The average price of a sq.m Apartment of Fukushima JR, in 2017 was 175,456 JPY/sq.m. The market value represents a decrease of 30,630 JPY (-14.9%) compared to 1 year ago and a transition to a weak market. 15 properties exchanged hands ( The market value represents a decrease of 81 (-84.4%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 26.5 years old (a +24.7% increase compared to the 21.3 years old of last year.). The average size of the real estate was 49.0 sq.m (a -17.1% decrease compared to the 59.1 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving small size for a single person households less than 30 sq.m.
Causes of price decreases
- A dramatic increase in average age of the building (representing 21.3 years old in 2016 and 26.5 years old in 2017; +24.7%)
- A dramatic increase in average distance from the station (representing 20.1 min in 2016 and 24.4 min in 2017; +21.2%)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 4.3% of total transactions in 2016 and 13.3% of total transactions in 2017)
The highest Apartment market value is JR Joban Line at 288,312 JPY/sq.m. On the other hand, those with the lowest market value is JR Ban'etsu West Line at 171,111 JPY/sq.m.
In accordance with the aging of buildings, the stations whose values were most likely to decline was the JR Tohoku Main Line at -55.5% (The rate of decline after 30 years). On the other hand, market values along the JR Joban Line was the most resistant to decline at -39.0% (The same rate).
Data regarding the market value and its changes of Apartment in JR were calculated using data on the sales of 1,136 properties provided by the MLIT Japan.