Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jul, 2013 to Sep, 2013 was 134,329 JPY/sq.m. The market value represents a decrease of 9,544 JPY (-6.6%) compared to 1 year ago and a transition to a bear market. 30 properties exchanged hands ( The market value represents a decrease of 4 (-11.8%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 389.8 sq.m (a +16.1% increase compared to the 335.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

4 stations have experienced increased prices; 5 stations have experienced decreased prices. Market value of most stations decreased. Ounoyamakouenn, Kennchoumae station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kennchoumae station, where prices have increased +75.4% compared to last year; a sq.m unit now costs 304,286 JPY/sq.m.

The top 2 stations has seen prices increase +51.2% (+79,749 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -55.2% (-37,137 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 8.8% of total transactions in 2012 and 16.7% of total transactions in 2013)

Causes of price decreases

  • An increase in average distance from the station (representing 12.2 min in 2012 and 14.2 min in 2013; +15.8%)

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:

Top

Land stations market overview

The average price of a sq.m Land of Kennchoumae, the highest market value along this railway was 304,286 JPY/sq.m. The market value represents an increase of 130,801 JPY (+75.4%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Gibo, the lowest market value along this railway was 8,333 JPY/sq.m. The market value represents a decrease of 40,054 JPY (-82.8%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2013)1 year ago2 years ago
Akamine114,256 JPY (0.0Y/511.7sq.m)133,333 JPY (0.0Y/390.0sq.m)67,857 JPY (0.0Y/1400.0sq.m)
Oroku-142,857 JPY (0.0Y/70.0sq.m)118,918 JPY (0.0Y/185.0sq.m)
Ounoyamakouenn135,294 JPY (0.0Y/1700.0sq.m)106,598 JPY (0.0Y/705.0sq.m)70,209 JPY (0.0Y/196.7sq.m)
Tsubogawa128,841 JPY (0.0Y/152.5sq.m)126,794 JPY (0.0Y/177.5sq.m)94,736 JPY (0.0Y/95.0sq.m)
Asahibashi169,696 JPY (0.0Y/165.0sq.m)171,738 JPY (0.0Y/230.0sq.m)175,757 JPY (0.0Y/165.0sq.m)
Kennchoumae304,286 JPY (0.0Y/595.0sq.m)173,484 JPY (0.0Y/796.7sq.m)152,380 JPY (0.0Y/210.0sq.m)
Miebashi160,804 JPY (0.0Y/133.3sq.m)211,538 JPY (0.0Y/520.0sq.m)211,764 JPY (0.0Y/170.0sq.m)
Makishi-177,272 JPY (0.0Y/295.0sq.m)124,137 JPY (0.0Y/145.0sq.m)
Asato143,720 JPY (0.0Y/145.7sq.m)140,783 JPY (0.0Y/316.0sq.m)115,032 JPY (0.0Y/173.3sq.m)
Omoromachi-163,073 JPY (0.0Y/221.0sq.m)177,489 JPY (0.0Y/307.5sq.m)
Furujima-140,408 JPY (0.0Y/373.8sq.m)139,115 JPY (0.0Y/245.0sq.m)
Shiritsubyouinnmae--133,016 JPY (0.0Y/130.0sq.m)
Gibo8,333 JPY (0.0Y/600.0sq.m)48,387 JPY (0.0Y/310.0sq.m)83,432 JPY (0.0Y/187.5sq.m)
Shuri89,579 JPY (0.0Y/559.4sq.m)123,799 JPY (0.0Y/148.0sq.m)126,510 JPY (0.0Y/235.0sq.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

Kennchoumae304,286 JPY/sq.m (+75% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 304,286 JPY/sq.m. The market value represents an increase of 130,801 JPY (+75.4%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 595.0 sq.m (a -25.3% decrease compared to the 796.7 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 11.3 min in 2012 and 8.0 min in 2013; -29.4%)

Ounoyamakouenn135,294 JPY/sq.m (+27% 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 28,696 JPY (+26.9%) 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 1700.0 sq.m (a +141.1% increase compared to the 705.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.0 min in 2012 and 30.0 min in 2013; +172.7%)

Gibo8,333 JPY/sq.m (-83% compared with the previous year)

The average price of a sq.m Land of Gibo was 8,333 JPY/sq.m. The market value represents a decrease of 40,054 JPY (-82.8%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 600.0 sq.m (a +93.5% increase compared to the 310.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 6.0 min in 2012 and 11.0 min in 2013; +83.3%)

Shuri89,579 JPY/sq.m (-28% compared with the previous year)

The average price of a sq.m Land of Shuri was 89,579 JPY/sq.m. The market value represents a decrease of 34,220 JPY (-27.6%) compared to 1 year ago and a transition to a dramatic market. 8 properties exchanged hands ( The market value represents an increase of 3 (+60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 559.4 sq.m (a +278.0% increase compared to the 148.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.8 min in 2012 and 17.0 min in 2013; +44.1%)

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)