grade office spaces has driven rental increases in several office properties, especially in recent additions to the market, where rents have risen from the high JPY30,000 to above JPY40,000 per tsubo, with top rents reaching JPY43,000 per tsubo.”
Here’s more from Savills:
All-grade rents increased by 0.8% HoH to JPY12,200 per tsubo. Umeda submarket witnessed the largest increase of 1.7% HoH. Minami-Mori saw a rental decline of 0.7% HoH, while all other submarkets experienced rental growth.
Vacancy
Vacancy The market absorbed the significant new office supply in 2024 well, with investment-grade vacancy rates tightening by 1.3ppts HoH to 2.6% in 1H/2025. The YodoyabashiHonmachi submarket is likely to face temporary disruptions from the incoming substantial new supply in 2025.
That said, the submarket is expected to be the centre of attraction for tenants seeking high-quality office spaces, since it is the only submarket in Osaka with large premium office additions in 2025, supporting steady leasing activities well into 2026.
All-grade office vacancy rates decreased further by 0.5ppts HoH to 3.8%. The ShinOsaka submarket recorded the largest improvement, with vacancy tightening by 1.5ppts HoH to 2.7%, reaching its lowest level since just before the pandemic, driven by strong leasing activity.
