Below we give a mid-year update on the market for newly constructed and previously owned homes in Osaka, based on September and second quarter listing prices and actual sales prices.
What is the average listing price for a new house in Osaka?
In September 2020, the average listing price for a newly constructed detached wooden house in Osaka of between 100-sqm and 300-sqm (1,076 sqft and 3,229 sqft) was:
- Osaka (prefecture): ¥34,940,000 ($334,000)
- – 0.2% YoY, -0.85% v. August
- Osaka (city): ¥41,130,000 ($395,000)
- -2.6% YoY, -11.2% v. August
What is the average sales price of a previously owned house in Osaka?
Sales prices for previously owned houses in Tokyo are reported by REINS Kinki Nihon, which is the regional multiple listing service for the Kinki region.
For July to September 2020, the average sales price for a previously owned detached house in Osaka was:
- Osaka (prefecture): ¥18,570,000 (+2.8% YoY)
- Osaka (city): ¥21,550,000 (+11.4% YoY)
- Average of cities in northern Osaka prefecture: ¥26,110,000 (+1.4% YoY)
- Ikeda, Mino, Toyonaka, Suita, Settsu, Ibaraki, Takatsuki, Mishima-gun, Toyono-gun
- Average of cities in eastern Osaka prefecture: ¥14,670,000 (+2.2% YoY)
- Kadoma, Moriguchi, Hirakata, Neyagawa, Katano, Daito, Shijonawate, Higashi Osaka, Yao, Kashiwara
- Average of cities in southern Osaka prefecture: ¥15,760,000 (-1.1% YoY)
- Takaishi, Kawachi Nagano, Matsubara, Habikino, Fujidera, Tondabayashi, Osakasayama, Minamikawachi-gun, Kishiwada, Izumiotsu, Kaizuka, Izumiotsu, Izumisano, Izumi, Sennan, Senboku-gun, Sennan-gun
Purchase fees and taxes
You should also factor in purchase fees and taxes to the total cost:
At the time of signing the Purchase and Sale Agreement: Down payment (in most cases 10% to 20% of purchase price), miscellaneous expenses (roughly 1.7% of purchase price)
At or by the time of closing (handover of keys): Remainder of purchase price (purchase price minus down payment), miscellaneous expenses (roughly 6-10% of purchase price)
- Agent Fees: Generally 3.24% of purchase price + 64,800JJPY (this is the upper legal limit). One half of the agent fee is usually paid at the time of signing the purchase and sale agreement, with the balance due at closing.
1-2 years after purchase: Payment of Real Estate Acquisition Tax (varies depending on the property)
For an in-depth discussion, please see this article: Purchase fees and taxes when buying a house in Japan
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How much does it cost to buy a house in Tokyo? October 2020 Update
Average listing price by ward
Average price of a house in Osaka: Average listing price of a re-sale in Osaka by Ward
Click the links below to see current listings.
|Average Listing Price of Resale House in Osaka by Ward
Based on prices of listed properties in the last three months (June to August 2020)
|Ward||Average Listing Price in JPY|
Can a foreigner buy property in Japan?
Yes. You can buy property in Japan regardless of your nationality or country of origin. There are also no residency requirements for buying real estate in Japan. Securing financing as a resident foreigner is more complicated. For info on financing, please see “Basic Requirements for Getting a Mortgage as a Foreigner in Japan“.
Please see this article for information on: Getting a property loan as a foreigner in Japan
Please see our step-by-step guide: Guide to Buying Property in Japan
See how much you can borrow and your monthly payments in yen: Yen Mortgage Loan Calculator
For information about purchase and brokerage fees: Breakdown of real estate purchase fees and taxes in Japan
Need to know: Earthquake building codes and technology in Japan
Bilingual Real Estate Agent in Tokyo Answers Your FAQs on Buying and Managing an Investment Property
Real Estate Japan is pleased to offer free, no obligation appraisals for owners of property in Japan. Please click here and fill out the form: How much is my property worth?
Please see our seminar page for a current list of seminars on: how to buy a home in Japan, investing in Japanese real estate for beginners, how to apply for permanent residency in Japan, how to sell property in Japan, and much more.
Tokyo Kantei, October 2020 Detached house market report (PDF in Japanese)
REINS Kinki Nihon, October 2020 Market Watch (PDF in Japanese)
Lead photo: Osaka Caste and Gokurakubashi Bridge, taken October 2016, via iStock