Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Ichinoseki to Ninohe), in Jul, 2013 to Sep, 2013 was 40,743 JPY/sq.m. The market value represents an increase of 4,508 JPY (+12.4%) compared to 1 year ago and a transition to a bull market. 101 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 320.8 sq.m (a -16.2% decrease compared to the 382.9 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; 3 stations have experienced decreased prices. Market value of most stations decreased. Kitakami, Morioka station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Morioka station, where prices have increased +15.8% compared to last year; a sq.m unit now costs 53,631 JPY/sq.m.

The top 1 stations has seen prices increase +15.8% (+7,336 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -64.8% (-15,728 JPY/sq.m).


Causes of price decreases

  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.0% of total transactions in 2012 and 1.0% of total transactions in 2013)

Breakdown of each segment

The table below shows Land 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

Land stations market overview

The average price of a sq.m Land of Morioka, the highest market value along this railway was 53,631 JPY/sq.m. The market value represents an increase of 7,336 JPY (+15.8%) compared to 1 year ago and a transition to a bull market. 54 properties exchanged hands ( The market value represents an increase of 2 (+3.8%) compared to 1 year ago and a transition to a some market.).

The average price of a sq.m Land of Iwate-Numakunai, the lowest market value along this railway was 8,558 JPY/sq.m. The market value represents a decrease of 15,728 JPY (-64.8%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2013)1 year ago2 years ago
Ichinoseki23,378 JPY (0.0Y/381.5sq.m)23,666 JPY (0.0Y/441.6sq.m)36,196 JPY (0.0Y/226.4sq.m)
Mizusawa Esashi---
Kitakami32,105 JPY (0.0Y/333.5sq.m)29,086 JPY (0.0Y/398.6sq.m)29,958 JPY (0.0Y/310.0sq.m)
Shin-Hanamaki-17,500 JPY (0.0Y/400.0sq.m)-
Morioka53,631 JPY (0.0Y/266.3sq.m)46,294 JPY (0.0Y/346.8sq.m)65,472 JPY (0.0Y/244.8sq.m)
Iwate-Numakunai8,558 JPY (0.0Y/92.5sq.m)24,285 JPY (0.0Y/280.0sq.m)-
Ninohe11,110 JPY (0.0Y/1125.0sq.m)16,912 JPY (0.0Y/503.0sq.m)28,557 JPY (0.0Y/200.0sq.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

Morioka53,631 JPY/sq.m (+16% compared with the previous year)

The average price of a sq.m Land of Morioka was 53,631 JPY/sq.m. The market value represents an increase of 7,336 JPY (+15.8%) compared to 1 year ago and a transition to a bull market. 54 properties exchanged hands ( The market value represents an increase of 2 (+3.8%) compared to 1 year ago and a transition to a some market.).

The average size of the real estate was 266.3 sq.m (a -23.2% decrease compared to the 346.8 sq.m of last year.).

Iwate-Numakunai8,558 JPY/sq.m (-65% compared with the previous year)

The average price of a sq.m Land of Iwate-Numakunai was 8,558 JPY/sq.m. The market value represents a decrease of 15,728 JPY (-64.8%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 92.5 sq.m (a -67.0% 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 13.5 min in 2012 and 21.0 min in 2013; +55.6%)

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)