Land prices in Osaka Bay area begin to rise

The Osaka Bay area has seen three decades of declining land prices, but with the development of Yumeshima now on the horizon, land prices are finally beginning to rise.

Both Konohana Ward and Suminoe Ward, which are the two entry points to Yumeshima, have registered slightly higher residential land prices after decades of decline or stagnation.

A real estate appraiser explained to the Nihon Keizai Shinbun, “Because of the prospect of the Expo and the IR, I’ve been feeling that prices are now rising a bit in the Bentencho area of Minato Ward.

Bentencho is one of the main junctions leading to the Yumeshima area on the Osaka Metro Chuo Line, and it is where the new theme park Solaniwa Onsen Osaka Bay Tower opened last month.

One key focus going forward is to have sufficient one-room apartments and other amenities available for the thousands of people who will come to work at the Expo and the IR, and who will want to live within convenient distance to Yumeshima.