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OSAKA CITY | Supply of New Office Space 2018 & Office Stock Pyramid 2018

Xymax Real Estate Institute hereby releases its report on the Supply of New Office Space 2018 and Office Stock Pyramid 2018 covering Osaka City. The volume of new office supply, which is an aggregation of rentable areas of offices that are newly constructed in the coming years (hereinafter, “new supply”), indicates the direct impact on the market balance in the future. The Office Stock Pyramid is an aggregation of the rentable areas of office buildings in the market and indicates the breakdown of the office building stock (rentable area and number of buildings) by size of the building (small & medium/large) and by age, as well as the proportion of large and small/medium-sized buildings and their age composition.

1 tsubo = approx. 3.3 sq m

  1. OSAKA CITY | Supply of New Office Space 2018
    • New supply in 2018–2021 is expected to be an average of 4,000 tsubo per year, less than one-seventh of the annual average of the past 10 years (31,000 tsubo).
    • The average new supply of 4,000 tsubo per year for 2018–2021 is one-fortyfifth of average new supply in Tokyo 23 Wards (180,000 tsubo per year).
    • The ratio of new supply in Osaka City (2018–2021) to office stock at end of 2017 (new supply rate) is expected to be approx. 0.6% (average of 0.1% per year).
  2. OSAKA CITY | Office Stock Pyramid 2018
    • Office stock at end of 2018 is expected to be 2.78 million tsubo on a rentable area basis, with small & medium-sized buildings and large buildings accounting for roughly the same amount: 1.41 million tsubo and 1.37 million tsubo, respectively.
    • Office stock of Osaka City (2.78 million tsubo) is less than a quarter of Tokyo 23 Wards’ (12.61 million tsubo).
    • On a number of buildings basis, office stock is 1,704 buildings, of which small & medium-sized buildings account for a little less than 90% (1,516 buildings).
    • The average age of buildings is 31.1 years for the entire stock, 31.5 years for small & medium-sized buildings, and 27.8 years for large buildings. The stock of small & medium-sized buildings is slightly older than large buildings.
    • Compared to 2000, rentable area increased by approx. 0.37 million tsubo (approx. 15%), and number of buildings rose by 79 (approx. 5%).
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