Real Estate Sales
The June Report was publish on August 9, 2023 for the real estate sales for the month of July 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
July 2023: ¥423,900 per square meter a total of 1,453 units sold
July 2022: ¥388,600 per square meter a total of 1,404 units sold
Year-over-year change of 9.1% per square meter
Month-to-month change of 8.3% per square meter (June to July)
July 2023: ¥28,690,000 average price
July 2022: ¥26,450,000 average price
Year-over-year change of 8.5%
Month-to-month change of 7.1% (June to July)
Average Floor Area: 67.68m2
Average Age: 26.06 years
New Properties Listed
July 2023: ¥431,300 per square meter a total of 5,493 units listed
July 2022: ¥434,000 per square meter a total of 4,695 units listed
Year-over-year change of -0.6% per square meter
Month-to-month change of -3.3% per square meter (June to July)
Total Inventory
July 2023: 19,419 total units at ¥437,400 per square meter
July 2022: 15,965 total units at ¥429,500 per square meter
Year-over-year change of 1.8% per square meter
Month-to-month change of -0.4% per square meter (June to July)
Total Inventory year over year change: 21.6%
Osaka City
Units Sold
July 2023: ¥610,200 per square meter a total of 417 units sold
July 2022: ¥517,000 per square meter a total of 375 units sold
Year-over-year change of 18.0% per square meter
Month-to-month change of 11.0% per square meter (June to July)
July 2023: ¥36,540,000 average price
July 2022: ¥31,690,000 average price
Year-over-year change of 15.3%
Month-to-month change of 7.3% (June to July)
Average Floor Area: 59.88m2
Average Age: 23.08 years
New Properties Listed
July 2023: ¥577,300 per square meter a total of 1,793 units listed
July 2022: ¥590,400 per square meter a total of 1,640 units listed
Year-over-year change of -2.2% per square meter
Month-to-month change of -2.4% per square meter (June to July)
July 2023: ¥30,920,000 average price
July 2022: ¥30,420,000 average price
Year-over-year change of 1.6%
Month-to-month change of 1.9% (June to July)
Average Floor Area: 53.56m2
Average Age: 24.11 years
Northern Osaka (Hokusetsu Area)
Units Sold
July 2023: ¥412,400 per square meter a total of 148 units sold
July 2022: ¥382,400 per square meter a total of 174 units sold
Year-over-year change of 7.8% per square meter
Month-to-month change of 6.6% per square meter (June to July)
June 2023: ¥31,420,000 average price
June 2022: ¥28,390,000 average price
Year-over-year change of 10.7%
Month-to-month change of 7.5% (June to July)
Average Floor Area: 76.21m2
Average Age: 26.03 year
New Properties Listed
July 2023: ¥404,900 per square meter a total of 504 units listed
July 2022: ¥408,400 per square meter a total of 406 units listed
Year-over-year change of -0.9% per square meter
Month-to-month change of -0.8% per square meter (June to July)
July 2023: ¥29,280,000 average price
July 2022: ¥30,860,000 average price
Year-over-year change of -5.1%
Month-to-month change of -1.7% (June to July)
Average Floor Area: 72.32m2
Average Age: 31.03 years
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
July 2023: average price of ¥22,490,000 for a total of 999 homes sold
July 2022: average price of ¥22,390,000 for a total of 877 homes sold
Year-over-year change of 0.4% (average price)
Month-to-month change of -3.2% (average price from June to July)
Average Land Area: 135.31m2
Average Building Area: 109.30m2
Average Age: 28.01 years
New Homes Listed
July 2023: average price of ¥26,710,000 for a total of 3,713 homes listed
July 2022: average price of ¥26,670,000 for a total of 2,781 homes listed
Year-over-year change of 0.2% (average price)
Month-to-month change of 2.3% (average price from June to July)
Average Land Area: 136.47m2
Average Building Area: 148.95m2
Average Age: 28.04 years
Total Inventory
July 2023: average price of ¥26,210,000 for a total of 14,188 homes
July 2022: average price of ¥26,130,000 for a total of 11,126 homes
