According to the survey conducted by the Japanese Real Estate Research Institute on September 27, 2019, which examined the real estate markets of major cities worldwide as of October, apartment prices in Osaka saw the most significant increase. Compared to the previous survey in April 2019, prices in Osaka rose by 3.3%, marking the first time Osaka topped the list. The primary driver behind this surge was the purchase of high-end properties in Osaka by wealthy individuals from both within Japan and overseas.

Osaka offers a variety of properties that are more affordable compared to Tokyo, providing greater potential for appreciation, which forms the backdrop of this event. In contrast, the rise in apartment prices in Tokyo was only 0.3%.

Regarding rental rates, Osaka experienced an increase of 0.3%, ranking sixth. Meanwhile, apartment rents in Tokyo grew by 1.0%, moving up one spot to second place compared to the previous survey.

In Hong Kong, China, where anti-government protests continued, apartment prices remained negative since the last survey but showed signs of recovery as the decline narrowed, indicating a move away from the bottom. However, office property prices and rents continued to fall.

This survey is conducted biannually in April and October. Real estate appraisers examine housing prices and new contract rents in 14 key cities across Asia, Europe, and the Americas as part of the index.