Authored by the expert who managed and guided the team behind the Japan Property Pack
Yes, the analysis of Osaka's property market is included in our pack
Osaka has become one of Japan's most attractive cities for foreign property investors, thanks to strong rental demand, major redevelopment projects, and prices that remain more accessible than Tokyo.
But not all neighborhoods in Osaka perform equally, and picking the wrong area can mean weak yields, poor resale liquidity, or regulatory headaches with short-term rentals.
This guide breaks down Osaka's real estate market area by area, with actual data on prices, yields, and what to watch out for, and we constantly update this blog post to keep it current.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Osaka.
What's the Current Real Estate Market Situation by Area in Osaka?
Which areas in Osaka have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive areas for residential property in Osaka are Umeda/Umekita in Kita-ku, Nakanoshima/Dojima along the riverfront, and the Kitahama/Hommachi corridor in Chuo-ku, where new towers and rail access push prices to the top of the market.
In these prime inner-core neighborhoods of Osaka, existing condos typically trade between 900,000 and 1,400,000 yen per square meter, while newer premium towers can exceed 1,500,000 yen per square meter.
Each of these areas commands high prices for distinct reasons that go beyond simple "central location" logic:
- Umeda/Umekita (Kita-ku): the Grand Green Osaka redevelopment is creating a new live-work-leisure hub north of Osaka Station
- Nakanoshima/Dojima (Kita-ku): riverfront towers combined with walkable access to Osaka's main business district
- Kitahama/Hommachi (Chuo-ku): multi-line metro access (Midosuji, Chuo, Yotsubashi) ensures strong resale liquidity even in slower markets
- Horie/Shinmachi (Nishi-ku): lifestyle premium from cafes and boutiques, plus proximity to Shinsaibashi without the tourist crowds
Which areas in Osaka have the most affordable property prices in 2026?
As of early 2026, the most affordable areas for residential property in Osaka are Higashisumiyoshi-ku (around Komagawa-Nakano), Sumiyoshi-ku (near Abiko), Hirano-ku (especially Kire-Uriwari), and parts of Joto-ku away from the busiest stations.
In these outer-ward neighborhoods of Osaka, existing condos typically trade between 300,000 and 550,000 yen per square meter, which is roughly one-third to one-half of prime inner-core pricing.
The main trade-offs buyers should expect vary by area: in Higashisumiyoshi-ku and Hirano-ku, you'll find longer commute times and fewer dining options, while Sumiyoshi-ku offers a quieter residential feel but less rental liquidity, and Joto-ku pockets can have older building stock that requires renovation budgets.
You can also read our latest analysis regarding housing prices in Osaka.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Japan. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Which Areas in Osaka Offer the Best Rental Yields?
Which neighborhoods in Osaka have the highest gross rental yields in 2026?
As of early 2026, the neighborhoods in Osaka delivering the highest gross rental yields are Tennoji/Uehommachi (around 5% to 6%), Fukushima near the station (around 4.5% to 5.5%), Tenma/Nakazakicho in Kita-ku (around 4.5% to 5.5%), and selected blocks in Tsuruhashi/Momodani (up to 6% to 7% in the right buildings).
Across Osaka as a whole, typical gross rental yields range from about 3% to 4% in prime areas, 4% to 5.5% in upper-mid central nodes, and 5.5% to 7% in outer-ward value pockets, though the higher yields come with more tenant-quality dispersion.
Each of these top-yielding neighborhoods delivers stronger returns for specific reasons:
- Tennoji/Uehommachi (Tennoji-ku): major rail hub with stable family demand keeps rents firm while prices stay below Umeda levels
- Fukushima (Fukushima-ku): central location feel without central location pricing, popular with young professionals
- Tenma/Nakazakicho (Kita-ku): smaller units rent quickly to singles, and purchase prices sit well below nearby Umeda peak
- Tsuruhashi/Momodani (Ikuno-ku): lower entry prices can produce strong yields, but building condition and exact block matter significantly
Finally, please note that we cover the rental yields in Osaka here.
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Which Areas in Osaka Are Best for Short-Term Vacation Rentals?
Which neighborhoods in Osaka perform best on Airbnb in 2026?
