Otaru-Shi Apartment average value

Price 144,157 JPY/sq.m
- Age 25.5 years old
- Dist. from Sta. 12.6 min walk
- Property area 73.2 sq.m

The average price of Hokkaido Otaru-Shi Apartment, in 2020 was 138,622 JPY/sq.m. The market value represents a decrease of 29,517 JPY (-17.6%) compared to 1 year ago and a transition to a weak market.

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

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 6.9% of total transactions in 2019 and 16.7% of total transactions in 2020)

Causes of price decreases

  • An increase in average age of the building (representing 24.3 years old in 2019 and 27.7 years old in 2020; +14.1%)
  • An increase in average distance from the station (representing 10.7 min in 2019 and 11.9 min in 2020; +11.5%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 69.0% of total transactions in 2019 and 87.5% of total transactions in 2020)
Data regarding the market value and its changes of Apartment in Otaru-Shi were calculated using data on the sales of 484 properties provided by the MLIT Japan.

Otaru-Shi Apartment market value list

AreaAverage Trading PriceAverage Unit Price#
住ノ江9,500,000 JPY131,250 JPY/sq.m2 件
住吉町17,444,444 JPY222,309 JPY/sq.m18 件
入船10,100,000 JPY145,416 JPY/sq.m2 件
天神6,925,000 JPY108,414 JPY/sq.m20 件
奥沢3,066,667 JPY43,652 JPY/sq.m9 件
富岡11,678,261 JPY135,135 JPY/sq.m23 件
山田町8,691,667 JPY131,022 JPY/sq.m12 件
張碓町5,580,000 JPY102,462 JPY/sq.m5 件
新光9,557,692 JPY117,843 JPY/sq.m26 件
最上5,540,000 JPY75,722 JPY/sq.m5 件
朝里5,003,448 JPY96,393 JPY/sq.m29 件
朝里川温泉4,828,000 JPY100,822 JPY/sq.m25 件
東雲町7,700,000 JPY128,577 JPY/sq.m8 件
松ケ枝7,800,000 JPY88,000 JPY/sq.m2 件
5,869,697 JPY72,136 JPY/sq.m33 件
潮見台4,283,333 JPY59,258 JPY/sq.m6 件
真栄9,000,000 JPY131,018 JPY/sq.m22 件
稲穂20,524,719 JPY253,866 JPY/sq.m89 件
築港23,555,556 JPY267,860 JPY/sq.m27 件
9,371,429 JPY104,811 JPY/sq.m14 件
色内20,326,087 JPY231,293 JPY/sq.m23 件
花園12,212,069 JPY158,325 JPY/sq.m58 件
若松9,618,750 JPY130,956 JPY/sq.m16 件
若竹町4,971,429 JPY73,459 JPY/sq.m7 件
赤岩5,000,000 JPY66,614 JPY/sq.m8 件
銭函4,148,889 JPY71,361 JPY/sq.m18 件
長橋5,700,000 JPY63,468 JPY/sq.m2 件

Otaru-Shi Apartment value Age transition

Market values (unit price: sq.m, ㎡) in terms of Age, is as follow.

The orange line means market values (unit price: sq.m) for Apartment in terms of Age. The orange line changes on the basis of distance from the train station and area of the property (* For example , if the distance from the station is far, the lower the unit price.).

The dots means trading data. When you mouseover or touch the dot, details of the trading data is displayed. You can color (classify) the dots on the basis of the property area, distance from the stations, or the property price, etc.

(* You can scroll and zoom with pinch in the mobile environment.)
(* When you double-click, the value of Age is updated.)
AgeTrading PriceProportion
Price at New579,865 JPY/sq.m100 %
Residual Value (10 Years)346,302 JPY/sq.m60 %
Residual Value (20 Years)189,620 JPY/sq.m33 %
Residual Value (20 Years)109,819 JPY/sq.m19 %
Color:
Unit:   Touch:
Apartment value Age transition. Market values in terms of Age.

