The average price of a sq.m Apartment of Kyoto JR JR San-in Main Line, in 2017 was 376,672 JPY/sq.m. The market value represents a decrease of 4,174 JPY (-1.1%) compared to 1 year ago and a transition to a slight market. 7 properties exchanged hands ( The market value represents a decrease of 73 (-91.2%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 28.3 years old (a +32.9% increase compared to the 21.3 years old of last year.). The average size of the real estate was 50.0 sq.m (a -6.0% decrease compared to the 53.2 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving older buildings over 40 years old.
Causes of price decreases
- A dramatic increase in average age of the building (representing 21.3 years old in 2016 and 28.3 years old in 2017; +32.9%)
- An increase in average distance from the station (representing 9.8 min in 2016 and 11.0 min in 2017; +12.0%)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 12.5% of total transactions in 2016 and 28.6% of total transactions in 2017)
The highest Apartment market value is Kyoto at 478,462 JPY/sq.m. On the other hand, those with the lowest market value is Sonobe at 100,000 JPY/sq.m.
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Sonobe at -82.6% (The rate of decline after 30 years). On the other hand, market values along the Tannbaguchi was the most resistant to decline at -39.6% (The same rate).
Data regarding the market value and its changes of Apartment in JR San-in Main Line were calculated using data on the sales of 923 properties provided by the MLIT Japan.