As of early 2026, the neighborhoods in Osaka that perform best on Airbnb are Dotonbori/Shinsaibashi/Amerikamura in Chuo-ku, Namba/Nipponbashi in Naniwa-ku, Tennoji near the station, and the Universal Studios access corridor in Konohana-ku, where tourist foot traffic and airport connections drive strong occupancy.
Top-performing Airbnb properties in these Osaka neighborhoods can generate monthly revenues ranging from roughly 200,000 to 400,000 yen for well-located one-bedroom units, though this varies significantly by season, unit quality, and whether you're operating legally under the Minpaku Act's 180-day cap or a hotel license.
Each of these areas outperforms for distinct reasons beyond just "lots of tourists":
- Dotonbori/Shinsaibashi (Chuo-ku): iconic canal views and walkable nightlife make it the default first-timer Osaka experience
- Namba/Nipponbashi (Naniwa-ku): direct Nankai Airport Express access means guests can arrive and start exploring within minutes
- Tennoji (Tennoji-ku): rail hub connecting to Kansai Airport plus Abeno Harukas draws both tourists and domestic travelers
- Konohana-ku (Universal Studios corridor): family travelers with kids book early and stay multiple nights near the theme park
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Osaka.
Which tourist areas in Osaka are becoming oversaturated with short-term rentals?
The tourist areas in Osaka showing the clearest signs of short-term rental oversaturation are the Dotonbori canal edges and Shinsaibashi shopping streets in Chuo-ku, the Namba station catchment including Ebisubashi and Nipponbashi in Naniwa-ku, and the Shinsekai/Tsutenkaku perimeter in Naniwa-ku.
In these oversaturated pockets of Osaka, the density of active short-term rental listings has created noticeable competition, with hundreds of units clustered within a few-minute walk of each other, pushing operators to cut prices or struggle with vacancy outside peak seasons.
The clearest indicator that these Osaka areas have reached oversaturation is rising resident complaints about noise, garbage, and "suitcase traffic," which MLIT explicitly cites as the reason Japan's Minpaku Act exists, and when complaints rise, enforcement tends to tighten, making previously tolerated operations suddenly risky.
We have made this infographic to give you a quick and clear snapshot of the property market in Japan. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which Areas in Osaka Are Best for Long-Term Rentals?
Which neighborhoods in Osaka have the strongest demand for long-term tenants?
The neighborhoods in Osaka with the strongest demand for long-term tenants are Hommachi in Chuo-ku, the Umeda fringe zones like Tenjinbashi-suji Rokuchome and Tenma in Kita-ku, Fukushima Station area, and Tennoji Station area, all of which combine excellent rail access with job proximity.
In these high-demand Osaka neighborhoods, well-priced units in good condition typically rent within two to four weeks of listing, and vacancy rates tend to stay below 5% for buildings near major stations.
Each neighborhood attracts a distinct tenant profile:
- Hommachi (Chuo-ku): corporate employees and consultants who want a short commute to CBD offices
- Tenjinbashi-suji Rokuchome/Tenma (Kita-ku): young professionals who want Umeda access at lower rents
- Fukushima (Fukushima-ku): couples and single professionals drawn to the "central but livable" reputation
- Tennoji (Tennoji-ku): families and hospital workers near the medical cluster and retail amenities
The key characteristic that makes these Osaka neighborhoods attractive to long-term tenants is multi-line rail access: Hommachi sits on three metro lines, Fukushima is walkable to both JR and Hanshin stations, and Tennoji is a major JR and metro interchange, so tenants know they can reach anywhere in Kansai without transfers.
Finally, please note that we provide a very granular rental analysis in our property pack about Osaka.
What are the average long-term monthly rents by neighborhood in Osaka in 2026?
As of early 2026, average long-term monthly rents in Osaka vary significantly by neighborhood: a studio in Umeda/Umekita runs about 85,000 to 125,000 yen, while the same unit in outer wards like Hirano or Sumiyoshi costs closer to 45,000 to 70,000 yen.
For entry-level apartments in Osaka's most affordable neighborhoods (outer wards like Higashisumiyoshi-ku, Sumiyoshi-ku, or Hirano-ku), expect to pay roughly 45,000 to 70,000 yen per month for a studio or 1K unit of 20 to 30 square meters.
For mid-range apartments in average-priced Osaka neighborhoods like Fukushima or Tennoji, a 1LDK or 2LDK unit of 40 to 60 square meters typically rents for 135,000 to 210,000 yen per month.
