Nagoya Office Market Report: Vacancy Rate Dips Slightly

Sanko Estate Co., Ltd. has released its 'Office Market June 2026 Nagoya' report, summarizing the office rental situation in Nagoya City for May 2026, including vacancy rates, available floor area, and asking rents.

[Branch Manager's Perspective] While new supply in 2026 is expected to be around 30,000 tsubo, large-scale buildings scheduled for completion are already seeing progress in tenant attraction. Consequently, leasing activities are shifting toward buildings set for completion in 2027, with commitments increasing for prime locations. Additionally, supply is expected to remain at a low level from next year onwards, making choices for new or recently built buildings likely to become even more limited. There is a growing consensus among tenants that now is the time for decision-making. (Tetsuya Senoo, Nagoya Branch Manager)

[Nagoya City: All-Scale Buildings Vacancy & Potential Vacancy Rates] The vacancy rate fell slightly to 3.00%, down 0.08 points from the previous month. The absorption of vacant floor space progressed due to internal expansions in major areas and relocations following building reconstructions. A sub-3% vacancy rate, not seen since June 2020, is imminent. The potential vacancy rate was 4.76%, down 0.19 points from the previous month.

[Nagoya City: All-Scale Buildings Asking Rent & Available Area] Asking rent reached 13,076 yen/tsubo, an increase of 102 yen/tsubo from the previous month. Rents have risen from the previous month and are showing a trend of hovering around 13,000 yen/tsubo.