Tohoku Shinkansen Apartment market overview

The average price of a sq.m Apartment of Tohoku Shinkansen (Sendai to Furukawa), in Jan, 2017 to Mar, 2017 was 177,692 JPY/sq.m. The market value represents a decrease of 32,726 JPY (-15.6%) compared to 1 year ago and a transition to a weak market. 2 properties exchanged hands ( The market value represents a decrease of 11 (-84.6%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 31.5 years old (a +34.5% increase compared to the 23.4 years old of last year.). The average size of the real estate was 57.5 sq.m (a -1.6% decrease compared to the 58.5 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations less than ten minutes by foot from the station.

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 +53.3% compared to last year; a sq.m unit now costs 95,384 JPY/sq.m.

The top 1 stations has seen prices increase +53.3% (+33,162 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +16.7% (+37,232 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 54.5 min in 2016 and 14.5 min in 2017; -73.4%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2016 and 50.0% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 23.4 years old in 2016 and 31.5 years old in 2017; +34.5%)

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 260,000 JPY/sq.m. The market value represents an increase of 37,232 JPY (+16.7%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 11 (-91.7%) 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 95,384 JPY/sq.m. The market value represents an increase of 33,162 JPY (+53.3%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Apartment market overview)
Tohoku ShinkansenThis year(2017)1 year ago2 years ago
Sendai260,000 JPY (43.0Y/50.0sq.m)222,768 JPY (23.3Y/59.6sq.m)290,974 JPY (21.6Y/56.3sq.m)
Furukawa95,384 JPY (20.0Y/65.0sq.m)62,222 JPY (25.0Y/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

Furukawa95,384 JPY/sq.m (+53% compared with the previous year)

The average price of a sq.m Apartment of Furukawa was 95,384 JPY/sq.m. The market value represents an increase of 33,162 JPY (+53.3%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 20.0 years old (a -20.0% decrease compared to the 25.0 years old of last year.). The average size of the real estate was 65.0 sq.m (a +44.4% increase compared to the 45.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 25.0 years old in 2016 and 20.0 years old in 2017; -20.0%)
  • A dramatic decrease in average distance from the station (representing 30.0 min in 2016 and 20.0 min in 2017; -33.3%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2016 and 100.0% of total transactions in 2017)

Sendai260,000 JPY/sq.m (+17% compared with the previous year)

The average price of a sq.m Apartment of Sendai was 260,000 JPY/sq.m. The market value represents an increase of 37,232 JPY (+16.7%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 11 (-91.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 43.0 years old (a +84.8% increase compared to the 23.3 years old of last year.). The average size of the real estate was 50.0 sq.m (a -16.1% decrease compared to the 59.6 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 56.6 min in 2016 and 9.0 min in 2017; -84.1%)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 23.3 years old in 2016 and 43.0 years old in 2017; +84.8%)

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)