Naka-Ku Apartment average value

Price 244,083 JPY/sq.m
- Age 19.3 years old
- Dist. from Sta. 25.4 min walk
- Property area 72.6 sq.m

The average price of Okayama-Shi Naka-Ku Apartment, in 2020 was 239,753 JPY/sq.m. The market value represents a decrease of 27,917 JPY (-10.4%) 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 relatively old buildings under 40 years old.

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 4.0% of total transactions in 2019 and 5.9% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 16.0 years old in 2019 and 21.8 years old in 2020; +35.8%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 20.8% of total transactions in 2019 and 41.2% of total transactions in 2020)
Data regarding the market value and its changes of Apartment in Naka-Ku were calculated using data on the sales of 349 properties provided by the MLIT Japan.

Naka-Ku Apartment market value list

AreaAverage Trading PriceAverage Unit Price#
8,418,182 JPY144,884 JPY/sq.m11 件
中納言町3,766,667 JPY58,718 JPY/sq.m4 件
住吉町26,500,000 JPY317,259 JPY/sq.m4 件
兼基13,536,842 JPY182,445 JPY/sq.m19 件
円山25,000,000 JPY302,206 JPY/sq.m2 件
原尾島20,783,784 JPY285,133 JPY/sq.m37 件
古京町17,766,667 JPY236,509 JPY/sq.m12 件
国富21,666,667 JPY292,712 JPY/sq.m15 件
小橋町17,666,667 JPY262,180 JPY/sq.m6 件
平井18,333,333 JPY239,384 JPY/sq.m3 件
徳吉町16,630,000 JPY186,124 JPY/sq.m10 件
東山11,680,000 JPY143,891 JPY/sq.m5 件
東川原14,359,259 JPY193,955 JPY/sq.m27 件
森下町17,333,333 JPY241,746 JPY/sq.m6 件
12,880,645 JPY185,068 JPY/sq.m31 件
沢田11,114,286 JPY164,160 JPY/sq.m7 件
10,453,226 JPY141,721 JPY/sq.m63 件
神下4,025,000 JPY71,149 JPY/sq.m12 件
藤原13,423,529 JPY189,385 JPY/sq.m17 件
藤原西町11,476,923 JPY163,994 JPY/sq.m13 件
西川原11,230,952 JPY197,840 JPY/sq.m21 件
門田屋敷22,333,333 JPY326,042 JPY/sq.m27 件
10,866,667 JPY159,268 JPY/sq.m3 件
高屋18,857,143 JPY280,063 JPY/sq.m7 件

Naka-Ku 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 New414,897 JPY/sq.m100 %
Residual Value (10 Years)309,099 JPY/sq.m75 %
Residual Value (20 Years)223,623 JPY/sq.m54 %
Residual Value (20 Years)158,470 JPY/sq.m38 %
Color:
Unit:   Touch:
Apartment value Age transition. Market values in terms of Age.

Apartment value Age transition

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




Calculate Naka-Ku 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 Naka-Ku 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. Okayama Okayama-Shi Naka-Ku 原尾島 (Okayama-Shi Okayama 30.0 min walk)
18.3 years old , Area: 65.0 sq.m , Total floor area: sq.m , Layout: 2LDK , Structure: RC
- Trading date: 2017-06-01 00:00:00

Trading price:   12,000,000 JPY,    Unit price:   184,615 JPY/sq.m

2. Okayama Okayama-Shi Naka-Ku 原尾島 (Okayama-Shi Okayama 30.0 min walk)
18.3 years old , Area: 75.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2019-06-01 00:00:00

Trading price:   17,000,000 JPY,    Unit price:   226,667 JPY/sq.m

3. Okayama Okayama-Shi Naka-Ku 国富 (Okayama-Shi Okayama 30.0 min walk)
18.0 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2016-03-01 00:00:00

Trading price:   17,000,000 JPY,    Unit price:   242,857 JPY/sq.m

4. Okayama Okayama-Shi Naka-Ku 浜 (Okayama-Shi Okayama 30.0 min walk)
18.8 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2011-12-01 00:00:00

Trading price:   8,000,000 JPY,    Unit price:   114,286 JPY/sq.m

5. Okayama Okayama-Shi Naka-Ku 国富 (Okayama-Shi Okayama 30.0 min walk)
17.8 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: SRC
- Trading date: 2020-12-01 00:00:00

Trading price:   24,000,000 JPY,    Unit price:   342,857 JPY/sq.m

6. Okayama Okayama-Shi Naka-Ku 国富 (Okayama-Shi Okayama 30.0 min walk)
18.8 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2016-12-01 00:00:00

Trading price:   16,000,000 JPY,    Unit price:   228,571 JPY/sq.m

7. Okayama Okayama-Shi Naka-Ku 国富 (Okayama-Shi Okayama 30.0 min walk)
17.0 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: SRC
- Trading date: 2020-03-01 00:00:00

Trading price:   24,000,000 JPY,    Unit price:   342,857 JPY/sq.m

8. Okayama Okayama-Shi Naka-Ku 東山 (Okayama-Shi Okayama 30.0 min walk)
19.5 years old , Area: 70.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2009-09-01 00:00:00

Trading price:   9,400,000 JPY,    Unit price:   134,286 JPY/sq.m

9. Okayama Okayama-Shi Naka-Ku 森下町 (Okayama-Shi Okayama 30.0 min walk)
17.0 years old , Area: 75.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: RC
- Trading date: 2015-03-01 00:00:00

Trading price:   18,000,000 JPY,    Unit price:   240,000 JPY/sq.m

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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 relatively old buildings under 40 years old.

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 4.0% of total transactions in 2019 and 5.9% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 16.0 years old in 2019 and 21.8 years old in 2020; +35.8%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 20.8% of total transactions in 2019 and 41.2% of total transactions in 2020)
The table below shows Apartment dealt in Okayama-Shi Naka-Ku, 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 Naka-Ku

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
Kita-Ku 兵団 (4) [Area]16,500,000243,333 JPY/sq.m22.5 yrs20 min67 sq.m
Okayama-Shi (2,110) [Area]17,000,000242,857 JPY/sq.m21.0 yrs18 min70 sq.m
Naka-Ku 森下町 (6) [Area]18,500,000246,666 JPY/sq.m15.4 yrs30 min70 sq.m
Kita-Ku 表町 (24) [Area]19,500,000251,308 JPY/sq.m16.4 yrs20 min75 sq.m