Real Estate Sales
The June Report was publish on October 10, 2023 for the real estate sales for the month of September 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
September 2023: ¥420,700 per square meter a total of 1,409 units sold
September 2022: ¥395,500 per square meter a total of 1,431 units sold
Year-over-year change of 6.4% per square meter
Month-to-month change of -2.1% per square meter (August to September)
September 2023: ¥28,480,000 average price
September 2022: ¥27,270,000 average price
Year-over-year change of 4.4%
Month-to-month change of -3.2% (August to September)
Average Floor Area: 67.69m2
Average Age: 26.07 years
New Properties Listed
September 2023: ¥432,900 per square meter a total of 5,445 units listed
September 2022: ¥440,700 per square meter a total of 4,990 units listed
Year-over-year change of -1.8% per square meter
Month-to-month change of -3.7% per square meter (August to September)
Total Inventory
September 2023: 19,695 total units at ¥436,000 per square meter
September 2022: 16,556 total units at ¥435,400 per square meter
Year-over-year change of 0.1% per square meter
Month-to-month change of -0.7% per square meter (August to September)
Total Inventory year over year change: 19.0%
Osaka City
Units Sold
September 2023: ¥600,300 per square meter a total of 424 units sold
September 2022: ¥564,100 per square meter a total of 367 units sold
Year-over-year change of 6.4% per square meter
Month-to-month change of -5.0% per square meter (August to September)
September 2023: ¥36,270,000 average price
September 2022: ¥34,810,000 average price
Year-over-year change of 4.2%
Month-to-month change of -9.1% (August to September)
Average Floor Area: 60.42m2
Average Age: 23.09 years
New Properties Listed
September 2023: ¥569,700 per square meter a total of 1,789 units listed
September 2022: ¥610,600 per square meter a total of 1,739 units listed
Year-over-year change of -6.7% per square meter
Month-to-month change of -7.3% per square meter (August to September)
September 2023: ¥30,230,000 average price
September 2022: ¥31,860,000 average price
Year-over-year change of -5.1%
Month-to-month change of -8.5% (August to September)
Average Floor Area: 53.07m2
Average Age: 26.01 years
Northern Osaka (Hokusetsu Area)
Units Sold
September 2023: ¥435,100 per square meter a total of 149 units sold
September 2022: ¥405,500 per square meter a total of 185 units sold
Year-over-year change of 7.3% per square meter
Month-to-month change of 3.5% per square meter (August to September)
September 2023: ¥32,590,000 average price
September 2022: ¥30,590,000 average price
Year-over-year change of 6.6%
Month-to-month change of 7.6% (August to September)
Average Floor Area: 74.91m2
Average Age: 25.11 year
New Properties Listed
September 2023: ¥410,500 per square meter a total of 488 units listed
September 2022: ¥396,200 per square meter a total of 431 units listed
Year-over-year change of 3.6% per square meter
Month-to-month change of 2.1% per square meter (August to September)
September 2023: ¥30,300,000 average price
September 2022: ¥29,990,000 average price
Year-over-year change of 1.0%
Month-to-month change of 1.0% (August to September)
Average Floor Area: 73.80m2
Average Age: 30.11 years
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
September 2023: average price of ¥23,430,000 for a total of 944 homes sold
September 2022: average price of ¥23,000,000 for a total of 886homes sold
Year-over-year change of 1.9% (average price)
Month-to-month change of 4.7% (average price from August to September)
Average Land Area: 135.18m2
Average Building Area: 108.89m2
Average Age: 27.03 years
New Homes Listed
September 2023: average price of ¥27,140,000 for a total of 3,868 homes listed
September 2022: average price of ¥27,140,000 for a total of 2,983 homes listed
Year-over-year change of 0.6% (average price)
Month-to-month change of -0.9% (average price from August to September)
Average Land Area: 137.10m2
Average Building Area: 113.02m2
Average Age: 28.10 years
Total Inventory
September 2023: average price of ¥26,350,000 for a total of 14,786 homes
September 2022: average price of ¥26,520,000 for a total of 11,510 homes
Year-over-year change of -0.6% (average price)
Month-to-month change of -0.4% (average price from August to September)
Average Land Area: 140.64m2
Average Building Area: 111.29m2
Average Age: 29.07 years
Northern Osaka (Hokusetsu Area)
Homes Sold
September 2023: average price of ¥32,600,000 for a total of 65 homes sold
September 2022: average price of ¥28,350,000 for a total of 66 homes sold
Year-over-year change of 15.0% (average price)
Month-to-month change of -4.4% (average price from August to September)
Average Land Area: 134.61m2
Average Building Area: 116.63m2
Average Age: 26.06 years
New Properties Listed
September 2023: average price of ¥35,440,000 for a total of 253 homes listed
September 2022: average price of ¥36,750,000 for a total of 176 homes listed
Year-over-year change of -3.6% (average price)
Month-to-month change of -7.3% (average price from August to September)
Average Land Area: 133.28m2
Average Building Area: 117.28m2
Average Age: 26.07 years
３．Land Sales
Kansai Region
Lots Sold
September 2023: average price per square meter of ¥140,700 for a total of 522 lots sold
September 2022: average price per square meter of ¥142,000 for a total of 576 lots sold
Year-over-year change of -0.9% price per square meter
Month-to-month change of -6.0% price per square meter (August to September)
September 2023: ¥22,150,000 average price
September 2022: ¥22,550,000 average price
Year-over-year change of -1.8%
Month-to-month change of -4.4% (August to September)
Average Land Area: 157.49m2
New Properties Listed
September 2023: average price per square meter of ¥152,000 for a total of 3,082 lots listed
September 2022: average price per square meter of ¥137,800 for a total of 2,717 lots listed
Year-over-year change of 10.2% price per square meter
Month-to-month change of -0.3% price per square meter (August to September)
September 2023: ¥24,230,000 average price
September 2022: ¥22,390,000 average price
Year-over-year change of 6.7%
Month-to-month change of -0.1% (August to September)
Average Land Area: 159.45m2
Total Inventory
