Real Estate Sales
The June Report was publish on September 8, 2023 for the real estate sales for the month of August 2023. The data includes the average price per square meter for listings in the Kansai region in one data set. The Kansai region includes Wakayama, Osaka, Nara, Hyogo, Kyoto, and Shiga Prefectures.
Data for Real Estate Sales will not included new construction.
The Data will be Broken Down into Three Categories:
- Condominium Sales
- House Sales
- Land Sales
Sub categories will include units sold and the number of new listings to hit the market.
１．Condominium Sales
Kansai Region
Units Sold
August 2023: ¥429,600 per square meter a total of 1,001 units sold
August 2022: ¥381,500 per square meter a total of 1,096 units sold
Year-over-year change of 12.6% per square meter
Month-to-month change of 1.4% per square meter (July to August)
August 2023: ¥29,420,000 average price
August 2022: ¥25,750,000 average price
Year-over-year change of 14.2%
Month-to-month change of 2.5% (July to August)
Average Floor Area: 68.47m2
Average Age: 25.08 years
New Properties Listed
August 2023: ¥449,400 per square meter a total of 4,675 units listed
August 2022: ¥444,900 per square meter a total of 4,144 units listed
Year-over-year change of 1.0% per square meter
Month-to-month change of 4.2% per square meter (July to August)
Total Inventory
August 2023: 19,566 total units at ¥439,000 per square meter
August 2022: 16,126 total units at ¥432,600 per square meter
Year-over-year change of 1.5% per square meter
Month-to-month change of 0.4% per square meter (July to August)
Total Inventory year over year change: 21.3%
Osaka City
Units Sold
August 2023: ¥631,900 per square meter a total of 275 units sold
August 2022: ¥514,600 per square meter a total of 298 units sold
Year-over-year change of 22.8% per square meter
Month-to-month change of 3.6% per square meter (July to August)
August 2023: ¥39,900,000 average price
August 2022: ¥31,870,000 average price
Year-over-year change of 25.2%
Month-to-month change of 9.2% (July to August)
Average Floor Area: 63.15m2
Average Age: 22.01 years
New Properties Listed
August 2023: ¥614,600 per square meter a total of 1,581 units listed
August 2022: ¥616,600 per square meter a total of 1,505 units listed
Year-over-year change of -0.3% per square meter
Month-to-month change of 6.5% per square meter (July to August)
August 2023: ¥33,050,000 average price
August 2022: ¥32,050,000 average price
Year-over-year change of 3.1%
Month-to-month change of 6.9% (July to August)
Average Floor Area: 53.77m2
Average Age: 25.09 years
Northern Osaka (Hokusetsu Area)
Units Sold
August 2023: ¥420,400 per square meter a total of 106 units sold
August 2022: ¥398,700 per square meter a total of 120 units sold
Year-over-year change of 5.4% per square meter
Month-to-month change of 1.9% per square meter (July to August)
August 2023: ¥30,290,000 average price
August 2022: ¥30,100,000 average price
Year-over-year change of 0.6%
Month-to-month change of -3.6% (July to August)
Average Floor Area: 72.05m2
Average Age: 26.03 year
New Properties Listed
August 2023: ¥402,300 per square meter a total of 410 units listed
August 2022: ¥402,600 per square meter a total of 345 units listed
Year-over-year change of -0.1% per square meter
Month-to-month change of -0.6% per square meter (July to August)
August 2023: ¥30,000,000 average price
August 2022: ¥30,030,000 average price
Year-over-year change of -0.1%
Month-to-month change of 2.5% (July to August)
Average Floor Area: 74.58m2
Average Age: 31.07 years
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
August 2023: average price of ¥22,380,000 for a total of 717 homes sold
August 2022: average price of ¥21,660,000 for a total of 663 homes sold
Year-over-year change of 3.3% (average price)
Month-to-month change of -0.5% (average price from July to August)
Average Land Area: 130.27m2
Average Building Area: 105.56m2
Average Age: 28.05 years
New Homes Listed
