Real Estate Leases
Part two of our Monthly Report for February will mainly focusing on the the rental market in Osaka City but will also venture out to Kyoto and Hyogo Prefectures when breaking down the data for apartment type units.
The data in this post will cover four main categories;
１．Studio Type Mansions
２．1 Bedroom or Larger Mansions
３．Studio Type Apartments
４．1 Bedroom or Larger Apartments
The four main categories will also include sub-categories which will cover the number of units leased and the number of new rental units on the market.
For a better understanding on the differences between an “apartment” and “mansion” click here click here → “Mansions”
１．Studio Type Mansions
Osaka Prefecture
Contracted Units
January 2020: ¥2,200 per square meter a total of 2,396 units leased
January 2019: ¥2,200 per square meter a total of 2,503 units leased
Year-over-year change of 0.0% per square meter
January 2020: average rent ¥50,300
January 2019: average rent ¥50,900
Year-over-year change of -1.2% (average rent)
January 2020: average floor area 22.86m²
January 2019: average floor area 23.15m²
Year-over-year change of -1.3% (average floor area)
New Units Listed
January 2020: ¥2,233 per square meter a total of 8,207 units listed
January 2019: ¥2,200 per square meter a total of 7,155 units listed
Year-over-year change of 1.5% per square meter
January 2020: average rent ¥50,400
January 2019: average rent ¥49,900
Year-over-year change of 1.5% (average rent)
January 2020: average floor area 22.63m²
January 2019: average floor area 22.77m²
Year-over-year change of -0.6% (average floor area)
Osaka City (6 main wards: Chuo, Kita, Nishi, Fukushima, Tennoji, Naniwa
Contracted Units
January 2020: ¥2,500 per square meter a total of 1,717 units leased
January 2019: ¥2,500 per square meter a total of 1,757 units leased
January 2020: average rent ¥58,800 average area of 23.52m²
January 2019: average rent ¥50,900 average area of 23.63m²
New Units Listed
January 2020: ¥2,600 per square meter a total of 2,688 units leased
January 2019: ¥2,500 per square meter a total of 2,447 units leased
January 2020: average rent ¥61,700 average area of 23.94m²
January 2019: average rent ¥61,200 average area of 24.11m²
２．1 Bedroom or Larger Mansions
Osaka Prefecture
Contracted Units
January 2020: ¥1,727 per square meter a total of 2,223 units leased
January 2019: ¥1,700 per square meter a total of 2,169 units leased
Year-over-year change of 1.6% per square meter
January 2020: average rent ¥82,900
January 2019: average rent ¥80,200
Year-over-year change of 3.4% (average rent)
January 2020: average floor area 47.97m²
January 2019: average floor area 47.12m²
Year-over-year change of 1.8% (average floor area)
New Units Listed
January 2020: ¥1,768 per square meter a total of 7,614 units listed
January 2019: ¥1,700 per square meter a total of 6,521 units listed
Year-over-year change of 4.0% per square meter
January 2020: average rent ¥85,000
January 2019: average rent ¥80,700
Year-over-year change of 5.3% (average rent)
January 2020: average floor area 48.79m²
January 2019: average floor area 48.19m²
Year-over-year change of 1.2% (average floor area)
Osaka City (6 main wards: Chuo, Kita, Nishi, Fukushima, Tennoji, Naniwa
Contracted Units
January 2020: ¥2,400 per square meter a total of 491 units leased
January 2019: ¥2,400 per square meter a total of 486 units leased
January 2020: average rent ¥113,100 average area of 47.12m²
January 2019: average rent ¥108,200 average area of 45.78m²
New Units Listed
January 2020: ¥2,600 per square meter a total of 1,718 units leased
January 2019: ¥2,400 per square meter a total of 1,434 units leased
January 2020: average rent ¥124,300 average area of 48.15m²
January 2019: average rent ¥114,000 average area of 46.66m²
３．Studio Type Apartments
Osaka Prefecture
Contracted Units
January 2020: ¥2,111 per square meter a total of 376 units leased
January 2019: ¥2,100 per square meter a total of 428 units leased
Year-over-year change of 0.5% per square meter
January 2020: average rent ¥54,900
January 2019: average rent ¥52,500
Year-over-year change of 4.6% (average rent)
January 2020: average floor area 26.61m²
January 2019: average floor area 25.56m²
Year-over-year change of 4.1% (average floor area)
New Units Listed
January 2020: ¥1,942 per square meter a total of 756 units listed
January 2019: ¥2,000 per square meter a total of 637 units listed
Year-over-year change of -2.1% per square meter
January 2020: average rent ¥46,100
January 2019: average rent ¥48,500
Year-over-year change of -4.9% (average rent)
January 2020: average floor area 23.79m²
January 2019: average floor area 24.49m²
Year-over-year change of -2.9% (average floor area)
Hyogo Prefecture
Contracted Units
January 2020: ¥2,000 per square meter a total of 146 units leased
January 2019: ¥2,109 per square meter a total of 182 units leased
Year-over-year change of 5.2% per square meter
January 2020: average rent ¥50,700
