Hofu-Shi Apartment average value

Price 207,530 JPY/sq.m
- Age 15.6 years old
- Dist. from Sta. 7.2 min walk
- Property area 85.8 sq.m

The average price of Yamaguchi Hofu-Shi Apartment, in 2019 was 195,468 JPY/sq.m. The market value represents a decrease of 17,122 JPY (-8.1%) compared to 1 year ago and a transition to a bear market.

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.

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 10.0% of total transactions in 2018 and 28.6% of total transactions in 2019)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 13.5 years old in 2018 and 17.9 years old in 2019; +32.3%)
  • A dramatic increase in average distance from the station (representing 5.4 min in 2018 and 8.3 min in 2019; +53.4%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 20.0% of total transactions in 2018 and 42.9% of total transactions in 2019)
Data regarding the market value and its changes of Apartment in Hofu-Shi were calculated using data on the sales of 86 properties provided by the MLIT Japan.

Hofu-Shi Apartment market value list

AreaAverage Trading PriceAverage Unit Price#
八王子15,669,565 JPY214,227 JPY/sq.m23 件
上天神町13,133,333 JPY180,476 JPY/sq.m6 件
栄町16,250,000 JPY175,441 JPY/sq.m4 件
緑町16,714,286 JPY235,022 JPY/sq.m7 件
美和町9,025,000 JPY138,846 JPY/sq.m4 件
車塚町10,516,667 JPY135,031 JPY/sq.m12 件
鋳物師町11,750,000 JPY149,676 JPY/sq.m4 件
駅南町20,562,500 JPY280,253 JPY/sq.m16 件
高倉6,010,000 JPY99,880 JPY/sq.m10 件

Hofu-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 New439,969 JPY/sq.m100 %
Residual Value (10 Years)265,071 JPY/sq.m60 %
Residual Value (20 Years)159,025 JPY/sq.m36 %
Residual Value (20 Years)121,833 JPY/sq.m28 %
Color:
Unit:   Touch:
Apartment value Age transition. Market values in terms of Age.

Apartment value Age transition

Property Details:
{{infoObj.place}} {{infoObj.stations[0]}} {{infoObj.station_distance}} min walk)
Trading Price:   {{infoObj.price|number:0}} JPY,    Unit Price:   {{infoObj.unit_price|number:0}} JPY/sq.m
{{infoObj.days_elapsed|days_year}} years old , Area: {{infoObj.dimension}} sq.m , Total floor area: {{infoObj.dimension_all}} sq.m , Layout: {{infoObj.floor_plan}} , Structure: {{infoObj.structure}}
- 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 Hofu-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 Hofu-Shi Apartment that meet the above conditions were calculated in the following manner.

{{currentObj|applyRegCalculatePrecise:averageObj:coefObj:true:true:unitType}}
({{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. Yamaguchi Hofu-Shi 八王子 (Hofu-Shi Houfu 6.0 min walk)
13.0 years old , Area: 65.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: SRC
- Trading date: 2009-03-01 00:00:00

Trading price:   5,500,000 JPY,    Unit price:   84,615 JPY/sq.m

2. Yamaguchi Hofu-Shi 八王子 (Hofu-Shi Houfu 6.0 min walk)
14.0 years old , Area: 65.0 sq.m , Total floor area: sq.m , Layout: 3LDK , Structure: SRC
- Trading date: 2010-03-01 00:00:00

Trading price:   10,000,000 JPY,    Unit price:   153,846 JPY/sq.m

3. Yamaguchi Hofu-Shi 駅南町 (Hofu-Shi Houfu 6.0 min walk)
11.3 years old , Area: 60.0 sq.m , Total floor area: sq.m , Layout: 2LDK , Structure: SRC
- Trading date: 2013-06-01 00:00:00

Trading price:   10,000,000 JPY,    Unit price:   166,667 JPY/sq.m

{{$index+1}}. {{item.place}} ({{item.stations[0]}} {{item.station_distance}} min walk)
{{item.days_elapsed|days_year}} years old , Area: {{item.dimension}} sq.m , Total floor area: {{item.dimension_all}} sq.m , Layout: {{item.floor_plan}} , Structure: {{item.structure}}
- 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 far from the station less than twenty minutes by foot from the station.

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 10.0% of total transactions in 2018 and 28.6% of total transactions in 2019)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 13.5 years old in 2018 and 17.9 years old in 2019; +32.3%)
  • A dramatic increase in average distance from the station (representing 5.4 min in 2018 and 8.3 min in 2019; +53.4%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 20.0% of total transactions in 2018 and 42.9% of total transactions in 2019)
The table below shows Apartment dealt in Yamaguchi Hofu-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 Hofu-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
Ube-Shi 若松町 (17) [Area]16,000,000211,111 JPY/sq.m12.8 yrs6 min90 sq.m
Yamaguchi-Shi 小郡御幸町 (13) [Area]19,000,000212,500 JPY/sq.m17.5 yrs6 min90 sq.m
Ube-Shi 上町 (19) [Area]14,000,000200,000 JPY/sq.m13.5 yrs8 min75 sq.m
Ube-Shi 朝日町 (17) [Area]18,000,000200,000 JPY/sq.m13.8 yrs8 min80 sq.m
JR JR Ube Line (347) [Stations]16,000,000200,000 JPY/sq.m15.6 yrs8 min75 sq.m
JR JR Onoda Line (94) [Stations]14,000,000200,000 JPY/sq.m17.5 yrs8 min75 sq.m
JR Ube Line Ubeshinnkawa (82) [Stations]14,000,000200,000 JPY/sq.m17.5 yrs7 min75 sq.m
JR Onoda Line Ubeshinnkawa (82) [Stations]14,000,000200,000 JPY/sq.m17.5 yrs7 min75 sq.m
JR Sanyo Main Line Houfu (88) [Stations]15,500,000187,594 JPY/sq.m13.4 yrs6 min70 sq.m