Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2013 to Mar, 2013 was 117,663 JPY/sq.m. The market value represents a decrease of 21,089 JPY (-15.2%) compared to 1 year ago and a transition to a weak market. 48 properties exchanged hands ( The market value represents an increase of 2 (+4.3%) compared to 1 year ago and a transition to a some market.).

The average size of the real estate was 211.2 sq.m (a -10.5% decrease compared to the 236.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving size for a general family households less than 100 sq.m.

3 stations have experienced increased prices; 6 stations have experienced decreased prices. Market value of most stations decreased. Ounoyamakouenn station has seen a price increase of over 5% compared to last year. The most dramatic price increase was at Gibo station, where prices have increased +105.0% compared to last year; a sq.m unit now costs 138,844 JPY/sq.m.

The top 2 stations has seen prices increase +56.3% (+40,343 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -40.8% (-51,517 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 6.5% of total transactions in 2012 and 12.5% of total transactions in 2013)

Breakdown of each segment

The table below shows Land 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:

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Land stations market overview

The average price of a sq.m Land of Furujima, the highest market value along this railway was 180,000 JPY/sq.m. The market value represents an increase of 4,389 JPY (+2.5%) compared to 1 year ago and a transition to a slight 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 price of a sq.m Land of Tsubogawa, the lowest market value along this railway was 63,333 JPY/sq.m. The market value represents a decrease of 70,000 JPY (-52.5%) 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.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2013)1 year ago2 years ago
Akamine83,333 JPY (0.0Y/120.0sq.m)-97,364 JPY (0.0Y/280.0sq.m)
Oroku-109,920 JPY (0.0Y/148.8sq.m)94,118 JPY (0.0Y/107.5sq.m)
Ounoyamakouenn135,294 JPY (0.0Y/680.0sq.m)125,714 JPY (0.0Y/35.0sq.m)147,138 JPY (0.0Y/158.3sq.m)
Tsubogawa63,333 JPY (0.0Y/100.0sq.m)133,333 JPY (0.0Y/1500.0sq.m)126,098 JPY (0.0Y/135.0sq.m)
Asahibashi-227,272 JPY (0.0Y/110.0sq.m)-
Kennchoumae-149,615 JPY (0.0Y/132.5sq.m)160,751 JPY (0.0Y/206.9sq.m)
Miebashi153,031 JPY (0.0Y/336.7sq.m)153,768 JPY (0.0Y/590.0sq.m)123,809 JPY (0.0Y/105.0sq.m)
Makishi123,394 JPY (0.0Y/90.0sq.m)152,835 JPY (0.0Y/190.0sq.m)167,302 JPY (0.0Y/105.0sq.m)
Asato80,713 JPY (0.0Y/162.0sq.m)113,747 JPY (0.0Y/100.8sq.m)96,892 JPY (0.0Y/171.7sq.m)
Omoromachi160,493 JPY (0.0Y/810.0sq.m)160,635 JPY (0.0Y/322.0sq.m)292,307 JPY (0.0Y/260.0sq.m)
Furujima180,000 JPY (0.0Y/250.0sq.m)175,611 JPY (0.0Y/150.0sq.m)-
Shiritsubyouinnmae-195,721 JPY (0.0Y/195.0sq.m)-
Gibo138,844 JPY (0.0Y/172.5sq.m)67,739 JPY (0.0Y/331.7sq.m)89,788 JPY (0.0Y/197.5sq.m)
Shuri115,845 JPY (0.0Y/198.2sq.m)130,694 JPY (0.0Y/176.7sq.m)93,991 JPY (0.0Y/352.9sq.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.
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Noteworthy stations

Gibo138,844 JPY/sq.m (+105% compared with the previous year)

The average price of a sq.m Land of Gibo was 138,844 JPY/sq.m. The market value represents an increase of 71,105 JPY (+105.0%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 3 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 172.5 sq.m (a -48.0% decrease compared to the 331.7 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 12.3 min in 2012 and 14.3 min in 2013; +16.2%)

Ounoyamakouenn135,294 JPY/sq.m (+8% compared with the previous year)

The average price of a sq.m Land of Ounoyamakouenn was 135,294 JPY/sq.m. The market value represents an increase of 9,580 JPY (+7.6%) compared to 1 year ago and a transition to a strong market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 680.0 sq.m (a +1842.9% increase compared to the 35.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 7.0 min in 2012 and 10.0 min in 2013; +42.9%)

Tsubogawa63,333 JPY/sq.m (-53% compared with the previous year)

The average price of a sq.m Land of Tsubogawa was 63,333 JPY/sq.m. The market value represents a decrease of 70,000 JPY (-52.5%) 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 100.0 sq.m (a -93.3% decrease compared to the 1500.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 16.0 min in 2012 and 19.5 min in 2013; +21.9%)

Asato80,713 JPY/sq.m (-29% compared with the previous year)

The average price of a sq.m Land of Asato was 80,713 JPY/sq.m. The market value represents a decrease of 33,034 JPY (-29.0%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 1 (-16.7%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 162.0 sq.m (a +60.7% increase compared to the 100.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 17.3 min in 2012 and 8.6 min in 2013; -50.4%)

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)