Wakayama Real Estate Insights: Navigating Trends and Investment Opportunities
Wakayama, located in the Kansai region of Japan, presents a diverse real estate market spanning urban centers like Wakayama City and coastal areas such as Shirahama Town and Shingu City. Characterized by an aging population and a slight decline in population growth (-1.2%), the prefecture balances traditional living with modern amenities. With a high percentage of home ownership (73%), robust employment (96.1%), and an abundance of educational and retail facilities, Wakayama offers residents a solid quality of life while providing investors with insights into regional dynamics. This setting, coupled with varying price trends across cities like Kainan City and Hashimoto City, makes Wakayama a compelling case study for both local buyers and foreign investors.
Ratio of population of foreigners (per 100,000 persons)
653.5
Aging index
304
Rate of population change
-1.2%
Yearly average of air temperature
17.3
Yearly average of relative humidity
69%
Yearly clear days
26
Number of elementary schools (per inhabitable area 100 km2)
21.9
Number of lower secondary schools (per inhabitable area 100 km2)
11.31
Number of upper secondary schools (per inhabitable area 100 km2)
4.18
Percentage of persons employed
96.1%
Unemployment rate (Both sexes)
3.9%
Percentage of owned houses
73%
Number of retail stores (per 1,000 persons)
9.67
Number of eating and drinking places (per 1,000 persons)
4.59
Number of department stores and general merchandise stores (per 100,000 persons)
1.31
Number of traffic accidents (per 100,000 persons)
153.8
Number of recognitions of criminal offenses (per 1,000 persons)
3.62
Amount of damage by disasters (per capita)(30 years average)
￥12324
Areas in Wakayama
| Area | Median Price per m² | Growth over last 5 years |
|---|---|---|
| Wakayama City | ￥109,348 | -23.5% |
| Kainan City | ￥93,333 | 2.7% |
| Iwade City | ￥69,789 | -52.6% |
| Hashimoto City | ￥62,400 | -4.4% |
| Kinokawa City | ￥58,928 | -10.0% |
| Shingu City | ￥56,122 | -11.9% |
| Shirahama Town, Nishimuro County | ￥48,275 | -24.6% |
| Tanabe City | ￥44,000 | -48.0% |
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