- Even throughout the pandemic, residential demand in Osaka has been underpinned by positive population growth - a trend that has persisted since 2000. In contrast, Tokyo's residential market has recently shown signs of softening.
- Although COVID-19 has halted growth, rents remain well over 2019 levels.
- Given the circumstances, occupancy levels have understandably shown slight signs of softening. That said, they remain over the crucial 95% mark, indicating that sound leasing demand remains.
- Most of the population growth observed amidst the pandemic was primarily within the central six wards (C6W). Unlike Tokyo, the tendency to move beyond the city borders for larger sized apartments is not apparent in Osaka.
- Redevelopment projects such as the highly anticipated Umekita 2nd Project and other infrastructure improvements across the city should continue to enhance the attractiveness of Osaka over neighbouring areas.
- Supported by its sound economic base, Osaka's economy is expected to recover as the global economy starts moving towards normalcy, and the process of the vaccine rollout should help the ailing tourism and services industry.