January 2019: average rent ¥53,000
Year-over-year change of -4.2% (average rent)
January 2020: average floor area 25.72m²
January 2019: average floor area 25.44m²
Year-over-year change of 1.1% (average floor area)
New Units Listed
January 2020: ¥1,941 per square meter a total of 531 units listed
January 2019: ¥2,000 per square meter a total of 477 units listed
Year-over-year change of -3.1% per square meter
January 2020: average rent ¥45,100
January 2019: average rent ¥47,100
Year-over-year change of -4.3% (average rent)
January 2020: average floor area 23.49m²
January 2019: average floor area 23.78m²
Year-over-year change of -1.2% (average floor area)
Kyoto Prefecture
Contracted Units
January 2020: ¥2,000 per square meter a total of 23 units leased
January 2019: ¥2,208 per square meter a total of 25 units leased
Year-over-year change of -10.4% per square meter
January 2020: average rent ¥39,600
January 2019: average rent ¥53,200
Year-over-year change of -25.5% (average rent)
January 2020: average floor area 20.12m²
January 2019: average floor area 24.20m²
Year-over-year change of 16.9% (average floor area)
New Units Listed
January 2020: ¥2,022 per square meter a total of 145 units leased
January 2019: ¥1,900 per square meter a total of 124 units leased
Year-over-year change of 6.4% per square meter
January 2020: average rent ¥46,100
January 2019: average rent ¥42,800
Year-over-year change of 7.5% (average rent)
January 2020: average floor area 23.24m²
January 2019: average floor area 23.00m²
Year-over-year change of 1.0% (average floor area)
４．1 Bedroom or Larger Apartments
Osaka Prefecture
Contracted Units
January 2020: ¥1,635 per square meter a total of 306 units leased
January 2019: ¥1,700 per square meter a total of 364 units leased
Year-over-year change of -2.2% per square meter
January 2020: average rent ¥66,800
January 2019: average rent ¥63,900
Year-over-year change of 4.4% (average rent)
January 2020: average floor area 41.24m²
January 2019: average floor area 38.63m²
Year-over-year change of 6.7% (average floor area)
New Units Listed
January 2020: ¥1,500 per square meter a total of 1001 units listed
January 2019: ¥1,551 per square meter a total of 967 units listed
Year-over-year change of -3.4% per square meter
January 2020: average rent ¥62,900
January 2019: average rent ¥67,200
Year-over-year change of -6.4% (average rent)
January 2020: average floor area 42.08m²
January 2019: average floor area 43.41m²
Year-over-year change of -3.1% (average floor area)
Hyogo Prefecture
Contracted Units
January 2020: ¥1,400 per square meter a total of 236 units leased
January 2019: ¥1,473 per square meter a total of 242 units leased
Year-over-year change of -5.2% per square meter
January 2020: average rent ¥62,800
January 2019: average rent ¥60,600
Year-over-year change of 3.6% (average rent)
January 2020: average floor area 46.29m²
January 2019: average floor area 42.36m²
Year-over-year change of 9.3% (average floor area)
New Units Listed
January 2020: ¥1,300 per square meter a total of 981 units listed
January 2019: ¥1,308 per square meter a total of 775 units listed
Year-over-year change of -.6% per square meter
January 2020: average rent ¥58,700
January 2019: average rent ¥57,600
Year-over-year change of 1.9% (average rent)
January 2020: average floor area 45.79m²
January 2019: average floor area 44.65m²
Year-over-year change of 2.6% (average floor area)
Kyoto Prefecture
Contracted Units
January 2020: ¥1,400 per square meter a total of 26 units leased
January 2019: ¥1,403 per square meter a total of 39 units leased
Year-over-year change of -.2% per square meter
January 2020: average rent ¥57,500
January 2019: average rent ¥61,000
Year-over-year change of -5.7% (average rent)
January 2020: average floor area 41.37m²
January 2019: average floor area 43.76m²
Year-over-year change of -5.4% (average floor area)
New Units Listed
January 2020: ¥1,420 per square meter a total of 121 units leased
January 2019: ¥1,500 per square meter a total of 131 units leased
Year-over-year change of -1.7% per square meter
January 2020: average rent ¥60,900
January 2019: average rent ¥64,500
Year-over-year change of -5.6% (average rent)
January 2020: average floor area 42.62m²
January 2019: average floor area 44.40m²
Year-over-year change of -4.0% (average floor area)
Recap
As for the rental market there shouldn’t be a drastic change year to year or month to month, but only taking a look at the % change can be deceiving. The price per square meter becomes important when making comparisons. There always should be a correlation between the average price per square meter with average floor area, and average rent per month. When the data might seem off, we can assume the contracted units, or the new units to the market are by average older than the year prior or month prior.
For additional information please contact us here
Email: info@remax-apex.com
For the original data in Japanese clink here → Kinki Reins