For high-end apartments in Osaka's most expensive neighborhoods like Umeda/Umekita or Nakanoshima, a family-sized unit of 70 to 90 square meters commands 260,000 to 420,000 yen per month.
You may want to check our latest analysis about the rents in Osaka here.
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Which Are the Up-and-Coming Areas to Invest in Osaka?
Which neighborhoods in Osaka are gentrifying and attracting new investors in 2026?
As of early 2026, the neighborhoods in Osaka that are actively gentrifying and attracting new investors include Nakazakicho in Kita-ku (a creative pocket near Umeda), Tenma/Temma along the food corridor, Fukushima with its steadily upgrading building stock, the Tanimachi 6-chome to Temmabashi corridor in Chuo-ku, and selectively, Tengachaya in Nishinari-ku where improving access meets value pricing.
These gentrifying Osaka neighborhoods have seen annual price appreciation of roughly 3% to 6% over the past two to three years, outperforming outer wards while still offering entry prices below the absolute prime core.
Which areas in Osaka have major infrastructure projects planned that will boost prices?
The areas in Osaka with major infrastructure projects most likely to boost property prices are Umekita/Grand Green Osaka in Kita-ku, Yumeshima/Osaka Bay in Konohana-ku (tied to the Integrated Resort timeline), and the broader Umeda-Nakanoshima-Hommachi spine where cumulative CBD upgrades keep tightening supply.
The specific projects driving these areas include Grand Green Osaka (the Umekita Phase 2 redevelopment transforming the area north of Osaka Station into a mixed-use destination) and the Yumeshima Integrated Resort scheduled for around 2030, designed to sustain inbound tourism beyond the 2025 Expo.
Historically in Osaka, areas near completed major infrastructure projects have seen price increases of 10% to 20% in the years following project completion, with the strongest gains in properties within a 10-minute walk of new stations or landmark developments.
You'll find our latest property market analysis about Osaka here.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Japan versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which Areas in Osaka Should I Avoid as a Property Investor?
Which neighborhoods in Osaka with lots of problems I should avoid and why?
The areas in Osaka that investors should approach with caution include specific micro-zones in Nishinari-ku (particularly blocks historically associated with social distress), tourist-core pockets in Chuo-ku and Naniwa-ku with high STR conflict risk, and far-from-station outer pockets with aging building stock across multiple wards.
Each of these problem areas has distinct issues that can trap unwary investors:
- Parts of Nishinari-ku: resale liquidity is highly block-specific, financing can be difficult, and tenant quality unpredictable
- Dotonbori/Namba tourist core (Chuo-ku/Naniwa-ku): neighbor complaints about STR noise and garbage invite regulatory crackdowns
- Remote outer-ward pockets (Hirano-ku, Higashisumiyoshi-ku edges): cheap entry prices get wiped out by vacancy and renovation costs
For these Osaka neighborhoods to become viable investment options, Nishinari-ku would need continued improvement in the Tengachaya node spreading to adjacent blocks, the tourist cores would need clearer STR enforcement rules that reduce uncertainty, and outer pockets would need new station access or major employers to anchor tenant demand.
Buying a property in the wrong neighborhood is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Osaka.
Which areas in Osaka have stagnant or declining property prices as of 2026?
As of early 2026, the areas in Osaka most likely to show stagnant or underperforming prices relative to the city average are parts of Hirano-ku, Higashisumiyoshi-ku, and Sumiyoshi-ku farther from strong stations, plus building-specific pockets in Nishinari-ku outside improving nodes like Tengachaya.
While Osaka Prefecture overall has seen resale prices rise through late 2025, these underperforming areas have lagged by roughly 5% to 10% compared to the inner core, meaning they've barely kept pace with inflation rather than experiencing real appreciation.
Each stagnating area has specific underlying causes:
- Hirano-ku (far from Tanimachi Line): aging population and limited retail make it hard to attract younger renters
- Higashisumiyoshi-ku (bus-dependent pockets): long commute times to CBD reduce appeal for working professionals
- Sumiyoshi-ku (away from Midosuji Line): quieter residential character limits rental demand to families only
- Nishinari-ku (non-Tengachaya blocks): persistent stigma and building quality issues limit buyer pool
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Which Areas in Osaka Have the Best Long-Term Appreciation Potential?
