New Condominium
The Real Estate Economic Institute (不動産経済研究所) released their report on new condominiums for the month of January. The data includes sales, inventory, new supply in Kansai region, which includes Wakayama, Osaka, Nara, Hyogo, Kyoto, and Shiga Prefectures.
The report was initially released on February 18, 2021.
We hope this report can supplement the monthly sales reports for the secondary market we publish every month.
The data will include sub categories such as;
- Average Sales Price
- Average Unit Price
- Inventory/New Supply
- Breakdown by Floor Plan
- Breakdown by Price Point
１．New Condominiums
Kansai Region
Average Price
January 2021: ¥46,290,000 average price
January 2020: ¥42,530,000 average price
Year-over-year change of 7.8%
Month-to-month change of 18.3% (December 2020 to January 2021)
Average Floor Area: 68.83m2
Unit Price
January 2021: ¥673,000 per square meter
January 2020: ¥361,700 per square meter
Year-over-year change of 7.0% per square meter
Month-to-month change of 1.2% per square meter (December 2020 to January 2021)
Inventory
Total Inventory 2021: 3,458 units
Total Inventory 2020: 2,664 units
New Supply 2021: 695 units (425 sales)
New Supply 2020: 621 units (415 sales)
Breakdown by Floor Plan
| New Supply | Units Contracted | Contract Percentage | |
| 1DK | 1 | 1 | 100% |
| 1LDK | 51 | 11 | 21.6% |
| 2LDK | 162 | 49 | 30.2% |
| 3LDK | 384 | 289 | 75.3% |
| 4LDK | 97 | 75 | 77.3% |
| Total | 695 | 425 | 61.2% |
Breakdown by Price Point
| New Supply | Units Contracted | Contract Percentage | |
| ~¥25,000,000 | |||
| ~¥30,000,000 | 23 | 15 | 65.2% |
| ~¥33,000,000 | 43 | 33 | 76.7% |
| ~¥35,000,000 | 40 | 31 | 77.5% |
| ~¥37,000,000 | 53 | 36 | 67.9% |
| ~¥40,000,000 | 116 | 88 | 75.9% |
| ~¥43,000,000 | 78 | 44 | 56.4% |
| ~¥45,000,000 | 54 | 33 | 61.1% |
| ~¥47,000,000 | 52 | 23 | 44.2% |
| ~¥50,000,000 | 69 | 44 | 63.8% |
| ~¥55,000,000 | 40 | 23 | 57.5% |
| ~¥60,000,000 | 47 | 22 | 46.8% |
| ~¥65,000,000 | 28 | 8 | 28.6% |
| ~¥70,000,000 | 18 | 8 | 44.4% |
| ~¥80,000,000 | 14 | 8 | 57.1% |
| ~¥90,000,000 | 10 | 4 | 40.0% |
| ~¥99,999,999 | 2 | 2 | 100% |
| ¥100,000,000~ | 8 | 3 | 37.5% |
| ¥200,000,000~ | |||
| ¥300,000,000~ | |||
| Total | 695 | 425 | 61.2% |
2. New Condominiums Osaka City
Price
January 2021: ¥47,930,000 average price (¥700,000 per square meter)
New Supply: 204 units (138 sales)
Breakdown by Floor Plan
| New Supply | Units Contracted | Contract Percentage | |
| 1DK | 1 | 1 | 100% |
| 1LDK | 12 | 9 | 75.0% |
| 2LDK | 42 | 30 | 71.4% |
| 3LDK | 120 | 79 | 65.8% |
| 4LDK | 29 | 19 | 65.5% |
| Total | 204 | 138 | 67.6% |
Breakdown by Price Point
| New Supply | Units Contracted | Contract Percentage | |
| ~¥25,000,000 | |||
| ~¥30,000,000 | 7 | 2 | 28.6% |
| ~¥33,000,000 | 12 | 9 | 75.0% |
| ~¥35,000,000 | 11 | 9 | 81.8% |
