What is the average Class A rent in Osaka?

Around 25000 JPY/sqft/yr ($168 USD) across the broader Class A index. Trophy submarkets like Umeda (Kita) command 20–40% above that.

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

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

Are rents rising or falling in Osaka?

The Osaka Class A market is currently flat. Vacancy is 4.8%, which sets the negotiating context.

Headline Class A rent in Osaka is around 25000 JPY/sqft/yr ($168 USD), with 2 months of typical rent-free on a 4-year term.

Headline Class A rent: 25000 JPY/sqft/yr ($168 USD).
Trophy submarket rents (Umeda (Kita)) push to roughly ¥27,000/tsubo/mo · ≈ $61 PSF/yr USD.
Typical concessions on a 4-year deal: 2 months free rent.
Vacancy stands at 4.8% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Osaka Class A office rents and incentives

Headline Class A rent in Osaka is around 25000 JPY/sqft/yr ($168 USD), with 2 months of typical rent-free on a 4-year term.

TL;DR

Headline Class A rent: 25000 JPY/sqft/yr ($168 USD).
Trophy submarket rents (Umeda (Kita)) push to roughly ¥27,000/tsubo">tsubo/mo · ≈ $61 PSF/yr USD.
Typical concessions on a 4-year deal: 2 months free rent.
Vacancy stands at 4.8% — 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 Osaka are quoted in JPY per sqft per year. Across the broad Class A index the figure is 25000, but the trophy tier in Umeda (Kita) reaches roughly ¥27,000/tsubo/mo · ≈ $61 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 Osaka concessions on a 4-year Class A lease run to 2 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 — 23.2% national corporate tax plus prefectural and municipal taxes for an effective combined rate near 30.6%. SME and R&D tax credits available.

Where rents land by submarket

Umeda (Kita) sits at the top end (~¥27,000/tsubo/mo · ≈ $61 PSF/yr USD). Honmachi & Yodoyabashi clears around ¥24,000/tsubo/mo · ≈ $54.2 PSF/yr USD as the prime tier. The full submarket map is on the Osaka city page.

Key facts

city	Osaka
country	Japan
region	APAC
classARentLocal	25000 JPY/sqft/yr
classARentUsd	$168/sqft/yr
vacancy	4.8%
typicalLeaseYears	4
typicalRentFreeMonths	2
submarkets	5
primeYieldPct	3.6%
trophyRent	¥27,000/tsubo/mo · ≈ $61 PSF/yr USD
primeRent	¥24,000/tsubo/mo · ≈ $54.2 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Osaka?: Around 25000 JPY/sqft/yr ($168 USD) across the broader Class A index. Trophy submarkets like Umeda (Kita) command 20–40% above that.
How many months of rent-free are normal in Osaka?: 2 months on a 4-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Osaka?: The Osaka Class A market is currently flat. Vacancy is 4.8%, which sets the negotiating context.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. 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

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