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The common gross sales value of a newly constructed condo within the metropolis of Osaka was ¥56,480,000 ($441,000 USD) in March 2022. This was a big year-on-year improve of 33.5% and likewise up 32.7% versus February.

Nevertheless, the typical gross sales value per sq. meter was additionally up 13.2% year-on-year and barely down versus February by 0.9%.

For the Kansai area as a complete, the March common gross sales value hit ¥50,670,000 ($396,000 USD), up 19.9% year-on-year, led by robust value progress within the cities of Osaka and Kobe and the prefecture of Shiga.

The common gross sales value per sq. meter for Kansai, nonetheless, was barely up 0.8% year-on-year in March to ¥763,000. March was additionally the fifth consecutive month during which the typical value per sq. meter has risen year-on-year within the area, confirming {that a} regular value appreciation development for 2022.

Knowledge for the Kansai area covers Osaka prefecture, town of Osaka, Hyogo prefecture, town of Kobe, Kyoto prefecture, town of Kyoto, and Nara, Shiga, and Wakayama prefectures.

The March information continues to assist the development we’ve been seeing this 12 months: that purchaser demand is constant to remain robust regardless of rising costs. The contract price for the Kansai area as a complete was 72.9%, the fourth consecutive month during which the contract price was about 70%. The contract price is the variety of models contracted on the market divided by the variety of models provided on the market. Seventy p.c is taken into account the dividing line between a vendor’s and purchaser’s market.

The contract price, excluding compact city-center models, was additionally robust at 71.2%. That is important as a result of individuals shopping for condominiums for funding functions are inclined to deal with compact studio flats, which tends to push up the contract price; however the March information means that purchases for patrons’ personal use was additionally robust.

New stock stays very tight in western Japan this 12 months. Kansai suppliers launched 1,278 newly constructed models on the market in March, a drop of 30.2% year-on-year and the second consecutive month of year-0n-year new provide declines.

The March forecast had been for an extra 1,500 models to come back to market, which might have been a year-on-year lower of 19.0%, however precise new provide got here in about 15% below the projection.

Common Gross sales Worth of an Residence in Kansai – By Metropolis & Prefecture

Right here is the breakdown of common gross sales costs by space for March 2022 in comparison with February 2022 and year-on-year.

Supply: Actual Property Financial Analysis Institute (不動産経済研究所)

Common Gross sales Worth of an Residence in Kansai – By Metropolis & Prefecture

That is the breakdown of common gross sales costs per sq. meter by metropolis and prefecture for March 2022 in comparison with February 2022 and year-on-year.

Supply: Actual Property Financial Analysis Institute (不動産経済研究所)

For extra details 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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Sure. You should purchase property in Japan no matter your nationality or nation of origin. There are additionally no residency necessities for purchasing actual property in Japan. Securing financing as a resident foreigner is extra difficult. For information on financing, please see Basic Requirements for Getting a Mortgage as a Foreigner in Japan

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For details about buy and brokerage charges: Breakdown of real estate purchase fees and taxes in Japan

Have to Know

Leasehold rights in Japan: Benefits and drawbacks

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 Replace

Actual Property Japan is happy to supply free, no obligation value determinations for homeowners of property in Japan. Please click on right here and fill out the shape: 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?


Sources:

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

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

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

Lead photograph: Osaka, Japan – March 28, 2019 : Vertical backyard in entrance of Umeda Sky Constructing is a pair of skyscrapers related in midair inbuilt an uncommon architectural kind, one of many metropolis’s most recognizable landmarks by way of iStock 1384549750

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