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Analysis of Rental Prices in Osaka's 24 Wards

In a newly released study by At Home Co., Ltd., the changes in rental prices in Osaka's 24 wards were thoroughly analyzed, comparing data from September 2023 to a future projection for September 2025. This research has been conducted in collaboration with At Home Lab Co., Ltd., aimed at providing insightful data regarding the local real estate market.

Current Trends in Rental Prices

Osaka is currently witnessing a surge in rental prices across all 24 wards, driven by significant infrastructural developments such as the opening of the Naniwa Line and ongoing urban redevelopment projects in station areas. Factors such as continuous housing demand and expectations for the future are contributing to this increase. Notably, the rental prices for single-occupant apartments have risen throughout all wards, with the most substantial hike observed in Minato Ward, recording a remarkable increase of 19.9%. This rise is largely attributed to the growing demand for staff and tourism-related personnel near the area surrounding the Expo venue.

When it comes to family-oriented rentals, Higashiyodogawa Ward experienced the highest percentage increase at 28.7%, primarily due to the introduction of new large-scale condominiums near the Shin-Osaka station. Similar notable increases can be seen in neighboring wards like Miyakojima and Higashinari, indicating strong demand close to central Osaka.

Insights from At Home Lab

According to Junko Iwama, Executive Officer and Head of Data Marketing at At Home Lab Co., Ltd., the momentum for rental demand is expected to persist even after the Expo. Large development projects, including the construction of the integrated resort (IR) featuring a casino and new transit lines connecting the northern and southern parts of the city, are anticipated to further stimulate rental demand. This projection is supported by local real estate agencies that express optimism in the impending revitalization of the rental market.

Detailed Rental Rates by Ward

1. For Single-Occupancy Apartments

• - High Rental Prices: The most expensive rental prices are found in central areas such as Chuo Ward and Nishi Ward, averaging around 70,000 yen per month.
• - Highest Rate of Increase: The western districts, particularly Minato Ward, Taisho Ward, and Nishi-Yodogawa Ward, alongside near-central areas like Higashinari Ward, have shown remarkable increases.
• - Context of Price Rise: Factors like redevelopment projects around Bentencho station in Minato Ward and the influx of workers associated with Expo-related projects in Nishi-Yodogawa and Taisho Wards have elevated rental prices significantly.

2. For Family-Oriented Apartments

• - Top-Ranked Districts: The top six districts catering to families include familiar names such as Chuo Ward, Kita Ward, Nishi Ward, Tennoji Ward, Naniwa Ward, and Fukushima Ward, indicating a consistent trend with single-occupant apartments.
• - Above Average Prices: Only these top six districts exhibit rental prices above the city’s average.
• - Significant Increases: The northern areas, particularly Higashiyodogawa Ward and other nearby wards like Miyakojima and Kita Ward, are notable for their steep increases.
• - Cultural Influence: Naniwa Ward has seen a high proportion of foreign residents, boosted by the thriving vacation rental market, contributing to the soaring rents in the area.

Conclusion

The comparison of rental prices from September 2023 to September 2025 clearly outlines the dynamic nature of Osaka’s housing market. Following the major infrastructure initiatives and cultural events such as the Expo, the rental sector is poised for further growth. Ongoing urban development, coupled with changes in residential demands, delineates a promising future for both tenants and property investors in the Osaka area.