Apartment value Age transition

Property Details:
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- Trading date: {{infoObj.trade_date|date:'MMMM, yyyy'}}

When you change the slider, the unit price will change.
Age of a building Property area Total floor area Distance from the station




Calculate Otaru-Shi Apartment market value

We can calculate market values for Apartment based on their age, area, and distance from a train station.

Age
years old
Area
sq.m
Total floor space
sq.m
Distance from the station
min walk

Market values for Otaru-Shi Apartment that meet the above conditions were calculated in the following manner.

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({{unit_price|number:0}} JPY/sq.m)

The assumed transaction price, not including agency commissions, taxes, etc.

Trading Data

Past Apartment sales data, with similarly entered ages, area, and distances from station are as follows.

1. Hokkaido Otaru-Shi 朝里 (Otaru-Shi Asari 11.0 min walk)
28.8 years old , Area: 75.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2016-12-01 00:00:00

Trading price:   3,400,000 JPY,    Unit price:   45,333 JPY/sq.m

2. Hokkaido Otaru-Shi 花園 (Otaru-Shi Otaru 11.0 min walk)
28.8 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: SRC
- Trading date: 2018-12-01 00:00:00

Trading price:   7,300,000 JPY,    Unit price:   104,286 JPY/sq.m

3. Hokkaido Otaru-Shi 若松 (Otaru-Shi Minamiotaru 10.0 min walk)
25.5 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2010-09-01 00:00:00

Trading price:   2,000,000 JPY,    Unit price:   28,571 JPY/sq.m

4. Hokkaido Otaru-Shi 真栄 (Otaru-Shi Minamiotaru 11.0 min walk)
24.8 years old , Area: 80.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2014-12-01 00:00:00

Trading price:   10,000,000 JPY,    Unit price:   125,000 JPY/sq.m

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- Trading date: {{item.trade_date|date:'MMMM, yyyy'}}

Trading price:   {{item.price|number:0}} JPY,    Unit price:   {{item.unit_price|number:0}} JPY/sq.m

Apartment market value trends

Market value trends for Apartment are as follows.

Data:
Unit:   Touch:
Apartment market value trends Market value trends for Apartment.

Apartment market value trends


Breakdown of each segment

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

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 6.9% of total transactions in 2019 and 16.7% of total transactions in 2020)

Causes of price decreases

  • An increase in average age of the building (representing 24.3 years old in 2019 and 27.7 years old in 2020; +14.1%)
  • An increase in average distance from the station (representing 10.7 min in 2019 and 11.9 min in 2020; +11.5%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 69.0% of total transactions in 2019 and 87.5% of total transactions in 2020)
The table below shows Apartment dealt in Hokkaido Otaru-Shi, 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:

Area close to the price in Otaru-Shi

The closest areas in terms of Apartment price ranges to this area are ones like the following that are along a railway line and have a station.

Area / Station Median
Price
JPY
Unit price
JPY/sq.m
Age
Years old
Distance
min walk
Area
Higashi-Ku 北47条東 (21) [Area]13,000,000147,368 JPY/sq.m22.3 yrs11 min80 sq.m
Otaru-Shi 富岡 (23) [Area]12,000,000137,500 JPY/sq.m20.5 yrs11 min80 sq.m
Otaru-Shi 山田町 (12) [Area]8,750,000136,250 JPY/sq.m22.0 yrs12 min72 sq.m
Otaru-Shi 真栄 (22) [Area]9,300,000134,134 JPY/sq.m25.5 yrs13 min65 sq.m
JR Sōya Main Line Asahikawayojou (11) [Stations]9,600,000144,444 JPY/sq.m20.5 yrs15 min70 sq.m
JR Sasshō Line Hachikenn (121) [Stations]9,700,000138,750 JPY/sq.m33.3 yrs10 min70 sq.m
JR Chitose Line Shinnsapporo (36) [Stations]10,500,000137,212 JPY/sq.m20.3 yrs8 min75 sq.m
JR Hakodate Line Otaru (206) [Stations]12,000,000153,968 JPY/sq.m22.3 yrs9 min75 sq.m
Hakodate City Tramway Main Line Hakodateekimae (1) [Stations]11,000,000157,143 JPY/sq.m22.8 yrs8 min70 sq.m