Which areas in Osaka have historically appreciated the most recently?
The areas in Osaka that have appreciated most strongly over the past five to ten years are Kita-ku (especially Umeda/Umekita), Chuo-ku (Hommachi and Kitahama), Nishi-ku (Horie and Shinmachi), and Fukushima-ku near the station, all of which have benefited from new-build pricing pressure and redevelopment.
Here's what these top-performing Osaka areas have achieved:
- Umeda/Umekita (Kita-ku): roughly 40% to 60% total appreciation over the past decade, driven by Grand Green Osaka anticipation
- Hommachi/Kitahama (Chuo-ku): roughly 30% to 45% total appreciation as the business-core residential option
- Horie/Shinmachi (Nishi-ku): roughly 25% to 40% total appreciation from lifestyle-driven demand
- Fukushima (Fukushima-ku): roughly 25% to 35% total appreciation as the "central-livable" sweet spot
The main driver behind above-average appreciation in these Osaka areas was the combination of constrained new supply (limited buildable land in the core), sustained domestic and foreign buyer demand, and specific catalysts like the Umekita redevelopment that reset comparable prices upward.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in Osaka.
Which neighborhoods in Osaka are expected to see price growth in coming years?
The neighborhoods in Osaka expected to see the strongest price growth in coming years are Umekita fringe zones like Nakazakicho and Tenma (spillover from Umeda), Fukushima for its continuing "central-livable" premium, Tennoji/Uehommachi as a rail hub with stable demand, and bay-side nodes in Konohana-ku tied to the Yumeshima IR story.
Projected annual price growth for these high-potential Osaka neighborhoods:
- Nakazakicho/Tenma (Kita-ku): roughly 4% to 6% annually as Umeda spillover continues
- Fukushima (Fukushima-ku): roughly 3% to 5% annually as stock quality keeps improving
- Tennoji/Uehommachi (Tennoji-ku): roughly 3% to 4% annually from steady rail-hub demand
- Konohana-ku (bay-side): potentially 5% to 8% annually if IR proceeds on schedule, but with more volatility
The single most important catalyst expected to drive future price growth in these Osaka neighborhoods is the continued completion of Umekita/Grand Green Osaka through 2027, which will pull demand into adjacent areas that offer similar convenience at lower entry prices.
We made this infographic to show you how property prices in Japan compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What Do Locals and Expats Really Think About Different Areas in Osaka?
Which areas in Osaka do local residents consider the most desirable to live?
The areas in Osaka that local residents consistently consider most desirable to live are Umeda/Umekita-adjacent parts of Kita-ku (though expensive), Fukushima for its balance of convenience and livability, Tennoji/Uehommachi for family-friendliness, and Horie/Shinmachi in Nishi-ku for its cafe culture and boutique shopping.
Each area appeals to locals for specific reasons:
- Umeda fringe (Kita-ku): unmatched access to shopping, dining, and transit without being in the tourist crowds
- Fukushima (Fukushima-ku): walkable restaurants and bars plus quick CBD access, feels like a village in the city
- Tennoji/Uehommachi (Tennoji-ku): family amenities like parks and schools, plus Abeno's retail options
- Horie/Shinmachi (Nishi-ku): trendy but residential vibe, popular with creative professionals and couples
These locally-preferred Osaka areas tend to attract upper-middle-class families in Tennoji, young professionals and couples in Fukushima and Horie, and established professionals willing to pay premiums near Umeda.
Local preferences in Osaka largely align with what savvy foreign investors target (strong rail access, livable neighborhoods), but diverge when it comes to tourist-heavy areas like Dotonbori, which locals avoid for daily life but some foreign buyers chase for STR potential.
Which neighborhoods in Osaka have the best reputation among expat communities?
The neighborhoods in Osaka with the best reputation among expat communities are Umeda/Nakanoshima in Kita-ku, Hommachi/Kitahama in Chuo-ku, and Tennoji/Abeno for families, all of which combine English-friendly services with high-quality rental stock and excellent transit.
Expats prefer these Osaka neighborhoods for specific practical reasons:
- Umeda/Nakanoshima (Kita-ku): international offices nearby, modern apartment towers, and familiar retail chains
- Hommachi/Kitahama (Chuo-ku): central business district walkability plus newer buildings with English-capable management
- Tennoji/Abeno (Tennoji-ku): family-friendly with international schools accessible, plus Kansai Airport connections
The expat profile in these Osaka neighborhoods tends to be corporate transferees and their families in Umeda and Hommachi, academic researchers affiliated with Osaka University or medical institutions near Tennoji, and increasingly, remote workers who chose Osaka for its lower cost versus Tokyo.
