IRi Land average value

Price 12,660,714 JPY
  (13,069 JPY/sq.m)
- Dist. from Sta. 34.9 min walk
- Property area 1062.3 sq.m

The average price of a sq.m Land of Okayama JR Akō Line IRi, in 2017 was 8,894 JPY/sq.m. The market value represents a decrease of 12,806 JPY (-59.0%) compared to 1 year ago and a transition to a dramatic market. 17 properties exchanged hands ( The market value represents an increase of 11 (+183.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 1235.9 sq.m (a +41.2% increase compared to the 875.0 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 43.5 min in 2016 and 28.5 min in 2017; -34.6%)
Data regarding the market value and its changes of Land in IRi were calculated using data on the sales of 59 properties provided by the MLIT Japan.

IRi Land transaction price list

areaTrading PriceUnit PriceStationDistance from the station
穂浪6,000,000 JPY120,208 JPY/sq.mIRi30 min
穂浪2,000,000 JPY22,797 JPY/sq.mIRi30 min
八木山1,000,000 JPY4,238 JPY/sq.mIRi30 min
穂浪19,000,000 JPY165,289 JPY/sq.mIRi30 min
麻宇那13,000,000 JPY26,860 JPY/sq.mIRi30 min
穂浪1,400,000 JPY42,073 JPY/sq.mIRi30 min
麻宇那6,700,000 JPY28,393 JPY/sq.mIRi30 min
蕃山100,000 JPY826 JPY/sq.mIRi30 min
木谷17,000,000 JPY43,226 JPY/sq.mIRi30 min
木谷8,500,000 JPY43,904 JPY/sq.mIRi30 min
穂浪40,000,000 JPY136,321 JPY/sq.mIRi30 min
穂浪800,000 JPY12,592 JPY/sq.mIRi30 min
伊里中9,500,000 JPY31,405 JPY/sq.mIRi30 min
伊里中34,000,000 JPY- JPY/sq.mIRi30 min
伊里中32,000,000 JPY- JPY/sq.mIRi30 min
伊里中2,100,000 JPY30,182 JPY/sq.mIRi30 min
伊里中7,400,000 JPY29,831 JPY/sq.mIRi30 min
伊里中38,000,000 JPY- JPY/sq.mIRi30 min
伊里中15,000,000 JPY30,992 JPY/sq.mIRi30 min
伊里中1,800,000 JPY29,752 JPY/sq.mIRi30 min

JR Akō Line Railway market report

2017. Jan - Dec
 82 tradings
2016. Jan - Dec
 130 tradings
2015. Jan - Dec
 93 tradings
2014. Jan - Dec
 113 tradings
4Q
42
3Q
16
2Q
8
1Q
16
4Q
37
3Q
34
2Q
39
1Q
20
4Q
27
3Q
29
2Q
15
1Q
22
4Q
33
3Q
27
2Q
21
1Q
32

Land value Distance From The Station transition

Market values (unit price: sq.m, m2) in terms of Distance From The Station, is as follow.

The orange line means market values (unit price: sq.m) for Land in terms of Distance From The Station. 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 Distance From The Station is updated.)
Color:
Unit:   Touch:


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Land value Distance From The Station transition. Market values in terms of Distance From The Station.

Land value Distance From The Station 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




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Calculate IRi Land market value

We can calculate market values for Land 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 Okayama JR Akō Line IRi Land that meet the above conditions were calculated in the following manner.

{{currentObj|applyRegCalculatePrecise:averageObj:coefObj:true:true}}
({{unit_price|number:0}} JPY/sq.m)

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

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Trading Data

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

Related sales({{similarlist.length}})

1. Okayama Bizen-Shi 穂浪Bizen-Shi IRi 30.0 min walk)
, Area: 970 sq.m
- Trading date: 2015-09-01T00:00:00Z

Trading price:   40,000,000 JPY,    Unit price:   41,237 JPY/sq.m

2. Okayama Bizen-Shi 伊里中Bizen-Shi IRi 30.0 min walk)
, Area: 1000 sq.m
- Trading date: 2017-12-01T00:00:00Z

Trading price:   9,500,000 JPY,    Unit price:   9,500 JPY/sq.m

3. Okayama Bizen-Shi 穂浪Bizen-Shi IRi 28.0 min walk)
, Area: 960 sq.m
- Trading date: 2008-03-01T00:00:00Z

Trading price:   23,000,000 JPY,    Unit price:   23,958 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

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Land market value trends

Market value trends for Land are as follows.

Data:
Unit:   Touch:


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Land market value trends Market value trends for Land.

Land market value trends


Breakdown of each segment

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 43.5 min in 2016 and 28.5 min in 2017; -34.6%)
The table below shows Land dealt in Okayama JR Akō Line IRi, 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:

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    Area close to the price in IRi

    The closest areas in terms of Land 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
    JR Akō Line Nishikatakami (24) [Stations]3,550,00012,168 yrs45 min250 sq.m
    JR Akō Line Bizennkatakami (19) [Stations]6,400,00014,814 yrs10 min360 sq.m
    JR Akō Line Osafune (133) [Stations]4,600,00015,000 yrs23 min330 sq.m
    JR Akō Line Kagato (62) [Stations]3,500,00010,307 yrs14 min415 sq.m
    JR Akō Line Oodomi (29) [Stations]7,000,00016,551 yrs16 min250 sq.m
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