Japan Research| August 2024
Osaka Logistics Market Summary
Q2 2024
Vacancy rate decreases due to absorption at existing properties
The vacancy rate reflected 2.4% in 2Q24, stable q-o-q and decreasing 70 bps y-o-y. The rate in the Bay area was 1.3%, increasing 20 bps q-o-q and 3.6% in the Inland area, decreasing 240 bps q-o-q. .
Q-o-Q
Y-o-Y
-100 bps
-70 bps
Rents per tsubo per month
Q-o-Q
Y-o-Y
Greater Osaka
0.0%
+1.3%
Vacancy rate Greater Osaka
2.4 %
JPY 4,126
Physical indicators 1,200
10
1,000
8
800
6
600
4
400
Percent
No new supply entered the market in 2Q24, and the stock remained at 6,617,000 sqm.
Key Performance Indicators
Thousand sqm
Demand and Supply Strong demand for logistics facilities continued in Greater Osaka in 2Q24. With demand for both new and existing facilities, net absorption totalled 66,000 sqm in the quarter.
2
200 0
0 2019
2020 2021 Take-up (net) Future Supply
2022
2023 2024F Completions Vacancy Rate
For 2019 to 2023, take-up, completions and vacancy rate are year-end annual. Future supply reflects figures for 2024. Source: JLL,
1 | Osaka Logistics Market Summary
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