Kansai New Condominium Market Trends Report for Jan to June 2021

Here are the key takeaways from the Real Estate Economic Research Institute‘s (REEI, 不動産経済研究所) January to June 2021 trends report for the Kansai area new condominium market. The Kansai area includes the prefectures of Osaka, Hyogo, Kyogo, Nara, Shiga, and Wakayama. Please see this link for the Tokyo market trends report.

  • Supply for the Kansai region as a whole increased 58.0% to 8,373 units in the first half of 2021.
    • This compares to 5,299 for the first half of 2020, 7,514 for the first half of 2019, and 9,087 for the first half of 2018.
    • Supply for the second half of 2021 is forecast at about 9,500 units.
    • If forecast supply comes in as expected, total supply for the year will reach about 17,873 units, which would almost equal the supply numbers reached in 2019 (18,042 units) before the pandemic caused developers to severely pull back on releasing new units in 2020 (15,195 units).
  • The average sales price was ¥43,600,000 ($397,400 USD), a year-on-year increase of 8.3%.
  • The average price per square meter was ¥733,000 ($6,681 USD).
  • The average price per sqm reached in the January to June 2021 period was the highest achieved in the first half-year period since 1973, when records started being kept.

Breakdown by City and Prefecture

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Lead photo: Osaka skyline, iStock 539475162

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