Sales prices of newly constructed apartments in the Kansai region, which includes Osaka, Kyoto, and Kobe, averaged ¥39,540,000 ($361,000 USD) in February, a year-on-year increase of 17.3%. The supply of properties released by developers in Kansai also jumped last month by 66.0% year-on-year to 1,718 units. These were the key highlights from the Real State Economic Institute (REEI)’s February new condominium market trends survey for the Kansai region.
February is the second consecutive month in which both the unit sales price and sales price per square meter has increased year-on-year.
Also of note is February’s very strong contract rate (indicating strong buyer interest) of 78.5% for the region as a whole, compared to 75.3% in February 2020 and 61.2% in January. The contract rate is the number of units contracted for sale divided by the number of units offered for sale.
The REEI’s report covers the city and prefecture of Osaka, and the prefectures of Hyogo (where Kobe is located), Kyoto, Nara, Shiga, and Wakayama.
Average Sales Price of an Apartment in Kansai – By City & Prefecture
Here is the breakdown of average sales prices by area for February 2021 compared to January 2021 and year-on-year.
|Feb 2021 – Average Sales Price in JPY||Jan 2021 – Average Sales Price in JPY||Feb 2021 v. Jan 2021 — MoM % Change||Feb 2020 – Average Sales Price in JPY||
Feb 2021 v. Feb 2020 — YoY % Change
Average sales prices by square meter
Feb 2021 – Average Sales Price Per SQM in JPY
|Jan 2021 – Average Sales Price Per SQM in JPY||Feb 2021 v. Jan 2021 — % Change||Feb 2020 – Average Sales Price Per SQM in JPY||
Feb 2021 v. Feb 2020 — % Change
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REEI, February 2021 Kansai New Condominium Market Trends Report (PDF in Japanese)
REEI, February 2020 Kansai New Condominium Market Trends Report (PDF in Japanese)
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