JR Ofunato BRT line Land market overview

The average price of a sq.m Land of JR Ofunato BRT line (Kanmonkaikyo Mekari to Takekoma), in Jan, 2016 to Mar, 2016 was 18,309 JPY/sq.m. The market value represents an increase of 3,148 JPY (+20.8%) compared to 1 year ago and a transition to a dramatic market. 21 properties exchanged hands ( The market value represents a decrease of 8 (-27.6%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 433.8 sq.m (a +25.6% increase compared to the 345.5 sq.m of last year.).

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

5 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Rikuzenntakata, Otomo, Kanmonkaikyo Mekari, Sakari station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Rikuzenntakata station, where prices have increased +75.6% compared to last year; a sq.m unit now costs 20,026 JPY/sq.m.

The top 2 stations has seen prices increase +61.3% (+6,164 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -57.5% (-13,831 JPY/sq.m).


Causes of price decreases

  • A dramatic increase in average distance from the station (representing 17.7 min in 2015 and 24.1 min in 2016; +36.2%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 10.3% of total transactions in 2015 and 4.8% of total transactions in 2016)

Breakdown of each segment

The table below shows Land dealt in JR Ofunato BRT 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

Land stations market overview

The average price of a sq.m Land of Oofunato, the highest market value along this railway was 28,844 JPY/sq.m. The market value represents a decrease of 11,156 JPY (-27.9%) compared to 1 year ago and a transition to a dramatic 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 price of a sq.m Land of Takekoma, the lowest market value along this railway was 5,250 JPY/sq.m. The market value represents a decrease of 3,462 JPY (-39.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Ofunato BRT line (Stations Land market overview)
JR Ofunato BRT lineThis year(2016)1 year ago2 years ago
Kanmonkaikyo Mekari-4,349 JPY (0.0Y/250.0sq.m)-
Kanmonkaikyo Mekari---
Rikuzenntakata20,026 JPY (0.0Y/315.0sq.m)11,407 JPY (0.0Y/260.0sq.m)-
Kanmonkaikyo Mekari---
Kanmonkaikyo Mekari-24,006 JPY (0.0Y/247.5sq.m)-
Wakinosawa7,942 JPY (0.0Y/275.0sq.m)32,142 JPY (0.0Y/280.0sq.m)-
Otomo11,587 JPY (0.0Y/355.0sq.m)7,878 JPY (0.0Y/330.0sq.m)-
Kanmonkaikyo Mekari18,181 JPY (0.0Y/330.0sq.m)13,787 JPY (0.0Y/330.0sq.m)-
Hosoura13,333 JPY (0.0Y/330.0sq.m)12,303 JPY (0.0Y/330.0sq.m)15,757 JPY (0.0Y/330.0sq.m)
Shimofunato---
Oofunato28,844 JPY (0.0Y/422.5sq.m)40,000 JPY (0.0Y/112.5sq.m)27,321 JPY (0.0Y/383.3sq.m)
Sakari22,504 JPY (0.0Y/582.5sq.m)16,147 JPY (0.0Y/610.0sq.m)25,558 JPY (0.0Y/754.0sq.m)
Takekoma5,250 JPY (0.0Y/1200.0sq.m)8,712 JPY (0.0Y/330.0sq.m)-
*Average unit prices per sq.m of Land 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

Rikuzenntakata20,026 JPY/sq.m (+76% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 20,026 JPY/sq.m. The market value represents an increase of 8,620 JPY (+75.6%) compared to 1 year ago and a transition to a dramatic 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 size of the real estate was 315.0 sq.m (a +21.2% increase compared to the 260.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.0 min in 2015 and 12.5 min in 2016; -30.6%)

Otomo11,587 JPY/sq.m (+47% compared with the previous year)

The average price of a sq.m Land of Otomo was 11,587 JPY/sq.m. The market value represents an increase of 3,709 JPY (+47.1%) compared to 1 year ago and a transition to a dramatic 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 size of the real estate was 355.0 sq.m (a +7.6% increase compared to the 330.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 45.0 min in 2015 and 37.5 min in 2016; -16.7%)

Wakinosawa7,942 JPY/sq.m (-75% compared with the previous year)

The average price of a sq.m Land of Wakinosawa was 7,942 JPY/sq.m. The market value represents a decrease of 24,200 JPY (-75.3%) 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 size of the real estate was 275.0 sq.m (a -1.8% decrease compared to the 280.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 4.0 min in 2015 and 24.5 min in 2016; +512.5%)

Takekoma5,250 JPY/sq.m (-40% compared with the previous year)

The average price of a sq.m Land of Takekoma was 5,250 JPY/sq.m. The market value represents a decrease of 3,462 JPY (-39.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 1200.0 sq.m (a +263.6% increase compared to the 330.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 14.2 min in 2015 and 30.0 min in 2016; +110.5%)

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)