Tohoku Shinkansen Apartment market overview

The average price of a sq.m Apartment of Tohoku Shinkansen (Sendai to Furukawa), in Jan, 2014 to Dec, 2014 was 265,019 JPY/sq.m. The market value represents an increase of 24,728 JPY (+10.3%) compared to 1 year ago and a transition to a bull market. 79 properties exchanged hands ( The market value represents a decrease of 29 (-26.9%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.8 years old (a +7.2% increase compared to the 20.3 years old of last year.). The average size of the real estate was 66.2 sq.m (a +9.0% increase compared to the 60.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving new buildings under 10 years old, as well as a dramatic increase in transactions involving older buildings over 40 years old.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. Sendai station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Sendai station, where prices have increased +13.1% compared to last year; a sq.m unit now costs 278,602 JPY/sq.m.

The top 1 stations has seen prices increase +13.1% (+32,313 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +7.4% (+8,586 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 25.0 min in 2013 and 21.6 min in 2014; -13.5%)
  • A some decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2013 and 46.1% of total transactions in 2014)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 8.3% of total transactions in 2013 and 10.1% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 1.9% of total transactions in 2013 and 6.6% of total transactions in 2014)
  • A dramatic decrease in transactions involving recently constructed buildings under 6 years old (representing 5.6% of total transactions in 2013 and 2.6% of total transactions in 2014)

Breakdown of each segment

The table below shows Apartment dealt in Tohoku Shinkansen, 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 Sendai, the highest market value along this railway was 278,602 JPY/sq.m. The market value represents an increase of 32,313 JPY (+13.1%) compared to 1 year ago and a transition to a bull market. 72 properties exchanged hands ( The market value represents a decrease of 31 (-30.1%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Furukawa, the lowest market value along this railway was 125,313 JPY/sq.m. The market value represents an increase of 8,586 JPY (+7.4%) compared to 1 year ago and a transition to a strong market. 7 properties exchanged hands ( The market value represents an increase of 2 (+40.0%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Apartment market overview)
Tohoku ShinkansenThis year(2014)1 year ago2 years ago
Sendai278,602 JPY (22.3Y/66.6sq.m)246,289 JPY (20.4Y/60.6sq.m)214,187 JPY (21.1Y/60.0sq.m)
Furukawa125,313 JPY (16.3Y/62.1sq.m)116,727 JPY (18.6Y/64.0sq.m)91,141 JPY (17.0Y/67.5sq.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.
Top

Noteworthy stations

Sendai278,602 JPY/sq.m (+13% compared with the previous year)

The average price of a sq.m Apartment of Sendai was 278,602 JPY/sq.m. The market value represents an increase of 32,313 JPY (+13.1%) compared to 1 year ago and a transition to a bull market. 72 properties exchanged hands ( The market value represents a decrease of 31 (-30.1%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 22.3 years old (a +9.5% increase compared to the 20.4 years old of last year.). The average size of the real estate was 66.6 sq.m (a +9.9% increase compared to the 60.6 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 25.2 min in 2013 and 21.7 min in 2014; -14.0%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 8.7% of total transactions in 2013 and 11.1% of total transactions in 2014)
  • A some decrease in transactions involving relatively old buildings under 40 years old (representing 50.5% of total transactions in 2013 and 47.8% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 1.9% of total transactions in 2013 and 7.2% of total transactions in 2014)
  • A dramatic decrease in transactions involving recently constructed buildings under 6 years old (representing 5.8% of total transactions in 2013 and 2.9% of total transactions in 2014)

Furukawa125,313 JPY/sq.m (+7% compared with the previous year)

The average price of a sq.m Apartment of Furukawa was 125,313 JPY/sq.m. The market value represents an increase of 8,586 JPY (+7.4%) compared to 1 year ago and a transition to a strong market. 7 properties exchanged hands ( The market value represents an increase of 2 (+40.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 16.3 years old (a -12.6% decrease compared to the 18.6 years old of last year.). The average size of the real estate was 62.1 sq.m (a -2.9% decrease compared to the 64.0 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 18.6 years old in 2013 and 16.3 years old in 2014; -12.6%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 40.0% of total transactions in 2013 and 28.6% 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)