How much does an apartment cost in Osaka – April 2022 Update

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.

Source: Real Estate Economic Research Institute (不動産経済研究所)

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.

Source: Real Estate Economic Research Institute (不動産経済研究所)

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

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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

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

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For information about purchase and brokerage fees: Breakdown of real estate purchase fees and taxes in Japan

Need to Know

Leasehold rights in Japan: Advantages and disadvantages

Earthquake building codes and technology in Japan

Can I legally rent out my home in Japan on AirBnB?

Repair reserve fund fees explained

Parking spaces in Japanese condominium buildings explained

Building your own home in Japan

7 reasons why foreigners are interested in buy a home in Japan, especially now – March 2022 Update

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

Tokyo Apartment Market Forecast: Trends to watch for in 2022

Kansai Apartment Market Forecast: Supply and price trends to watch for in 2022


Sources:

REEI,  March 2022 Kansai New Condominium Market Trends Report (PDF in Japanese)

REEI, February 2022 Kansai New Condominium Market Trends Report (PDF in Japanese)

REEI, March 2021 Kansai New Condominium Market Trends Report (PDF in Japanese)

Lead photo: Osaka, Japan – March 28, 2019 : Vertical garden in front of Umeda Sky Building is a pair of skyscrapers connected in midair built in an unusual architectural form, one of the city’s most recognizable landmarks via iStock 1384549750