The average price of a sq.m Apartment of Kagoshima JR JR Ibusuki Makurazaki Line, in 2017 was 174,423 JPY/sq.m. The market value represents a decrease of 73,089 JPY (-29.5%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents a decrease of 42 (-79.2%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 27.3 years old (a +37.3% increase compared to the 19.9 years old of last year.). The average size of the real estate was 48.6 sq.m (a -13.6% decrease compared to the 56.3 sq.m of last year.).
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 near to the station less than three minutes by foot from the station (representing 3.8% of total transactions in 2016 and 9.1% of total transactions in 2017)
Causes of price decreases
- A dramatic increase in average age of the building (representing 19.9 years old in 2016 and 27.3 years old in 2017; +37.3%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 44.4% of total transactions in 2016 and 72.7% of total transactions in 2017)
The highest Apartment market value is Kagoshima-Chuo at 242,857 JPY/sq.m. On the other hand, those with the lowest market value is Minamikagoshima at 171,666 JPY/sq.m.
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Taniyama at -60.1% (The rate of decline after 30 years). On the other hand, market values along the Korimoto was the most resistant to decline at -32.0% (The same rate).
Data regarding the market value and its changes of Apartment in JR Ibusuki Makurazaki Line were calculated using data on the sales of 824 properties provided by the MLIT Japan.