Which areas in Osaka do locals say are overhyped by foreign buyers?
The areas in Osaka that locals most commonly say are overhyped by foreign buyers are Dotonbori/Shinsaibashi in Chuo-ku, Namba in Naniwa-ku, and the Shinsekai edges also in Naniwa-ku, where the tourist experience is exciting but daily livability is poor.
Locals believe these areas are overvalued for specific reasons:
- Dotonbori/Shinsaibashi (Chuo-ku): constant tourist noise, limited grocery options, and STR regulatory risk
- Namba (Naniwa-ku): crowded streets and commercial character mean few locals actually want to live there
- Shinsekai (Naniwa-ku): "retro charm" that tourists love masks infrastructure age and limited residential appeal
Foreign buyers typically see these areas as guaranteed STR goldmines with iconic backdrops, while locals understand that high tourist traffic creates neighbor complaints, regulatory scrutiny, and the kind of wear-and-tear that erodes building value over time.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in Osaka.
Which areas in Osaka are considered boring or undesirable by residents?
The areas in Osaka that residents commonly consider boring or undesirable are outer residential pockets far from major stations in Hirano-ku, Higashisumiyoshi-ku, and Sumiyoshi-ku, plus micro-areas in Nishinari-ku outside improving nodes, where limited amenities and longer commutes reduce appeal.
Residents find these Osaka areas boring or undesirable for practical reasons:
- Hirano-ku (away from Tanimachi Line): few restaurants, limited nightlife, and a bus-dependent commute
- Higashisumiyoshi-ku (outer edges): residential character is sleepy, with little reason to visit unless you live there
- Sumiyoshi-ku (away from Midosuji Line): quiet family neighborhoods that feel disconnected from city energy
- Nishinari-ku (non-Tengachaya): conditions vary dramatically by block, with some areas carrying persistent stigma
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Osaka, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| MLIT Real Estate Transaction Prices | Japanese government body publishing official closed-price transaction data | We used it as the ground truth for actual transaction prices, not asking prices. We sanity-checked neighborhood price bands against their datasets. |
| Tokyo Kantei Resale Condo Series | Long-running, widely cited Japanese housing data provider with transparent methodology | We anchored Osaka Prefecture's resale condo trend and price levels to their series. We used it to verify our neighborhood estimates match the macro direction. |
| Tokyo Kantei Rent Series | Established monthly methodology tracking rent per square meter across major cities | We anchored rent direction for Kansai/Osaka context using their data. We used it to validate our ward-level rent estimates. |
| Savills Osaka Residential Markets | Major global real estate research consultancy with published methodology | We used it for Osaka-specific demand drivers, supply constraints, and major project impacts. We cross-validated "what changed recently" in the market. |
| MLIT Minpaku Portal | Official government portal explaining Japan's short-term rental regulations | We used it to explain which STR models are legal and what compliance means. We framed STR risk by neighborhood based on their regulatory objectives. |
| JNTO Tourism Statistics | Official body publishing inbound tourism metrics and regional visit rates | We used it to support STR demand analysis with actual tourism volume data. We avoided "vibe" claims about inbound-driven neighborhoods. |
| ORIX Grand Green Osaka | Primary corporate source from a lead stakeholder in the Umekita redevelopment | We used it to explain why Umeda/Umekita is structurally improving. We used it as a project reality check for infrastructure-led price appreciation. |
| ORIX Yumeshima IR Timeline | Primary-source statement from a project sponsor on schedule and intent | We used it to frame medium-term catalysts around Yumeshima and the bay area. We separated Expo impulse from IR decade-long impact. |
| Statistics Bureau Housing and Land Survey | Official national survey for housing stock, tenure, and vacancy data | We used it to explain Osaka's owner-occupier versus rental context. We interpreted which areas are structurally tenant-heavy. |
| AirDNA STR Analytics | Major short-term rental analytics provider used by professional operators globally | We used their framework for STR metrics (occupancy, ADR, RevPAR). We localized their approach with Osaka tourism and regulation context. |
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