Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Ichinoseki to Ninohe), in Apr, 2014 to Jun, 2014 was 34,950 JPY/sq.m. The market value represents a decrease of 6,735 JPY (-16.2%) compared to 1 year ago and a transition to a weak market. 29 properties exchanged hands ( The market value represents a decrease of 46 (-61.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 303.1 sq.m (a -20.0% decrease compared to the 378.9 sq.m of last year.).

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

2 stations have experienced increased prices; 2 stations have experienced decreased prices. Market value of most stations decreased. Kitakami station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kitakami station, where prices have increased +33.7% compared to last year; a sq.m unit now costs 31,084 JPY/sq.m.

The top 1 stations has seen prices increase +33.7% (+7,839 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -22.0% (-6,803 JPY/sq.m).



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 42,557 JPY/sq.m. The market value represents a decrease of 10,929 JPY (-20.4%) compared to 1 year ago and a transition to a dramatic market. 13 properties exchanged hands ( The market value represents a decrease of 27 (-67.5%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Ninohe, the lowest market value along this railway was 19,476 JPY/sq.m. The market value represents an increase of 1,976 JPY (+11.3%) compared to 1 year ago and a transition to a bull 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.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2014)1 year ago2 years ago
Ichinoseki24,182 JPY (0.0Y/250.0sq.m)30,986 JPY (0.0Y/471.3sq.m)33,354 JPY (0.0Y/445.0sq.m)
Mizusawa Esashi---
Kitakami31,084 JPY (0.0Y/367.5sq.m)23,245 JPY (0.0Y/450.0sq.m)27,446 JPY (0.0Y/414.5sq.m)
Shin-Hanamaki---
Morioka42,557 JPY (0.0Y/257.7sq.m)53,486 JPY (0.0Y/308.6sq.m)50,070 JPY (0.0Y/342.0sq.m)
Iwate-Numakunai-13,896 JPY (0.0Y/383.3sq.m)13,790 JPY (0.0Y/202.5sq.m)
Ninohe19,476 JPY (0.0Y/265.0sq.m)17,500 JPY (0.0Y/480.0sq.m)19,985 JPY (0.0Y/483.3sq.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

Kitakami31,084 JPY/sq.m (+34% compared with the previous year)

The average price of a sq.m Land of Kitakami was 31,084 JPY/sq.m. The market value represents an increase of 7,839 JPY (+33.7%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents an increase of 4 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 367.5 sq.m (a -18.3% decrease compared to the 450.0 sq.m of last year.).

Ichinoseki24,182 JPY/sq.m (-22% compared with the previous year)

The average price of a sq.m Land of Ichinoseki was 24,182 JPY/sq.m. The market value represents a decrease of 6,803 JPY (-22.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 21 (-91.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 250.0 sq.m (a -47.0% decrease compared to the 471.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 33.3 min in 2013 and 17.0 min in 2014; -49.0%)

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)