Tohoku Shinkansen Apartment market overview

The average price of a sq.m Apartment of Tohoku Shinkansen (Sendai to Furukawa), in Jan, 2015 to Dec, 2015 was 291,153 JPY/sq.m. The market value represents an increase of 26,134 JPY (+9.9%) compared to 1 year ago and a transition to a strong market. 68 properties exchanged hands ( The market value represents a decrease of 11 (-13.9%) compared to 1 year ago and a transition to a weak market.).

The average age of the real estate was 23.6 years old (a +8.3% increase compared to the 21.8 years old of last year.). The average size of the real estate was 58.2 sq.m (a -12.0% decrease compared to the 66.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively old buildings under 40 years old, as well as a dramatic increase in transactions involving small size for a single person households less than 30 sq.m.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. Furukawa station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Furukawa station, where prices have increased +41.5% compared to last year; a sq.m unit now costs 177,331 JPY/sq.m.

The top 1 stations has seen prices increase +41.5% (+52,017 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +6.4% (+17,804 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 2.6% of total transactions in 2014 and 4.6% of total transactions in 2015)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 6.6% of total transactions in 2014 and 4.6% of total transactions in 2015)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 46.1% of total transactions in 2014 and 58.5% of total transactions in 2015)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 10.1% of total transactions in 2014 and 7.4% of total transactions in 2015)

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 296,406 JPY/sq.m. The market value represents an increase of 17,804 JPY (+6.4%) compared to 1 year ago and a transition to a strong market. 65 properties exchanged hands ( The market value represents a decrease of 7 (-9.7%) compared to 1 year ago and a transition to a bear market.).

The average price of a sq.m Apartment of Furukawa, the lowest market value along this railway was 177,331 JPY/sq.m. The market value represents an increase of 52,017 JPY (+41.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 4 (-57.1%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Apartment market overview)
Tohoku ShinkansenThis year(2015)1 year ago2 years ago
Sendai296,406 JPY (23.8Y/57.8sq.m)278,602 JPY (22.3Y/66.6sq.m)246,289 JPY (20.4Y/60.6sq.m)
Furukawa177,331 JPY (18.4Y/66.7sq.m)125,313 JPY (16.3Y/62.1sq.m)116,727 JPY (18.6Y/64.0sq.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

Furukawa177,331 JPY/sq.m (+42% compared with the previous year)

The average price of a sq.m Apartment of Furukawa was 177,331 JPY/sq.m. The market value represents an increase of 52,017 JPY (+41.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 4 (-57.1%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 18.4 years old (a +13.3% increase compared to the 16.3 years old of last year.). The average size of the real estate was 66.7 sq.m (a +7.3% increase compared to the 62.1 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 20.6 min in 2014 and 14.3 min in 2015; -30.3%)

Causes of price decreases

  • An increase in average age of the building (representing 16.3 years old in 2014 and 18.4 years old in 2015; +13.3%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 28.6% of total transactions in 2014 and 33.3% of total transactions in 2015)

Sendai296,406 JPY/sq.m (+6% compared with the previous year)

The average price of a sq.m Apartment of Sendai was 296,406 JPY/sq.m. The market value represents an increase of 17,804 JPY (+6.4%) compared to 1 year ago and a transition to a strong market. 65 properties exchanged hands ( The market value represents a decrease of 7 (-9.7%) compared to 1 year ago and a transition to a bear market.).

The average age of the real estate was 23.8 years old (a +6.7% increase compared to the 22.3 years old of last year.). The average size of the real estate was 57.8 sq.m (a -13.1% decrease compared to the 66.6 sq.m of last year.).

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 2.9% of total transactions in 2014 and 4.8% of total transactions in 2015)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 7.2% of total transactions in 2014 and 4.8% of total transactions in 2015)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 47.8% of total transactions in 2014 and 59.7% of total transactions in 2015)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 11.1% of total transactions in 2014 and 7.7% of total transactions in 2015)

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)