JR Kagoshima Main Line Apartment market overview [Show ]
The average price of a sq.m Apartment of Kagoshima JR JR Kagoshima Main Line, in 2017 was 225,454 JPY/sq.m. The market value represents a decrease of 17,213 JPY (-7.1%) compared to 1 year ago and a transition to a bear market. 11 properties exchanged hands ( The market value represents a decrease of 32 (-74.4%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 23.7 years old (a +11.4% increase compared to the 21.3 years old of last year.). The average size of the real estate was 52.7 sq.m (a -4.9% 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
- An increase in average age of the building (representing 21.3 years old in 2016 and 23.7 years old in 2017; +11.4%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 48.6% of total transactions in 2016 and 62.5% 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 -44.0% (The rate of decline after 30 years). On the other hand, market values along the Kagoshima was the most resistant to decline at -44.0% (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 633 properties provided by the MLIT Japan.
|Stations||Average Trading Price||Average Unit Price|
|Sendai [Utilization ]||16,800,000 JPY||215,126 JPY/sq.m|
|Kagoshima-Chuo [Utilization ]||15,844,444 JPY||248,626 JPY/sq.m|
|Kagoshima [Utilization ]||16,029,524 JPY||234,219 JPY/sq.m|