August 2023: average price of ¥27,380,000 for a total of 3,153 homes listed
August 2022: average price of ¥26,120,000 for a total of 2,612 homes listed
Year-over-year change of 2.9% (average price)
Month-to-month change of 2.5% (average price from July to August)
Average Land Area: 137.54m2
Average Building Area: 110.59m2
Average Age: 28.04 years
Total Inventory
August 2023: average price of ¥26,460,000 for a total of 14,390 homes
August 2022: average price of ¥26,380,000 for a total of 11,274 homes
Year-over-year change of 0.3% (average price)
Month-to-month change of 1.0% (average price from July to August)
Average Land Area: 141.07m2
Average Building Area: 110.74m2
Average Age: 29.05 years
Northern Osaka (Hokusetsu Area)
Homes Sold
August 2023: average price of ¥34,120,000 for a total of 60 homes sold
August 2022: average price of ¥31,850,000 for a total of 47 homes sold
Year-over-year change of 7.1% (average price)
Month-to-month change of -7.6% (average price from July to August)
Average Land Area: 124.44m2
Average Building Area: 108.62m2
Average Age: 24.07 years
New Properties Listed
August 2023: average price of ¥38,220,000 for a total of 209 homes listed
August 2022: average price of ¥37,870,000 for a total of 166 homes listed
Year-over-year change of 0.9% (average price)
Month-to-month change of -7.6% (average price from July to August)
Average Land Area: 130.84m2
Average Building Area: 114.64m2
Average Age: 26.05 years
３．Land Sales
Kansai Region
Lots Sold
August 2023: average price per square meter of ¥149,600 for a total of 455 lots sold
August 2022: average price per square meter of ¥135,500 for a total of 447 lots sold
Year-over-year change of 10.4% price per square meter
Month-to-month change of 3.9% price per square meter (July to August)
August 2023: ¥23,170,000 average price
August 2022: ¥21,820,000 average price
Year-over-year change of 6.2%
Month-to-month change of 4.2% (July to August)
Average Land Area: 154.83m2
New Properties Listed
August 2023: average price per square meter of ¥152,400 for a total of 2,464 lots listed
August 2022: average price per square meter of ¥138,500 for a total of 2,138 lots listed
Year-over-year change of 10.1% price per square meter
Month-to-month change of 1.2% price per square meter (July to August)
August 2023: ¥24,260,000 average price
August 2022: ¥22,390,000 average price
Year-over-year change of 8.4%
Month-to-month change of 2.3% (July to August)
Average Land Area: 159.20m2
Total Inventory
August 2023: 14,297 total lots at ¥120,300 per square meter
August 2022: 11,812 total lots at ¥113,300 per square meter
Year-over-year change of 6.1% per square meter
Month-to-month change of -0.4% per square meter (July to August)
August 2023: ¥20,120,000 average price
August 2022: ¥19,010,000 average price
Year-over-year change of 5.9%
Month-to-month change of -0.1% (July to August)
Average Land Area: 167.31m2
Northern Osaka (Hokusetsu Area)
Lots Sold
August 2023: average price per square meter of ¥220,100 for a total of 40 lots sold
August 2022: average price per square meter of ¥234,100 for a total of 37 lots sold
Year-over-year change of -6.0% price per square meter
Month-to-month change of 1.5% price per square meter (July to August)
August 2023: ¥33,520,000 average price
August 2022: ¥38,710,000 average price
Year-over-year change of -13.4%
Month-to-month change of 11.3% (July to August)
Average Land Area: 152.29m2
New Properties Listed
August 2023: average price per square meter of ¥253,900 for a total of 171 lots listed
August 2022: average price per square meter of ¥242,500 for a total of 153 lots listed
Year-over-year change of 4.7% price per square meter
Month-to-month change of -1.8% price per square meter (July to August)
August 2023: ¥37,670,000 average price
August 2022: ¥34,750,000 average price
Year-over-year change of 8.4%
Month-to-month change of 2.2% (July to August)
Average Land Area: 148.38m2
Market Analysis
Condominiums
Year-over-year trading down again; selling pressure remains strong.
