Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jul, 2015 to Sep, 2015 was 176,366 JPY/sq.m. The market value represents an increase of 50,455 JPY (+40.1%) compared to 1 year ago and a transition to a dramatic market. 15 properties exchanged hands ( The market value represents a decrease of 7 (-31.8%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 314.0 sq.m (a -10.5% decrease compared to the 350.9 sq.m of last year.).

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

6 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Akamine, Ounoyamakouenn, Omoromachi, Shuri station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Oroku station, where prices have increased +204.2% compared to last year; a sq.m unit now costs 164,444 JPY/sq.m.

The top 2 stations has seen prices increase +139.6% (+135,399 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -23.8% (-40,971 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 17.0 min in 2014 and 12.1 min in 2015; -28.8%)

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 Omoromachi, the highest market value along this railway was 374,194 JPY/sq.m. The market value represents an increase of 160,408 JPY (+75.0%) 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 Kennchoumae, the lowest market value along this railway was 75,625 JPY/sq.m. The market value represents a decrease of 95,803 JPY (-55.9%) 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(2015)1 year ago2 years ago
Akamine152,380 JPY (0.0Y/210.0sq.m)111,428 JPY (0.0Y/700.0sq.m)114,256 JPY (0.0Y/511.7sq.m)
Oroku164,444 JPY (0.0Y/450.0sq.m)54,054 JPY (0.0Y/185.0sq.m)-
Ounoyamakouenn121,095 JPY (0.0Y/435.0sq.m)90,441 JPY (0.0Y/298.3sq.m)135,294 JPY (0.0Y/1700.0sq.m)
Tsubogawa-155,502 JPY (0.0Y/792.5sq.m)128,841 JPY (0.0Y/152.5sq.m)
Asahibashi340,000 JPY (0.0Y/250.0sq.m)-169,696 JPY (0.0Y/165.0sq.m)
Kennchoumae75,625 JPY (0.0Y/102.5sq.m)171,428 JPY (0.0Y/105.0sq.m)304,286 JPY (0.0Y/595.0sq.m)
Miebashi--160,804 JPY (0.0Y/133.3sq.m)
Makishi181,395 JPY (0.0Y/430.0sq.m)167,534 JPY (0.0Y/430.0sq.m)-
Asato-109,743 JPY (0.0Y/55.0sq.m)143,720 JPY (0.0Y/145.7sq.m)
Omoromachi374,194 JPY (0.0Y/380.0sq.m)213,786 JPY (0.0Y/250.0sq.m)-
Furujima-151,785 JPY (0.0Y/560.0sq.m)-
Shiritsubyouinnmae170,370 JPY (0.0Y/270.0sq.m)--
Gibo-57,341 JPY (0.0Y/335.0sq.m)8,333 JPY (0.0Y/600.0sq.m)
Shuri123,768 JPY (0.0Y/316.2sq.m)97,104 JPY (0.0Y/325.0sq.m)89,579 JPY (0.0Y/559.4sq.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

Oroku164,444 JPY/sq.m (+204% compared with the previous year)

The average price of a sq.m Land of Oroku was 164,444 JPY/sq.m. The market value represents an increase of 110,390 JPY (+204.2%) 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 450.0 sq.m (a +143.2% increase compared to the 185.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 6.0 min in 2014 and 18.0 min in 2015; +200.0%)

Omoromachi374,194 JPY/sq.m (+75% compared with the previous year)

The average price of a sq.m Land of Omoromachi was 374,194 JPY/sq.m. The market value represents an increase of 160,408 JPY (+75.0%) 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 380.0 sq.m (a +52.0% increase compared to the 250.0 sq.m of last year.).

Kennchoumae75,625 JPY/sq.m (-56% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 75,625 JPY/sq.m. The market value represents a decrease of 95,803 JPY (-55.9%) 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 102.5 sq.m (a -2.4% decrease compared to the 105.0 sq.m of last year.).

Makishi181,395 JPY/sq.m (+8% compared with the previous year)

The average price of a sq.m Land of Makishi was 181,395 JPY/sq.m. The market value represents an increase of 13,862 JPY (+8.3%) 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 430.0 sq.m (a +0.0% decrease compared to the 430.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 14.5 min in 2014 and 9.0 min in 2015; -37.9%)

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)