Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2016 to Dec, 2016 was 176,105 JPY/sq.m. The market value represents an increase of 26,884 JPY (+18.0%) compared to 1 year ago and a transition to a bull market. 56 properties exchanged hands ( The market value represents an increase of 12 (+27.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 330.6 sq.m (a +26.3% increase compared to the 261.8 sq.m of last year.).

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

10 stations have experienced increased prices; 4 stations have experienced decreased prices. The overall trend was toward increased prices. Oroku, Kennchoumae, Miebashi, Makishi, Asato, Omoromachi, Furujima, Gibo station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Gibo station, where prices have increased +63.7% compared to last year; a sq.m unit now costs 167,219 JPY/sq.m.

The top 2 stations has seen prices increase +63.1% (+76,293 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -31.7% (-53,985 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 11.4% of total transactions in 2015 and 14.3% of total transactions in 2016)

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 Asahibashi, the highest market value along this railway was 297,902 JPY/sq.m. The market value represents a decrease of 42,098 JPY (-12.4%) compared to 1 year ago and a transition to a weak market. 4 properties exchanged hands ( The market value represents an increase of 3 (+300.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Ounoyamakouenn, the lowest market value along this railway was 63,365 JPY/sq.m. The market value represents a decrease of 65,872 JPY (-51.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2016)1 year ago2 years ago
Akamine142,839 JPY (0.0Y/437.1sq.m)152,380 JPY (0.0Y/210.0sq.m)105,944 JPY (0.0Y/466.7sq.m)
Oroku223,661 JPY (0.0Y/388.3sq.m)164,444 JPY (0.0Y/450.0sq.m)122,415 JPY (0.0Y/235.0sq.m)
Ounoyamakouenn63,365 JPY (0.0Y/255.0sq.m)129,237 JPY (0.0Y/303.0sq.m)108,456 JPY (0.0Y/283.8sq.m)
Tsubogawa200,000 JPY (0.0Y/1000.0sq.m)188,571 JPY (0.0Y/35.0sq.m)118,323 JPY (0.0Y/573.8sq.m)
Asahibashi297,902 JPY (0.0Y/443.8sq.m)340,000 JPY (0.0Y/250.0sq.m)175,000 JPY (0.0Y/160.0sq.m)
Kennchoumae175,614 JPY (0.0Y/320.0sq.m)110,187 JPY (0.0Y/116.7sq.m)293,325 JPY (0.0Y/616.7sq.m)
Miebashi227,530 JPY (0.0Y/179.2sq.m)140,000 JPY (0.0Y/100.0sq.m)207,326 JPY (0.0Y/250.0sq.m)
Makishi255,882 JPY (0.0Y/340.0sq.m)181,395 JPY (0.0Y/430.0sq.m)122,550 JPY (0.0Y/263.8sq.m)
Asato129,661 JPY (0.0Y/323.1sq.m)100,451 JPY (0.0Y/520.0sq.m)96,536 JPY (0.0Y/154.0sq.m)
Omoromachi276,719 JPY (0.0Y/421.7sq.m)199,885 JPY (0.0Y/167.9sq.m)205,794 JPY (0.0Y/215.0sq.m)
Furujima134,490 JPY (0.0Y/240.8sq.m)100,636 JPY (0.0Y/392.0sq.m)151,785 JPY (0.0Y/560.0sq.m)
Shiritsubyouinnmae187,878 JPY (0.0Y/165.0sq.m)170,370 JPY (0.0Y/270.0sq.m)110,714 JPY (0.0Y/280.0sq.m)
Gibo167,219 JPY (0.0Y/275.0sq.m)102,164 JPY (0.0Y/171.7sq.m)57,341 JPY (0.0Y/890.0sq.m)
Shuri126,831 JPY (0.0Y/288.0sq.m)128,347 JPY (0.0Y/268.0sq.m)111,600 JPY (0.0Y/271.5sq.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

Gibo167,219 JPY/sq.m (+64% compared with the previous year)

The average price of a sq.m Land of Gibo was 167,219 JPY/sq.m. The market value represents an increase of 65,055 JPY (+63.7%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 1 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 275.0 sq.m (a +60.2% increase compared to the 171.7 sq.m of last year.).

Miebashi227,530 JPY/sq.m (+63% compared with the previous year)

The average price of a sq.m Land of Miebashi was 227,530 JPY/sq.m. The market value represents an increase of 87,530 JPY (+62.5%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 5 (+500.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 179.2 sq.m (a +79.2% increase compared to the 100.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 12.0 min in 2015 and 8.7 min in 2016; -27.8%)

Ounoyamakouenn63,365 JPY/sq.m (-51% compared with the previous year)

The average price of a sq.m Land of Ounoyamakouenn was 63,365 JPY/sq.m. The market value represents a decrease of 65,872 JPY (-51.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 255.0 sq.m (a -15.8% decrease compared to the 303.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 7.4 min in 2015 and 5.5 min in 2016; -25.7%)

Asahibashi297,902 JPY/sq.m (-12% compared with the previous year)

The average price of a sq.m Land of Asahibashi was 297,902 JPY/sq.m. The market value represents a decrease of 42,098 JPY (-12.4%) compared to 1 year ago and a transition to a weak market. 4 properties exchanged hands ( The market value represents an increase of 3 (+300.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 443.8 sq.m (a +77.5% increase compared to the 250.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 8.0 min in 2015 and 7.0 min in 2016; -12.5%)

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)