Osaka rent changes are no longer one-way cuts (rents -0.27%, sale prices -0.84%)
How prices moved
In Osaka in September, sale asking prices moved -0.84% on a matched-listing basis and rents -0.27%. Both fell, rents only slightly.
At every step at least 8,109 sale listings and 1,337 rentals were matched. Units that sell or let drop out, so these figures describe listings that stayed on the market.
Rents split between cuts and rises
Of 4,379 rentals tracked, 5% changed their rent. Cuts were 65.1% of those changes, down from nearly eight in ten in August.
Both kinds of change were large: the median cut was -5.12% and the 76 rises had a median size of 5.67%. Landlords here move rents in steps of several percent rather than nudging them. The small overall change of -0.27% is partly large cuts and large rises cancelling out.
Sale prices keep being cut
Of 9,667 sale listings tracked, 14.3% changed price and 98.8% of the changes were cuts, with a median cut of -4.01%.
| Ward | Listings tracked | Share that moved | Of those, cuts | Median cut |
|---|---|---|---|---|
| Tennoji | 462 | 22.7% | 100% | -3.72% |
| Fukushima | 364 | 18.7% | 100% | -3.68% |
| Tsurumi | 305 | 20.7% | 100% | -3.39% |
| Kita | 1,312 | 17.1% | 99.2% | -4.2% |
| Suminoe | 444 | 15.8% | 98.6% | -4.37% |
| Nishi | 702 | 17.8% | 98.5% | -3.93% |
| Chuo | 818 | 15.3% | 96.2% | -3.39% |
In Tennoji more than one listing in five moved, and every change was a cut.
The steepest age decline of the seven cities
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 1,327 | 13% | ¥1.4M to ¥1.6M |
| 6-10 | 843 | 8.2% | ¥1.2M to ¥1.4M |
| 11-20 | 1,649 | 16.1% | ¥700k to ¥800k |
| 21-30 | 2,263 | 22.1% | ¥500k to ¥600k |
| 31-40 | 1,195 | 11.7% | ¥400k to ¥500k |
| 41+ | 2,953 | 28.9% | ¥300k to ¥400k |
Sale prices per m² fall to roughly half of near-new levels by 11 to 20 years and below a quarter past 41 years: the steepest decline with age of the seven cities reported this month.
| Building age | Listings | Share | Median per m² |
|---|---|---|---|
| 0-5 years | 3,855 | 30.3% | ¥3,358 |
| 6-10 | 2,854 | 22.5% | ¥3,106 |
| 11-20 | 3,449 | 27.1% | ¥2,955 |
| 21-30 | 1,491 | 11.7% | ¥2,679 |
| 31-40 | 738 | 5.8% | ¥2,063 |
| 41+ | 321 | 2.5% | ¥1,901 |
Rents fall far less, so older buildings earn much more rent relative to their price, more so in Osaka than anywhere else here. You can calculate the yield for a property, or explore price against building age.
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 3LDK | 3,621 | 35.4% | ¥500k to ¥600k |
| 2LDK | 2,315 | 22.6% | ¥900k to ¥1M |
| 4LDK | 1,065 | 10.4% | ¥300k to ¥400k |
| 1LDK | 729 | 7.1% | ¥1M to ¥1.1M |
| 2LDK+S | 462 | 4.5% | ¥500k to ¥600k |
| 3DK | 294 | 2.9% | ¥250k to ¥300k |
| 3LDK+S | 223 | 2.2% | ¥400k to ¥500k |
| 4DK | 200 | 2% | ¥200k to ¥250k |
| 5LDK | 192 | 1.9% | ¥300k to ¥400k |
| 1LDK+S | 158 | 1.5% | ¥800k to ¥900k |
| 2DK | 96 | 0.9% | ¥250k to ¥300k |
| Studio | 89 | 0.9% | ¥400k to ¥500k |
| 4LDK+S | 85 | 0.8% | ¥300k to ¥400k |
| 1K | 73 | 0.7% | ¥700k to ¥800k |
| 5DK | 68 | 0.7% | ¥200k to ¥250k |
| 3K | 63 | 0.6% | ¥150k to ¥200k |
| Layout | Listings | Share | Median per m² |
|---|---|---|---|
| 1K | 9,952 | 55.1% | ¥3,104 |
| 1LDK | 4,077 | 22.6% | ¥3,305 |
| 1DK | 1,991 | 11% | ¥3,289 |
| Studio | 814 | 4.5% | ¥2,647 |
| 2LDK | 734 | 4.1% | ¥3,262 |
| 2DK | 152 | 0.8% | ¥1,688 |
| 2K | 141 | 0.8% | ¥3,506 |
| 1SLDK | 92 | 0.5% | ¥3,427 |
| 3LDK | 69 | 0.4% | ¥2,015 |
More than half of rentals are 1Ks, a strongly single-person market.
Levels
In September the median sale listing asked 4,080 man-yen and the median rental 6.9 man-yen a month, or 2,986 yen per m². Medians move with the mix of listings; read them as a level.
About this data
We observed sale listings on 3 days and rentals on 4 days in September, recording 30,438 and 49,233 listings. These are asking prices, not closing prices.
Osaka's matched record starts on 2026-09-01, so this report shows September only. Rents are not broken down by ward because the per-ward samples are too small. Building age is stated on 70.3% of rental listings.