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

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

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.

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?

Akiya Banks in Japan – List of Links to Vacant House Databases

2021 homebuyer incentives in Japan

Homeowners in Japan can expect lower property taxes in 2021

Tokyo Apartment Market Forecast: Trends to watch for in 2021

Kansai Apartment Market Forecast: Supply and price trends to watch for in 2021


Lead photo: Osaka skyline, iStock 539475162