# Osaka office rents surge 14.1% in Q2

- **Source:** Real Estate Asia
- **Published:** 2026-08-18T23:21:44.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-office/news/osaka-office-rents-surge-141-in-q2
- **Topics:** Commercial & Industrial

## Featured rationale

Severe space scarcity strengthens landlords’ pricing power and may support capital values, but widening budget gaps could reduce tenant inquiries and encourage flexible-workspace alternatives.

## AI summary

Osaka Grade A office rents reached JPY 28,083 per tsubo monthly in Q2 2026, rising 14.1% year-on-year as vacancy fell to 1.8%.

## Original article

Meanwhile, the vacancy rate declined to 1.8% during the quarter.

Osaka's office market continued to tighten in the second quarter of 2026, with net absorption reaching 3,600 tsubo as demand from new office setups, expansions and relocations encountered increasingly limited Grade A availability, according to JLL.

The shortage of suitable space is prompting occupiers to consider alternatives, including remaining in existing offices, renovating current premises or using flexible workspace, JLL said.

The vacancy rate fell to 1.8% in Q2, down 0.4 percentage point quarter-on-quarter and 1.5 percentage points year-on-year. No new office supply was delivered during the quarter, while the absorption of vacant space at Yodoyabashi Gate Tower and Grand Front Osaka Tower B contributed to the decline.

JLL said there are virtually no vacant Grade A offices matching current relocation requirements. The pricing dynamic has also shifted, with premium rents increasingly being commanded by larger spaces of more than 500 tsubo, reversing the traditional pattern in which smaller offices attracted higher rents per tsubo.

Average monthly rents reached JPY 28,083 per tsubo in Q2, up 3.6% quarter-on-quarter and 14.1% year-on-year. JLL said landlords continue to hold the upper hand, with some owners choosing to wait for higher rents rather than rushing to lease available space.

However, the sharp rental increases are creating a growing gap between tenant budgets and landlord expectations. JLL noted that some buildings have actually seen inquiries decline after raising asking rents.

Capital values increased 5.6% quarter-on-quarter and 16% year-on-year, driven by the rise in rents.

The outlook remains tight, with JLL identifying only one major new supply project through 2030: Taisei Midosuji Tower in Chuo-ku, with a total floor area of approximately 14,000 tsubo and scheduled for completion in July 2026.

JLL expects Grade A office space to remain genuinely scarce as available floors become increasingly limited. Rental growth for 2026 is forecast at around 12% annually, pointing to continued upward pressure on rents in Osaka's office market.

## Chinese translation

> Translation model: grok_cli

### 大阪写字楼租金第二季度飙升14.1%

2026年第二季度大阪写字楼市场持续收紧，净吸纳量达3,600坪，来自新设办公室、扩张

与此同时，空置率在当季降至1.8%。

据仲量联行（JLL）称，2026年第二季度大阪写字楼市场持续收紧，净吸纳量达3,600坪，因新设办公室、扩张和搬迁需求面对日益有限的甲级可用性。

仲量联行表示，合适空间短缺正促使租户考虑替代方案，包括继续留在现有办公室、翻新现有场所或使用灵活办公空间。

空置率在第二季度降至1.8%，环比下降0.4个百分点，同比下降1.5个百分点。当季没有新的写字楼供应交付，而淀屋桥门塔（Yodoyabashi Gate Tower）和大阪格兰锋塔B座（Grand Front Osaka Tower B）空置空间的吸纳促成了这一下降。

仲量联行表示，几乎没有符合当前搬迁需求的空置甲级写字楼。定价动态也已转变，超过500坪的较大空间日益要求溢价租金，扭转了以往较小办公室每坪租金更高的传统格局。

第二季度平均月租达每坪28,083日元，环比上涨3.6%，同比上涨14.1%。仲量联行表示，业主仍占上风，部分业主选择等待更高租金，而非急于出租可用空间。

然而，租金大幅上涨正造成租户预算与业主预期之间不断扩大的差距。仲量联行指出，一些大楼在提高要价租金后，问询实际上有所减少。

资本价值环比上涨5.6%，同比上涨16%，由租金上涨推动。

前景仍然紧张，仲量联行指出至2030年仅有一个主要新供应项目：位于中央区的大成御堂筋塔（Taisei Midosuji Tower），总楼面面积约14,000坪，计划于2026年7月竣工。

仲量联行预计，随着可用楼层日益有限，甲级写字楼空间将真正稀缺。2026年租金增长预计约为每年12%，显示大阪写字楼市场租金将持续面临上行压力。