JR Tohoku Main Line Apartment market overview

The average price of a sq.m Apartment of JR Tohoku Main Line (Iwanuma to Iwakiri), in Jul, 2013 to Sep, 2013 was 258,632 JPY/sq.m. The market value represents an increase of 55,865 JPY (+27.6%) compared to 1 year ago and a transition to a dramatic market. 44 properties exchanged hands ( The market value represents an increase of 15 (+51.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 20.4 years old (a -7.0% decrease compared to the 21.9 years old of last year.). The average size of the real estate was 56.7 sq.m (a -5.8% decrease compared to the 60.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively new buildings under 20 years old, as well as a dramatic increase in transactions involving small size for a single person households less than 30 sq.m.

3 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Nagamachi, Sendai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Nagamachi station, where prices have increased +53.4% compared to last year; a sq.m unit now costs 280,833 JPY/sq.m.

The top 1 stations has seen prices increase +53.4% (+97,797 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -2.3% (-6,442 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 64.3% of total transactions in 2012 and 46.5% of total transactions in 2013)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 7.1% of total transactions in 2012 and 11.6% of total transactions in 2013)

Causes of price decreases

  • An increase in average distance from the station (representing 15.5 min in 2012 and 17.8 min in 2013; +14.9%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 7.1% of total transactions in 2012 and 4.7% of total transactions in 2013)

Breakdown of each segment

The table below shows Apartment dealt in JR Tohoku Main 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 Nagamachi, the highest market value along this railway was 280,833 JPY/sq.m. The market value represents an increase of 97,797 JPY (+53.4%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Minamisenndai, the lowest market value along this railway was 228,147 JPY/sq.m. The market value represents an increase of 17,781 JPY (+8.5%) compared to 1 year ago and a transition to a strong market. 5 properties exchanged hands ( The market value represents an increase of 2 (+66.7%) compared to 1 year ago and a transition to a dramatic market.).

JR Tohoku Main Line (Stations Apartment market overview)
JR Tohoku Main LineThis year(2013)1 year ago2 years ago
Iwanuma---
Minamisenndai228,147 JPY (17.3Y/66.0sq.m)210,366 JPY (10.5Y/70.0sq.m)170,834 JPY (18.3Y/67.2sq.m)
Taishidou272,884 JPY (9.8Y/68.8sq.m)279,326 JPY (14.0Y/72.5sq.m)173,974 JPY (16.5Y/62.5sq.m)
Nagamachi280,833 JPY (19.5Y/53.8sq.m)183,036 JPY (26.3Y/60.0sq.m)123,246 JPY (26.1Y/62.5sq.m)
Sendai258,845 JPY (22.0Y/54.0sq.m)205,057 JPY (23.9Y/55.3sq.m)160,372 JPY (21.7Y/58.9sq.m)
Higashisenndai-116,428 JPY (22.0Y/70.0sq.m)169,230 JPY (14.5Y/65.0sq.m)
Iwakiri-261,538 JPY (5.5Y/65.0sq.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

Nagamachi280,833 JPY/sq.m (+53% compared with the previous year)

The average price of a sq.m Apartment of Nagamachi was 280,833 JPY/sq.m. The market value represents an increase of 97,797 JPY (+53.4%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 19.5 years old (a -25.9% decrease compared to the 26.3 years old of last year.). The average size of the real estate was 53.8 sq.m (a -10.4% decrease compared to the 60.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 26.3 years old in 2012 and 19.5 years old in 2013; -25.9%)
  • A dramatic decrease in average distance from the station (representing 11.0 min in 2012 and 4.3 min in 2013; -60.6%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 80.0% of total transactions in 2012 and 50.0% of total transactions in 2013)

Taishidou272,884 JPY/sq.m (-2% compared with the previous year)

The average price of a sq.m Apartment of Taishidou was 272,884 JPY/sq.m. The market value represents a decrease of 6,442 JPY (-2.3%) compared to 1 year ago and a transition to a slight market. 4 properties exchanged hands ( The market value represents an increase of 2 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 9.8 years old (a -29.8% decrease compared to the 14.0 years old of last year.). The average size of the real estate was 68.8 sq.m (a -5.2% decrease compared to the 72.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 14.0 years old in 2012 and 9.8 years old in 2013; -29.8%)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 50.0% of total transactions in 2012 and 66.7% of total transactions in 2013)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 5.5 min in 2012 and 10.2 min in 2013; +86.4%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 50.0% of total transactions in 2012 and 25.0% of total transactions in 2013)

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)