How much does it cost to buy a house in Osaka? October 2020 Update

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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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)
Source: HOMES
Ward Average Listing Price in JPY
Abeno 31,740,000
Asahi 28,880,000
Chuo 57,790,000
Fukushima 27,420,000
Higashi Sumiyoshi 29,570,000
Higashinari 22,600,000
Higashiyodogawa 25,330,000
Hirano 20,720,000
Ikuno 18,666,000
Joto 25,450,000
Kita 43,890,000
Konohana 18,860,000
Minato 24,700,000
Miyakojima 26,990,000
Naniwa 36,940,000
Nishi 47,310,000
Nishinari 19,370,000
Nishiyodogawa 25,440,000
Suminoe 21,460,000
Sumiyoshi 24,120,000
Taisho 19,140,000
Tennoji Insufficient Data
Tsurumi 30,400,000
Yodogawa 29,020,000
Average 28,513,304

FAQs About Buying Property in Japan

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“.

How do I get a property loan as a foreigner in Japan?

Please see this article for information on: Getting a property loan as a foreigner in Japan

What is the process for buying a property 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

How much is my property worth?

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?

7 situations when you should consider selling your investment property in Japan

What are the main factors affecting home sale prices in Japan in 2019?

Seminars on Buying Property in Japan

Please see our seminar page for a current list of seminars on: how to buy a home in Japaninvesting in Japanese real estate for beginnershow to apply for permanent residency in Japanhow to sell property in Japan, and much more.


Sources:

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