The average price of a sq.m Apartment of Kagoshima JR JR Kagoshima Main Line, in 2017 was 194,925 JPY/sq.m. The market value represents a decrease of 47,741 JPY (-19.7%) compared to 1 year ago and a transition to a weak market. 7 properties exchanged hands ( The market value represents a decrease of 36 (-83.7%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 26.0 years old (a +22.2% increase compared to the 21.3 years old of last year.). The average size of the real estate was 45.7 sq.m (a -17.6% decrease compared to the 55.5 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.
Causes of price decreases
- A dramatic increase in average age of the building (representing 21.3 years old in 2016 and 26.0 years old in 2017; +22.2%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 48.6% of total transactions in 2016 and 71.4% of total transactions in 2017)
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Sendai at -44.1% (The rate of decline after 30 years). On the other hand, market values along the Kagoshima was the most resistant to decline at -33.9% (The same rate).Data regarding the market value and its changes of Apartment in JR Kagoshima Main Line were calculated using data on the sales of 629 properties provided by the MLIT Japan.