Okinawa Monorail Apartment market overview

The average price of a sq.m Apartment of Okinawa Monorail (Akamine to Shuri), in Apr, 2013 to Jun, 2013 was 249,421 JPY/sq.m. The market value represents an increase of 16,488 JPY (+7.1%) compared to 1 year ago and a transition to a strong market. 20 properties exchanged hands ( The market value represents a decrease of 3 (-13.0%) compared to 1 year ago and a transition to a weak market.).

The average age of the real estate was 22.5 years old (a +12.1% increase compared to the 20.1 years old of last year.). The average size of the real estate was 61.0 sq.m (a -18.2% decrease compared to the 74.6 sq.m of last year.).

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

2 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Kennchoumae station has seen a price increase of over 5% compared to last year. The most dramatic price increase was at Miebashi station, where prices have increased +107.5% compared to last year; a sq.m unit now costs 304,395 JPY/sq.m.

The top 1 stations has seen prices increase +107.5% (+157,732 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -36.1% (-131,532 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 4.3% of total transactions in 2012 and 20.0% of total transactions in 2013)

Causes of price decreases

  • An increase in average age of the building (representing 20.1 years old in 2012 and 22.5 years old in 2013; +12.1%)
  • An increase in average distance from the station (representing 11.3 min in 2012 and 13.4 min in 2013; +19.0%)
  • A some increase in transactions involving relatively old buildings under 40 years old (representing 59.1% of total transactions in 2012 and 62.5% of total transactions in 2013)
  • A dramatic decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 13.0% of total transactions in 2012 and 5.0% of total transactions in 2013)

Breakdown of each segment

The table below shows Apartment dealt in Okinawa Monorail, 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 Miebashi, the highest market value along this railway was 304,395 JPY/sq.m. The market value represents an increase of 157,732 JPY (+107.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Akamine, the lowest market value along this railway was 105,000 JPY/sq.m. The market value represents a decrease of 20,454 JPY (-16.3%) compared to 1 year ago and a transition to a weak market. 1 properties exchanged hands (It was the same as last year.).

Okinawa Monorail (Stations Apartment market overview)
Okinawa MonorailThis year(2013)1 year ago2 years ago
Akamine105,000 JPY (39.3Y/40.0sq.m)125,454 JPY (23.4Y/55.0sq.m)242,857 JPY (20.3Y/70.0sq.m)
Oroku-216,666 JPY (18.3Y/60.0sq.m)-
Ounoyamakouenn-242,756 JPY (16.3Y/73.3sq.m)-
Tsubogawa287,500 JPY (7.3Y/80.0sq.m)--
Asahibashi233,173 JPY (18.3Y/72.5sq.m)364,705 JPY (6.3Y/85.0sq.m)358,544 JPY (6.3Y/79.0sq.m)
Kennchoumae195,000 JPY (24.8Y/60.0sq.m)182,757 JPY (25.0Y/86.0sq.m)-
Miebashi304,395 JPY (12.8Y/67.5sq.m)146,663 JPY (28.6Y/80.0sq.m)242,857 JPY (12.3Y/70.0sq.m)
Makishi-340,581 JPY (12.9Y/83.0sq.m)533,333 JPY (1.3Y/90.0sq.m)
Asato193,431 JPY (27.3Y/53.8sq.m)215,833 JPY (25.6Y/51.7sq.m)216,742 JPY (14.9Y/63.0sq.m)
Omoromachi400,000 JPY (12.3Y/70.0sq.m)-400,000 JPY (6.3Y/80.0sq.m)
Furujima533,333 JPY (0.0Y/30.0sq.m)-169,230 JPY (24.3Y/65.0sq.m)
Shiritsubyouinnmae---
Gibo250,000 JPY (25.3Y/100.0sq.m)-151,905 JPY (18.3Y/56.7sq.m)
Shuri-218,181 JPY (17.3Y/55.0sq.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

Miebashi304,395 JPY/sq.m (+108% compared with the previous year)

The average price of a sq.m Apartment of Miebashi was 304,395 JPY/sq.m. The market value represents an increase of 157,732 JPY (+107.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 12.8 years old (a -55.4% decrease compared to the 28.6 years old of last year.). The average size of the real estate was 67.5 sq.m (a -15.6% decrease compared to the 80.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 28.6 years old in 2012 and 12.8 years old in 2013; -55.4%)
  • A dramatic decrease in average distance from the station (representing 15.7 min in 2012 and 7.5 min in 2013; -52.1%)

Asahibashi233,173 JPY/sq.m (-36% compared with the previous year)

The average price of a sq.m Apartment of Asahibashi was 233,173 JPY/sq.m. The market value represents a decrease of 131,532 JPY (-36.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 18.3 years old (a +191.9% increase compared to the 6.3 years old of last year.). The average size of the real estate was 72.5 sq.m (a -14.7% decrease compared to the 85.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 6.3 years old in 2012 and 18.3 years old in 2013; +191.9%)

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)