JR Rikuu East Line Apartment market overview

The average price of a sq.m Apartment of JR Rikuu East Line (Furukawa to Narukoonnsenn), in Jan, 2015 to Mar, 2015 was 24,444 JPY/sq.m. The market value represents a decrease of 93,504 JPY (-79.3%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 41.0 years old (a +78.3% increase compared to the 23.0 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.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

0 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value decreased in all stations.

The top 0 stations has seen prices increase +0.0% (+0 JPY/sq.m). On the other hand, The bottom 0 stations has seen prices decrease +0.0% (+0 JPY/sq.m).


Causes of price decreases

  • A dramatic increase in average age of the building (representing 23.0 years old in 2014 and 41.0 years old in 2015; +78.3%)
  • A dramatic increase in average distance from the station (representing 20.0 min in 2014 and 30.0 min in 2015; +50.0%)

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:

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Apartment stations market overview

JR Rikuu East Line (Stations Apartment market overview)
JR Rikuu East LineThis year(2015)1 year ago2 years ago
Furukawa-66,666 JPY (23.0Y/45.0sq.m)63,636 JPY (26.0Y/55.0sq.m)
Narukoonnsenn6,666 JPY (41.0Y/45.0sq.m)-38,472 JPY (40.0Y/42.5sq.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.
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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)