Year-over-year change of 0.3% (average price)
Month-to-month change of -0.2% (average price from June to July)
Average Land Area: 140.51m2
Average Building Area: 121.20m2
Average Age: 29.04 years
Northern Osaka (Hokusetsu Area)
Homes Sold
July 2023: average price of ¥36,950,000 for a total of 75 homes sold
July 2022: average price of ¥34,310,000 for a total of 62 homes sold
Year-over-year change of 7.7% (average price)
Month-to-month change of 8.0% (average price from June to July)
Average Land Area: 127.72m2
Average Building Area: 115.84m2
Average Age: 24.04 years
New Properties Listed
July 2023: average price of ¥41,360,000 for a total of 235 homes listed
July 2022: average price of ¥38,970,000 for a total of 195 homes listed
Year-over-year change of 6.1% (average price)
Month-to-month change of 6.6% (average price from June to July)
Average Land Area: 136.68m2
Average Building Area: 120.22m2
Average Age: 24.11 years
３．Land Sales
Kansai Region
Lots Sold
July 2023: average price per square meter of ¥144,000 for a total of 578 lots sold
July 2022: average price per square meter of ¥144,800 for a total of 529 lots sold
Year-over-year change of -0.6% price per square meter
Month-to-month change of -5.7% price per square meter (June to July)
July 2023: ¥22,240,000 average price
July 2022: ¥23,330,000 average price
Year-over-year change of -4.7%
Month-to-month change of -8.5% (June to July)
Average Land Area: 154.48m2
New Properties Listed
July 2023: average price per square meter of ¥150,900 for a total of 2,967 lots listed
July 2022: average price per square meter of ¥137,000 for a total of 2,602 lots listed
Year-over-year change of 9.9% price per square meter
Month-to-month change of -4.0% price per square meter (June to July)
July 2023: ¥23,720,000 average price
July 2022: ¥22,280,000 average price
Year-over-year change of 6.5%
Month-to-month change of -4.2% (June to July)
Average Land Area: 157.53m2
Total Inventory
July 2023: 14,164 total lots at ¥120,800 per square meter
July 2022: 11,781 total lots at ¥112,200 per square meter
Year-over-year change of 12.08% per square meter
Month-to-month change of 7.7% per square meter (June to July)
July 2023: ¥20,150,000 average price
July 2022: ¥18,800,000 average price
Year-over-year change of 7.2%
Month-to-month change of -0.7% (June to July)
Average Land Area: 166.88m2
Northern Osaka (Hokusetsu Area)
Lots Sold
July 2023: average price per square meter of ¥216,700 for a total of 48 lots sold
July 2022: average price per square meter of ¥213,100 for a total of 42 lots sold
Year-over-year change of 1.7% price per square meter
Month-to-month change of -11.4% price per square meter (June to July)
July 2023: ¥30,120,000 average price
July 2022: ¥33.980,000 average price
Year-over-year change of -11.4%
Month-to-month change of -9.8% (June to July)
Average Land Area: 138.97m2
New Properties Listed
July 2023: average price per square meter of ¥258,600 for a total of 202 lots listed
July 2022: average price per square meter of ¥259,000 for a total of 153 lots listed
Year-over-year change of -0.2% price per square meter
Month-to-month change of 3.3% price per square meter (June to July)
July 2023: ¥36,860,000 average price
July 2022: ¥38,170,000 average price
Year-over-year change of -3.4%
Month-to-month change of 1.4% (June to July)
Average Land Area: 142.53m2
Market Analysis
Condominiums
Compared to June, the supply-demand balance in terms of number of contracts eased, while prices returned to a slightly tighter level due to a rebound in contract prices.
Number of Sales
The number of pre-owned condominium contracts in the Kinki region increased 3.5% year-on-year to 1,453, marking the first year-on-year increase in four months. The number of contracts has been increasing and decreasing since 2010, but in July it turned upward again. The number of contracts increased for the first time in four months, up 3.5% y-o-y to 1,453 in July, and up 3.5% y-o-y to 1,453 in July.
