Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Apr, 2013 to Jun, 2013 was 145,967 JPY/sq.m. The market value represents an increase of 39,070 JPY (+36.5%) compared to 1 year ago and a transition to a dramatic market. 27 properties exchanged hands ( The market value represents a decrease of 4 (-12.9%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 394.1 sq.m (a +28.9% increase compared to the 305.6 sq.m of last year.).

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

7 stations have experienced increased prices; 3 stations have experienced decreased prices. The overall trend was the same as last year. Akamine, Tsubogawa, Miebashi, Makishi, Omoromachi, Shuri station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Ounoyamakouenn station, where prices have increased +239.8% compared to last year; a sq.m unit now costs 191,111 JPY/sq.m.

The top 2 stations has seen prices increase +163.9% (+99,444 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -13.4% (-19,741 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 3.2% of total transactions in 2012 and 7.4% 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 Omoromachi, the highest market value along this railway was 193,832 JPY/sq.m. The market value represents an increase of 48,864 JPY (+33.7%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands (It was the same as last year.).

The average price of a sq.m Land of Akamine, the lowest market value along this railway was 89,466 JPY/sq.m. The market value represents an increase of 23,900 JPY (+36.5%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) 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
Akamine89,466 JPY (0.0Y/660.0sq.m)65,566 JPY (0.0Y/263.0sq.m)71,428 JPY (0.0Y/230.0sq.m)
Oroku152,173 JPY (0.0Y/230.0sq.m)--
Ounoyamakouenn191,111 JPY (0.0Y/45.0sq.m)56,247 JPY (0.0Y/152.5sq.m)102,500 JPY (0.0Y/200.0sq.m)
Tsubogawa173,203 JPY (0.0Y/533.3sq.m)94,345 JPY (0.0Y/793.3sq.m)157,696 JPY (0.0Y/300.0sq.m)
Asahibashi--204,545 JPY (0.0Y/220.0sq.m)
Kennchoumae-111,764 JPY (0.0Y/85.0sq.m)90,000 JPY (0.0Y/100.0sq.m)
Miebashi150,000 JPY (0.0Y/100.0sq.m)121,794 JPY (0.0Y/190.0sq.m)363,158 JPY (0.0Y/1050.0sq.m)
Makishi179,725 JPY (0.0Y/701.7sq.m)147,857 JPY (0.0Y/900.0sq.m)122,051 JPY (0.0Y/77.5sq.m)
Asato117,798 JPY (0.0Y/182.5sq.m)128,095 JPY (0.0Y/147.5sq.m)138,874 JPY (0.0Y/381.7sq.m)
Omoromachi193,832 JPY (0.0Y/193.8sq.m)144,968 JPY (0.0Y/185.0sq.m)202,777 JPY (0.0Y/360.0sq.m)
Furujima148,148 JPY (0.0Y/135.0sq.m)177,210 JPY (0.0Y/357.5sq.m)-
Shiritsubyouinnmae-78,261 JPY (0.0Y/143.3sq.m)-
Gibo89,580 JPY (0.0Y/590.0sq.m)100,000 JPY (0.0Y/140.0sq.m)84,090 JPY (0.0Y/440.0sq.m)
Shuri136,715 JPY (0.0Y/218.8sq.m)72,692 JPY (0.0Y/297.5sq.m)65,074 JPY (0.0Y/460.0sq.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.
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Noteworthy stations

Ounoyamakouenn191,111 JPY/sq.m (+240% compared with the previous year)

The average price of a sq.m Land of Ounoyamakouenn was 191,111 JPY/sq.m. The market value represents an increase of 134,864 JPY (+239.8%) compared to 1 year ago and a transition to a dramatic 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 45.0 sq.m (a -70.5% decrease compared to the 152.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 15.0 min in 2012 and 19.0 min in 2013; +26.7%)

Shuri136,715 JPY/sq.m (+88% compared with the previous year)

The average price of a sq.m Land of Shuri was 136,715 JPY/sq.m. The market value represents an increase of 64,024 JPY (+88.1%) 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 218.8 sq.m (a -26.5% decrease compared to the 297.5 sq.m of last year.).

Furujima148,148 JPY/sq.m (-16% compared with the previous year)

The average price of a sq.m Land of Furujima was 148,148 JPY/sq.m. The market value represents a decrease of 29,062 JPY (-16.4%) compared to 1 year ago and a transition to a weak 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 135.0 sq.m (a -62.2% decrease compared to the 357.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 23.0 min in 2012 and 6.0 min in 2013; -73.9%)

Gibo89,580 JPY/sq.m (-10% compared with the previous year)

The average price of a sq.m Land of Gibo was 89,580 JPY/sq.m. The market value represents a decrease of 10,420 JPY (-10.4%) compared to 1 year ago and a transition to a weak market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 590.0 sq.m (a +321.4% increase compared to the 140.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 23.0 min in 2012 and 13.0 min in 2013; -43.5%)

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)