The average price of a sq.m Home of Miyagi Miyagi-Gun, in 2017 was 122,995 JPY/sq.m. The market value represents a decrease of 37,287 JPY (-23.3%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents a decrease of 27 (-73.0%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 26.6 years old (a +40.3% increase compared to the 19.0 years old of last year.). The average size of the real estate was 236.0 sq.m (a -19.8% decrease compared to the 294.2 sq.m of last year.). The average total floor space of the real estate was 135.5 sq.m (a -5.4% 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.
Cause of price increases
- A dramatic decrease in average distance from the station (representing 25.9 min in 2016 and 18.2 min in 2017; -29.9%)
Causes of price decreases
- A dramatic increase in average age of the building (representing 19.0 years old in 2016 and 26.6 years old in 2017; +40.3%)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 16.7% of total transactions in 2016 and 33.3% 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 -54.1% (The rate of decline after 30 years). On the other hand, market values along the Rifu-Cho was the most resistant to decline at -32.4% (The same rate).Data regarding the market value and its changes of Home in Miyagi-Gun were calculated using data on the sales of 599 properties provided by the MLIT Japan.