New Listings
The number of new registrations in the Kinki region reached 5,493, up 17.0% from the previous year, marking a double-digit increase for the seventh consecutive month. The rate of increase in new listings far outpaced the number of contracts, and selling pressure remains high.
Contracted unit (m²) price
The unit price per contracted m² for existing condominiums in the Kinki region was 423,900/m², up 9.1% from the previous year. The price was also up 8.3% from the previous month.
Newly listed unit (m² ) price
Newly registered m² unit price in the Kinki region was 431,300yen/m², down 0.6% y-o-y and the first monthly decline in six months. It was also down 3.3% from the previous month.
7 regions saw a year-on-year increase in the number of contracts, while 6 regions saw an increase in the unit price per m².
The number of contracts increased year-on-year in 7 of the 12 regions, and the number of areas where contracts increased increased increased by 2 compared to the previous month. The number of contracts increased year-on-year in 7 of the 12 regions covered, and the number of areas with year-on-year increases increased in 2 regions. Of the areas with year-on-year increases, Osaka City and Nara Prefecture saw double-digit year-on-year increases, and for the first time in 5 periods in eastern Osaka Prefecture and for the first time in 4 periods in Osaka City and Kobe City, the number of areas with year-on-year increases in existing condo transactions increased.
The number of areas where sales increased was the same as in the previous month. Of the 12 regions, Osaka City, Kobe City, and Shiga Prefecture saw double-digit year-on-year increases, with Shiga Prefecture recording its sixth consecutive month of year-on-year increase. Amid the increase in transactions, the unit price per m² also showed signs of strengthening.
Detached Homes
Compared to June, the supply-demand balance on the price side remained almost unchanged, while the supply-demand balance on the number side continued to shift in the direction of easing.
Number of Sales
The number of contracts for existing detached houses in the Kinki region was 999, up 13.9% y-o-y, a double-digit increase for the third consecutive month.
The number of contracts for existing detached houses in the Kinki region was 999, a double-digit increase of 13.9% y-o-y, marking the third consecutive month of year-on-year growth. Transactions continued to increase, with a 1.5% increase over July 2017, remaining above the pre-Corona disaster level.
New Listings
In the Kinki region, the number of new registrations was 3,713, a significant increase of 26.9% year-on-year, marking the seventh consecutive month in which the number of new registrations exceeded that of the same month last year. The number of new listings increased at a relatively high rate, as did the number of existing condominiums, indicating that selling pressure on existing detached houses is continuing to be strong.
Sales prices
The contract price of existing detached houses in the Kinki region remained almost unchanged at 22.49 million yen, up 0.4% from the previous year. The price fell 3.2% from the previous month. As with the price per m² of used condominiums, the price of used detached houses turned positive.
Newly Listed Prices
Newly registered prices in the Kinki region were up 0.2% year-on-year to 26.71 million yen, marking the seventh consecutive month of year-on-year increase, although prices remained almost unchanged. Newly registered prices in the Kinki region rose 2.3% from the previous month.
9 regions saw a year-on-year increase in the number of contracts signed, while 5 regions saw an increase in contract prices
The number of contracts increased year-on-year in 9 of the 12 regions, and the number of areas with increases was up 2 regions from the previous month. Among the areas that saw increases, Osaka City and the northern, eastern, and southern parts of Osaka Prefecture, as well as Nara Prefecture, saw double-digit increases, while Osaka City saw its 12th consecutive month of growth, expanding the number of areas where transactions were strong.
Contract prices rose year-on-year in 5 of the 12 regions, while the number of areas with rising prices decreased by 1 region from the previous month. Among the rising areas, Osaka City and Eastern Osaka saw double-digit price increases, with prices in Eastern Osaka and Osaka City rising for the eighth consecutive month and fourth consecutive month, respectively, from the same month last year.
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For the original data in Japanese click here → Kinki