The average sales price of a newly constructed apartment in the city of Osaka was ¥56,480,000 ($441,000 USD) in March 2022. This was a significant year-on-year increase of 33.5% and also up 32.7% versus February.

However, the average sales price per square meter was also up 13.2% year-on-year and slightly down versus February by 0.9%.

For the Kansai region as a whole, the March average sales price hit ¥50,670,000 ($396,000 USD), up 19.9% year-on-year, led by strong price growth in the cities of Osaka and Kobe and the prefecture of Shiga.

The average sales price per square meter for Kansai, however, was slightly up 0.8% year-on-year in March to ¥763,000. March was also the fifth consecutive month in which the average price per square meter has risen year-on-year in the region, confirming that a steady price appreciation trend for 2022.

Data for the Kansai region covers Osaka prefecture, the city of Osaka, Hyogo prefecture, the city of Kobe, Kyoto prefecture, the city of Kyoto, and Nara, Shiga, and Wakayama prefectures.

The March data continues to support the trend we’ve been seeing this year: that buyer demand is continuing to stay strong despite rising prices. The contract rate for the Kansai region as a whole was 72.9%, the fourth consecutive month in which the contract rate was about 70%. The contract rate is the number of units contracted for sale divided by the number of units offered for sale. Seventy percent is considered the dividing line between a seller’s and buyer’s market.

The contract rate, excluding compact city-center units, was also strong at 71.2%. This is significant because people buying condominiums for investment purposes tend to focus on compact studio apartments, which tends to push up the contract rate; but the March data suggests that purchases for buyers’ own use was also strong.

New inventory remains very tight in western Japan this year. Kansai suppliers released 1,278 newly built units for sale in March, a drop of 30.2% year-on-year and the second consecutive month of year-0n-year new supply declines.

The March forecast had been for an additional 1,500 units to come to market, which would have been a year-on-year decrease of 19.0%, but actual new supply came in about 15% under the projection.

Average Sales Price of an Apartment in Kansai – By City & Prefecture

Here is the breakdown of average sales prices by area for March 2022 compared to February 2022 and year-on-year.

Average Sales Price of an Apartment in Kansai – By City & Prefecture

This is the breakdown of average sales prices per square meter by city and prefecture for March 2022 compared to February 2022 and year-on-year.

For more information about Osaka

Osaka living guide

Osaka average rent

Sakai Area Guide

Kyobashi Area Guide

Kansai New Condominium Market Report for January to June 2021

What can you buy in Osaka for $150,000 or less?

Osaka short-term apartments: Where to stay near Umeda

Osaka properties for sale

Osaka apartments for rent