What is the average Class A rent in Nagoya?

Around 26000 JPY/sqft/yr ($208 USD) across the broader Class A index. Trophy submarkets like Meieki (Nagoya Station) command 20–40% above that.

How many months of rent-free are normal in Nagoya?

4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Nagoya?

The Nagoya Class A market is currently flat. Vacancy is 5.4%, which sets the negotiating context.

Headline Class A rent in Nagoya is around 26000 JPY/sqft/yr ($208 USD), with 4 months of typical rent-free on a 5-year term.

Headline Class A rent: 26000 JPY/sqft/yr ($208 USD).
Trophy submarket rents (Meieki (Nagoya Station)) push to roughly ¥26,000/tsubo/mo · ≈ $58.7 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 5.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Nagoya Class A office rents and incentives

Headline Class A rent in Nagoya is around 26000 JPY/sqft/yr ($208 USD), with 4 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 26000 JPY/sqft/yr ($208 USD).
Trophy submarket rents (Meieki (Nagoya Station)) push to roughly ¥26,000/tsubo">tsubo/mo · ≈ $58.7 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 5.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Nagoya are quoted in JPY per sqft per year. Across the broad Class A index the figure is 26000, but the trophy tier in Meieki (Nagoya Station) reaches roughly ¥26,000/tsubo/mo · ≈ $58.7 PSF/yr USD. Always discount headline rent by the present value of free rent and tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Nagoya concessions on a 5-year Class A lease run to 4 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Japanese corporate tax of 23.2% federal plus local surcharges — combined effective rate near 30.62%. 10% consumption tax.

Where rents land by submarket

Meieki (Nagoya Station) sits at the top end (~¥26,000/tsubo/mo · ≈ $58.7 PSF/yr USD). Fushimi / Marunouchi clears around ¥20,000/tsubo/mo · ≈ $45.2 PSF/yr USD as the prime tier. Toyota City represents the value end at ~¥14,000/tsubo/mo · ≈ $31.6 PSF/yr USD. The full submarket map is on the Nagoya city page.

Key facts

city	Nagoya
country	Japan
region	APAC
classARentLocal	26000 JPY/sqft/yr
classARentUsd	$208/sqft/yr
vacancy	5.4%
typicalLeaseYears	5
typicalRentFreeMonths	4
submarkets	5
primeYieldPct	4%
trophyRent	¥26,000/tsubo/mo · ≈ $58.7 PSF/yr USD
primeRent	¥20,000/tsubo/mo · ≈ $45.2 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Nagoya?: Around 26000 JPY/sqft/yr ($208 USD) across the broader Class A index. Trophy submarkets like Meieki (Nagoya Station) command 20–40% above that.
How many months of rent-free are normal in Nagoya?: 4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Nagoya?: The Nagoya Class A market is currently flat. Vacancy is 5.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction