Miyagi-Gun Home market overview [Show ]
The average price of a sq.m Home of Miyagi Miyagi-Gun, in 2017 was 158,768 JPY/sq.m. The market value represents a decrease of 1,514 JPY (-0.9%) compared to 1 year ago and a transition to a slight market. 18 properties exchanged hands ( The market value represents a decrease of 19 (-51.4%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 22.3 years old (a +17.5% increase compared to the 19.0 years old of last year.). The average size of the real estate was 264.7 sq.m (a -10.0% decrease compared to the 294.2 sq.m of last year.). The average total floor space of the real estate was 125.6 sq.m (a -12.3% decrease compared to the 143.2 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively large size more than 100 sq.m, as well as a dramatic increase in transactions involving locations less than ten minutes by foot from the station.
Cause of price increases
- A dramatic decrease in average distance from the station (representing 25.9 min in 2016 and 20.4 min in 2017; -21.2%)
Causes of price decreases
- An increase in average age of the building (representing 19.0 years old in 2016 and 22.3 years old in 2017; +17.5%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 33.3% of total transactions in 2016 and 41.2% of total transactions in 2017)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 16.7% of total transactions in 2016 and 23.5% of total transactions in 2017)
In accordance with the aging of buildings, the area whose values were most likely to decline was the Shichigahama-Machi at -51.0% (The rate of decline after 30 years). On the other hand, market values along the Rifu-Cho was the most resistant to decline at -32.0% (The same rate).Data regarding the market value and its changes of Home in Miyagi-Gun were calculated using data on the sales of 607 properties provided by the MLIT Japan.
|Area||Average Trading Price||Average Unit Price|
|Matsushima-Machi||15,935,556 JPY||143,724 JPY/sq.m|
|Shichigahama-Machi [Utilization ]||22,583,721 JPY||189,806 JPY/sq.m|
|Rifu-Cho [Utilization ]||36,581,333 JPY||201,816 JPY/sq.m|