Mie JR Kisei Main Line Apartment market overview [Show ]
The average price of a sq.m Apartment of Mie JR JR Kisei Main Line, in 2017 was 246,154 JPY/sq.m. The market value represents an increase of 51,159 JPY (+26.2%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 13 (-76.5%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 14.1 years old (a -15.9% decrease compared to the 16.8 years old of last year.). The average size of the real estate was 80.0 sq.m (a +8.4% increase compared to the 73.8 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving new buildings under 10 years old.
Cause of price increases
- An decrease in average age of the building (representing 16.8 years old in 2016 and 14.1 years old in 2017; -15.9%)
- A dramatic decrease in average distance from the station (representing 19.5 min in 2016 and 12.8 min in 2017; -34.7%)
- A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 11.8% of total transactions in 2016 and 25.0% of total transactions in 2017)
In accordance with the aging of buildings, the stations whose values were most likely to decline was the Akogi at -65.0% (The rate of decline after 30 years). On the other hand, market values along the Tsu was the most resistant to decline at -35.0% (The same rate).Data regarding the market value and its changes of Apartment in JR Kisei Main Line were calculated using data on the sales of 186 properties provided by the MLIT Japan.
|Stations||Average Trading Price||Average Unit Price|
|Tsu [Utilization ]||22,750,000 JPY||303,675 JPY/sq.m|
|Akogi [Utilization ]||8,941,667 JPY||144,051 JPY/sq.m|
|Matsusaka [Utilization ]||14,833,333 JPY||194,844 JPY/sq.m|
|Tokuwa [Utilization ]||10,625,000 JPY||145,512 JPY/sq.m|