September 2023: 14,788 total lots at ¥120,200 per square meter
September 2022: 12,043 total lots at ¥111,900 per square meter
Year-over-year change of 6.5% per square meter
Month-to-month change of -0.1% per square meter (August to September)
September 2023: ¥20,110,000 average price
September 2022: ¥19,020,000 average price
Year-over-year change of 5.7%
Month-to-month change of -0.1% (August to September)
Average Land Area: 167.25m2
Northern Osaka (Hokusetsu Area)
Lots Sold
September 2023: average price per square meter of ¥226,300 for a total of 43 lots sold
September 2022: average price per square meter of ¥205,600 for a total of 55 lots sold
Year-over-year change of 10.1% price per square meter
Month-to-month change of 2.8% price per square meter (August to September)
September 2023: ¥32,340,000 average price
September 2022: ¥32,090,000 average price
Year-over-year change of 0.8%
Month-to-month change of -3.5% (August to September)
Average Land Area: 142.93m2
New Properties Listed
September 2023: average price per square meter of ¥257,700 for a total of 201 lots listed
September 2022: average price per square meter of ¥261,000 for a total of 201 lots listed
Year-over-year change of -1.3% price per square meter
Month-to-month change of 1.5% price per square meter (August to September)
September 2023: ¥40,820,000 average price
September 2022: ¥39,600,000 average price
Year-over-year change of 3.1%
Month-to-month change of 8.4% (August to September)
Average Land Area: 158.42m2
Market Analysis
Condominiums
Year-over-year transactions down again in August; selling pressure remains strong.
Number of Sales
The number of pre-owned condominium contracts in the Kinki region fell 1.5% y-o-y to 1,409, following a decline in August. The number of contracts has been fluctuating since 2019, and the volume of transactions has been on a flat trend.
New Listings
The number of new listings in the Kinki region increased for the ninth consecutive month to 5,445, up 9.1% from the same month last year. The number of new registrations remained on an upward trend, and selling pressure in the existing condominium market remained strong.
Contracted unit (m²) price
The unit price per m² of pre-owned condominiums contracted in the Kinki region was ¥420,700/m², up 6.4% from the same month last year, marking the third consecutive month of year-on-year increase. The month-on-month change was down 2.1%.
Newly listed unit (m² ) price
Newly registered m² unit price in the Kinki region fell 1.8% year-on-year to ¥432,900/m², and 3.7% month-on-month.
Compared to the previous year, the number of contracts decreased in 7 regions, while the price per m² increased in 7 regions.
The number of contracts decreased year-on-year in 7 of the 12 regions covered, and the number of areas where contracts decreased decreased decreased by 2 compared to the previous month. Among the areas that saw a decline, those in northern and eastern Osaka Prefecture and the Hanshin area saw double-digit year-on-year declines, with northern Osaka continuing to see a decline for the 11th consecutive month, and other areas where used condominium transactions remain soft.
The price per m² increased year-on-year in 7 of the 12 regions, while the number of areas where the price per m² increased decreased by 3 compared to the previous month. Among the rising areas, Kobe City, Kyoto and other prefectures, and Wakayama Prefecture saw double-digit year-on-year increases, with Kyoto and other prefectures recording their fifth consecutive month of year-on-year increase. Amid continued softness in transactions, the number of areas where unit price per m² increased also decreased.
Detached Homes
Year-over-year transactions increased for the fifth consecutive month, while selling pressure remained strong.
Number of Sales
The number of contracts for existing detached houses in the Kinki region increased 6.5% y-o-y to 944, marking the fifth consecutive month of year-on-year growth. Unlike existing condominiums, detached house transactions are on the rise, up 0.2% y-o-y compared with September 2019, remaining at the pre-pandemic level.
New Listings
In the Kinki region, the number of new registrations was 3,868, up 29.7% year-on-year, marking the ninth consecutive month of year-on-year increase. While the number of contracts signed remained steady, the rate of increase in new registrations continued to outpace the number of contracts signed, and the existing detached house market is also experiencing strong selling pressure.
Sales prices
The contract price of existing detached houses in the Kinki region rose 1.9% year-on-year to 23.43 million yen, marking the third consecutive month of year-on-year increase. The price of used detached houses in the Kinki region rose 4.7% from the previous month, showing that the price of used detached houses is also strengthening, as is the unit price of used condominiums per m².
Newly Listed Prices
The newly registered price in the Kinki region was 27.14 million yen, up 0.6% year-on-year, marking the ninth consecutive month of year-on-year increase, although it remained almost flat. The previous month’s figure was minus 0.9%.
Compared to the previous year, the number of contracts increased in 7 regions and contract prices rose in 7 regions.
The number of contracts increased year-on-year in 7 of the 12 regions, while the number of areas with increases decreased by 2 from the previous month. Of the 12 regions that saw an increase, many areas saw relatively strong transactions, with double-digit increases in eastern and southern Osaka Prefecture and Shiga Prefecture, and an increase for the fifth consecutive month in Kobe City.
Contract prices rose year-on-year in 7 of the 12 regions, with the number of areas with rising prices increasing by one region from the previous month. Among the rising areas, Osaka City, northern and eastern Osaka Prefecture, and Kyoto City saw double-digit price increases, with eastern Osaka rising for the 10th consecutive month and Osaka City for the 6th consecutive month, indicating that prices continue to strengthen, especially in Osaka Prefecture.
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For the original data in Japanese click here → Kinki