| ~¥37,000,000 | 10 | 7 | 70.0% |
| ~¥40,000,000 | 20 | 13 | 65.0% |
| ~¥43,000,000 | 29 | 16 | 55.2% |
| ~¥45,000,000 | 18 | 14 | 77.8% |
| ~¥47,000,000 | 16 | 7 | 43.7% |
| ~¥50,000,000 | 21 | 17 | 81.0% |
| ~¥55,000,000 | 16 | 10 | 62.5% |
| ~¥60,000,000 | 15 | 13 | 86.7% |
| ~¥65,000,000 | 9 | 3 | 33.3% |
| ~¥70,000,000 | 7 | 6 | 85.7% |
| ~¥80,000,000 | 7 | 6 | 85.7% |
| ~¥90,000,000 | 2 | 2 | 100% |
| ~¥99,999,999 | 2 | 2 | 100% |
| ¥100,000,000~ | 2 | 2 | 100% |
| ¥200,000,000~ | |||
| ¥300,000,000~ | |||
| Total | 204 | 138 | 67.6% |
3. New Condominiums Osaka Prefecture (Osaka City excluded)
Price
January 2021: ¥40,230,000 average price (¥560,000 per square meter)
New Supply: 248 units (215 sales)
Breakdown by Floor Plan
| New Supply | Units Contracted | Contract Percentage | |
| 1DK | |||
| 1LDK | 2 | 1 | 50.0% |
| 2LDK | 11 | 7 | 63.6% |
| 3LDK | 186 | 166 | 89.2% |
| 4LDK | 49 | 41 | 83.7% |
| Total | 248 | 215 | 86.7% |
Breakdown by Price Point
| New Supply | Units Contracted | Contract Percentage | |
| ~¥25,000,000 | |||
| ~¥30,000,000 | 15 | 13 | 86.7% |
| ~¥33,000,000 | 18 | 18 | 100.0% |
| ~¥35,000,000 | 19 | 18 | 94.7% |
| ~¥37,000,000 | 27 | 24 | 88.9% |
| ~¥40,000,000 | 73 | 67 | 91.8% |
| ~¥43,000,000 | 21 | 19 | 90.5% |
| ~¥45,000,000 | 12 | 10 | 83.3% |
| ~¥47,000,000 | 19 | 12 | 63.2% |
| ~¥50,000,000 | 27 | 18 | 66.7% |
| ~¥55,000,000 | 9 | 8 | 88.9% |
| ~¥60,000,000 | 5 | 5 | 100% |
| ~¥65,000,000 | 1 | 1 | 100% |
| ~¥70,000,000 | 1 | 1 | 100% |
| ~¥80,000,000 | 1 | 1 | |
| ~¥90,000,000 | |||
| ~¥99,999,999 | |||
| ¥100,000,000~ | |||
| ¥200,000,000~ | |||
| ¥300,000,000~ | |||
| Total | 248 | 215 | 86.7% |
Summary
- New supply increased by 11.9% year over year, an increase observed for the first time in two months.
- Average Price and Average Price per square meter increased.
- Contract rate of 61.2% falling below 70% for the first time in two months.
The inventory for sale in January 2021 was 3,458 units compared to 3,595 units in December 2020, and 2,664 units in January 2020.
The Real Estate Economic Institute characterized the condominium market as;
- The buyers attitude to purchasing declined during the second State of Emergency (January 11th~)
- There wasn’t a roll out or new supply for urban, compact, investment type condominiums. New supply was zero.
- The total inventory for new condominiums decreased for the first time in six months comparing month to month change.
The expectation for new supply in February 2021 is about 1,000 units. Comparing the month of February in years past;
- February 2017: 1,394 units
- February 2018: 1,818 units
- February 2019: 1,281 units
- February 2020: 1,035 units
For additional information please contact us here
Email: info@remax-apex.com
For the original Japanese Report clink here → Real Estate Economic Institute