Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Ichinoseki to Ninohe), in Jan, 2016 to Dec, 2016 was 43,844 JPY/sq.m. The market value represents an increase of 4,562 JPY (+11.6%) compared to 1 year ago and a transition to a bull market. 204 properties exchanged hands ( The market value represents an increase of 34 (+20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 412.4 sq.m (a +12.0% increase compared to the 368.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a some increase in transactions involving very large size more than 200 sq.m.

3 stations have experienced increased prices; 2 stations have experienced decreased prices. The overall trend was the same as last year. 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 +20.6% compared to last year; a sq.m unit now costs 31,085 JPY/sq.m.

The top 1 stations has seen prices increase +20.6% (+5,306 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -47.9% (-8,943 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 2.9% of total transactions in 2015 and 1.0% of total transactions in 2016)

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 60,536 JPY/sq.m. The market value represents an increase of 7,402 JPY (+13.9%) compared to 1 year ago and a transition to a bull market. 101 properties exchanged hands ( The market value represents an increase of 14 (+16.1%) compared to 1 year ago and a transition to a bull market.).

The average price of a sq.m Land of Iwate-Numakunai, the lowest market value along this railway was 9,727 JPY/sq.m. The market value represents a decrease of 8,943 JPY (-47.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2016)1 year ago2 years ago
Ichinoseki29,160 JPY (0.0Y/453.8sq.m)26,888 JPY (0.0Y/481.3sq.m)25,537 JPY (0.0Y/507.0sq.m)
Mizusawa Esashi---
Kitakami31,085 JPY (0.0Y/388.2sq.m)25,778 JPY (0.0Y/306.7sq.m)29,141 JPY (0.0Y/297.8sq.m)
Shin-Hanamaki13,186 JPY (0.0Y/910.0sq.m)--
Morioka60,536 JPY (0.0Y/374.7sq.m)53,134 JPY (0.0Y/312.4sq.m)48,791 JPY (0.0Y/342.2sq.m)
Iwate-Numakunai9,727 JPY (0.0Y/284.0sq.m)18,670 JPY (0.0Y/331.0sq.m)11,922 JPY (0.0Y/524.4sq.m)
Ninohe16,059 JPY (0.0Y/656.2sq.m)16,385 JPY (0.0Y/550.5sq.m)18,913 JPY (0.0Y/520.7sq.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

Kitakami31,085 JPY/sq.m (+21% compared with the previous year)

The average price of a sq.m Land of Kitakami was 31,085 JPY/sq.m. The market value represents an increase of 5,306 JPY (+20.6%) compared to 1 year ago and a transition to a dramatic market. 38 properties exchanged hands ( The market value represents an increase of 12 (+46.2%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 388.2 sq.m (a +26.5% increase compared to the 306.7 sq.m of last year.).

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 11.5% of total transactions in 2015 and 2.6% of total transactions in 2016)

Iwate-Numakunai9,727 JPY/sq.m (-48% compared with the previous year)

The average price of a sq.m Land of Iwate-Numakunai was 9,727 JPY/sq.m. The market value represents a decrease of 8,943 JPY (-47.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 284.0 sq.m (a -14.2% decrease compared to the 331.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 20.2 min in 2015 and 100.2 min in 2016; +396.0%)

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)