The average price of a sq.m Apartment of Kyoto Eizan Electric Railway Eizan Electric Railway Kurama Line, in 2016 was 394,118 JPY/sq.m. The market value represents a decrease of 2,036 JPY (-0.5%) compared to 1 year ago and a transition to a slight market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 25.1 years old (a +10.4% increase compared to the 22.8 years old of last year.). The average size of the real estate was 80.0 sq.m (a +10.3% increase compared to the 72.5 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 22.8 years old in 2015 and 25.1 years old in 2016; +10.4%)
- A dramatic increase in average distance from the station (representing 1.8 min in 2015 and 2.5 min in 2016; +42.9%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2015 and 100.0% of total transactions in 2016)
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Nikennchaya at -52.7% (The rate of decline after 30 years). On the other hand, market values along the Takaragaike was the most resistant to decline at -37.6% (The same rate).Data regarding the market value and its changes of Apartment in Eizan Electric Railway Kurama Line were calculated using data on the sales of 36 properties provided by the MLIT Japan.