Xymax Real Estate Institute (hereinafter, "Xymax REI") hereby releases a report on the Supply of New Office Space 2019 covering Osaka City. The volume of new office supply, which is an aggregation of rentable areas of offices that will be newly constructed in the coming years (hereinafter, "new supply"), indicates the future direct impact of supply on the market balance. Xymax REI aggregates the rentable areas of office space in buildings that are mainly for office-use with a gross floor area of more than 3,000 tsubo completed in the Tokyo 23 Wards and Osaka City each year. The Tokyo 23 Wards version*1 has been released on the same day.
No supply is scheduled in 2019 or 2021 (Figure 1).
The average annual new supply in 2019–2022 is 9,000 tsubo. This is less than a third of 29,000 tsubo, the average annual volume of the past 10 years.
The average annual new supply in 2019–2022 in Osaka City (9,000 tsubo) is one-fifteenth of that in the Tokyo 23 Wards (138,000 tsubo).
The new supply rate (new supply in 2019–2022 versus office stock at year-end 2018) is expected to be approx. 1.3% (annual average: 0.3%) in Osaka City.