The average price of a sq.m Apartment of Saitama-Shi Nishi-Ku, in 2017 was 137,466 JPY/sq.m. The market value represents a decrease of 48,017 JPY (-25.9%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents a decrease of 9 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 37.6 years old (a +39.1% increase compared to the 27.1 years old of last year.). The average size of the real estate was 52.5 sq.m (a -40.6% decrease compared to the 88.3 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving middle size for a DINKS or an old age households less than 60 sq.m.
Cause of price increases
- A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 71.4% of total transactions in 2016 and 40.0% of total transactions in 2017)
Causes of price decreases
- A dramatic increase in average age of the building (representing 27.1 years old in 2016 and 37.6 years old in 2017; +39.1%)
- A dramatic increase in average distance from the station (representing 14.2 min in 2016 and 24.5 min in 2017; +72.5%)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 21.4% of total transactions in 2016 and 60.0% of total transactions in 2017)
The highest Apartment market value is 大字宝来 at 200,000 JPY/sq.m. On the other hand, those with the lowest market value is 大字植田谷本 at 80,000 JPY/sq.m.
In accordance with the aging of buildings, the area whose values were most likely to decline was the 大字高木 at -47.5% (The rate of decline after 30 years). On the other hand, market values along the 大字指扇 was the most resistant to decline at -2.9% (The same rate).
Data regarding the market value and its changes of Apartment in Nishi-Ku were calculated using data on the sales of 265 properties provided by the MLIT Japan.