JR Rikuu East Line Apartment market overview

The average price of a sq.m Apartment of JR Rikuu East Line (Furukawa to Narukoonnsenn), in Apr, 2014 to Jun, 2014 was 112,762 JPY/sq.m. The market value represents an increase of 76,399 JPY (+210.1%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 31.6 years old (a -21.5% decrease compared to the 40.3 years old of last year.). The average size of the real estate was 53.3 sq.m (a -3.0% decrease compared to the 55.0 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic decrease in transactions involving older buildings over 40 years old.

1 stations have experienced increased prices; 0 stations have experienced decreased prices. The overall trend was the same as last year. Narukoonnsenn station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Narukoonnsenn station, where prices have increased +70.5% compared to last year; a sq.m unit now costs 62,000 JPY/sq.m.

The top 1 stations has seen prices increase +70.5% (+25,637 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +70.5% (+25,637 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average age of the building (representing 40.3 years old in 2013 and 31.6 years old in 2014; -21.5%)
  • An decrease in average distance from the station (representing 30.0 min in 2013 and 25.0 min in 2014; -16.7%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 100.0% of total transactions in 2013 and 66.7% of total transactions in 2014)

Breakdown of each segment

The table below shows Apartment dealt in JR Rikuu East Line, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

Top

Apartment stations market overview

The average price of a sq.m Apartment of Narukoonnsenn, the highest market value along this railway was 62,000 JPY/sq.m. The market value represents an increase of 25,637 JPY (+70.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Narukoonnsenn, the lowest market value along this railway was 62,000 JPY/sq.m. The market value represents an increase of 25,637 JPY (+70.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Rikuu East Line (Stations Apartment market overview)
JR Rikuu East LineThis year(2014)1 year ago2 years ago
Furukawa214,285 JPY (13.3Y/70.0sq.m)-109,804 JPY (12.8Y/80.0sq.m)
Narukoonnsenn62,000 JPY (40.8Y/45.0sq.m)36,363 JPY (40.3Y/55.0sq.m)48,888 JPY (38.3Y/45.0sq.m)
*Average unit prices per sq.m of Apartment at each train station were calculated using the Utinokati database of actual market sales prices (based on surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism of Japan). Units: JPY (Japanese Yen); parenthesis contain average age in years of building / equivalent measurement of area of real estate.
Top

Noteworthy stations

Narukoonnsenn62,000 JPY/sq.m (+71% compared with the previous year)

The average price of a sq.m Apartment of Narukoonnsenn was 62,000 JPY/sq.m. The market value represents an increase of 25,637 JPY (+70.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 40.8 years old (a +1.2% increase compared to the 40.3 years old of last year.). The average size of the real estate was 45.0 sq.m (a -18.2% decrease compared to the 55.0 sq.m of last year.).

Cause of price increases

  • A slight decrease in transactions involving older buildings over 40 years old (representing 100.0% of total transactions in 2013 and 100.0% of total transactions in 2014)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (http://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)