The average price of a sq.m Home of Miyagi Toda-Gun, in 2017 was 98,497 JPY/sq.m. The market value represents a decrease of 37,841 JPY (-27.8%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 14 (-73.7%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 26.2 years old (a +48.1% increase compared to the 17.7 years old of last year.). The average size of the real estate was 670.0 sq.m (a +57.7% increase compared to the 424.7 sq.m of last year.). The average total floor space of the real estate was 135.0 sq.m (a +12.2% increase compared to the 120.3 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving total floor space for a general family households less than 100 sq.m.
Causes of price decreases
- A dramatic increase in average age of the building (representing 17.7 years old in 2016 and 26.2 years old in 2017; +48.1%)
- A dramatic increase in average distance from the station (representing 14.6 min in 2016 and 37.2 min in 2017; +154.2%)
- A dramatic increase in transactions involving older buildings over 40 years old (representing 11.8% 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 Wakuya-Cho at -57.1% (The rate of decline after 30 years). On the other hand, market values along the Misato-Machi was the most resistant to decline at -53.4% (The same rate).Data regarding the market value and its changes of Home in Toda-Gun were calculated using data on the sales of 229 properties provided by the MLIT Japan.