The average price of a sq.m Apartment of Kyoto JR JR Nara Line, in 2017 was 385,714 JPY/sq.m. The market value represents an increase of 83,711 JPY (+27.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 66 (-98.5%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 6.0 years old (a -68.6% decrease compared to the 19.2 years old of last year.). The average size of the real estate was 70.0 sq.m (a +22.5% increase compared to the 57.2 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station.
Cause of price increases
- A dramatic decrease in average age of the building (representing 19.2 years old in 2016 and 6.0 years old in 2017; -68.6%)
- A dramatic decrease in average distance from the station (representing 6.9 min in 2016 and 2.0 min in 2017; -71.1%)
- A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 17.9% of total transactions in 2016 and 100.0% of total transactions in 2017)
The highest Apartment market value is Kyoto at 478,462 JPY/sq.m. On the other hand, those with the lowest market value is Tamamizu at 102,857 JPY/sq.m.
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Tamamizu at -77.0% (The rate of decline after 30 years). On the other hand, market values along the Uji was the most resistant to decline at -36.7% (The same rate).
Data regarding the market value and its changes of Apartment in JR Nara Line were calculated using data on the sales of 726 properties provided by the MLIT Japan.