Number of Sales
The number of pre-owned condominium contracts in the Kinki region decreased by 8.7% year-on-year to 1,001. The number of contracts has been increasing and decreasing since 2010, but in August it turned downward again, falling 6.8% from August 2019, below the level before the pandemic.
New Listings
The number of new listings in the Kansai region increased 12.8% year-on-year to 4,675, recording double-digit growth for the eighth consecutive month. The rate of increase in new listings continues to significantly outpace the number of contracts, and selling pressure in the market remains strong.
Contracted unit (m²) price
The unit price per m² of pre-owned condominiums contracted in the Kinki region was 429,660 yen/m², a double-digit increase of 12.6% y-o-y, following an increase in July. The month-on-month increase was also up 1.4%.
Newly listed unit (m² ) price
The newly registered m² unit price in the Kinki region rose 1.0% year-on-year to ¥449,400/m², and also increased 4.2% month-on-month.
Compared to the previous year, the number of contracts decreased in 9 areas, while the unit price per m² increased in 9 areas.
The number of contracts decreased year-on-year in 9 of the 12 regions, and the number of areas where the number of contracts decreased increased by 5 compared to the previous month. Of the 12 regions, those in northern and southern Osaka, Kobe City, and the Hanshin area showed double-digit year-on-year declines, while those in northern Osaka showed the 10th consecutive decline.
Unit price per m² rose year-on-year in 9 of the 12 regions, with the number of areas where prices rose increasing by 3 compared to the previous month. Of the 12 regions, Osaka City, eastern Osaka Prefecture, Kyoto City, and Wakayama Prefecture saw double-digit year-on-year increases, while Shiga Prefecture saw its seventh consecutive month of year-on-year increase. While transactions decreased, unit price per m² increased in many areas.
Detached Homes
Year-over-year transactions increased for the fourth consecutive month, while selling pressure remained strong.
Number of Sales
The number of contracts for existing detached houses in the Kinki region was 717, up 8.1% year-on-year, marking the fourth consecutive month of year-on-year increase. Unlike existing condominiums, detached house transactions are on the rise, with the number of contracts up 19.1% year-on-year to 717. The recovery is remarkable, with an increase of 12.6% compared to August 2019, well above the level before the pandemic.
New Listings
In the Kansai region, the number of new listings was 3,153, up 20.7% year-on-year, marking the eighth consecutive month of year-on-year increase. While the number of contracts signed remained steady, the rate of increase in new listings far exceeded that of contracts signed, and selling pressure remains strong in the existing detached house market.
Sales prices
The contract price of existing detached houses in the Kinki region rose 3.3% y-o-y to 22.38 million yen, continuing a year-on-year increase from July. The month-on-month change was -0.5%. The price of existing detached houses also continued to rise, although not to the same extent as the price per m² of existing condominiums.
Newly Listed Prices
Newly registered prices in the Kinki region rose 2.9% year-on-year to 27.38 million yen, marking the eighth consecutive month of year-on-year increase. Prices were also up 2.5% from the previous month.
Year-on-year, the number of contracts increased in 9 regions, and contract prices rose in 6 regions.
The number of contracts increased year-on-year in 9 of the 12 regions, and the number of areas with year-on-year increases was the same as the previous month. Of the 12 regions, Osaka City, northern Osaka Prefecture, Kobe City, and Kyoto City saw double-digit increases, with Osaka City seeing its 13th consecutive month of growth, and other areas where transactions were strong.
Contract prices rose year-on-year in 6 of the 12 regions, with the number of areas where prices rose increasing by 1 from the previous month. Among the rising areas, Osaka City, Kobe City, and Hyogo and other prefectures saw double-digit price increases, with prices in eastern Osaka rising for the ninth consecutive month and Osaka City for the fifth consecutive month, indicating that buyers are seeking relatively high-priced properties, especially in Osaka Prefecture.
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For the original data in Japanese click here → Kinki