The average price of a sq.m Home of Okinawa Miyakojima-Shi, in 2016 was 142,787 JPY/sq.m. The market value represents an increase of 55,868 JPY (+64.3%) compared to 1 year ago and a transition to a dramatic market. 16 properties exchanged hands ( The market value represents an increase of 8 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 29.0 years old (a -16.0% decrease compared to the 34.5 years old of last year.). The average size of the real estate was 497.5 sq.m (a +30.5% increase compared to the 381.2 sq.m of last year.). The average total floor space of the real estate was 153.4 sq.m (a -3.3% decrease compared to the 158.8 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving very large total floor space more than 200 sq.m.
Cause of price increases
- An decrease in average age of the building (representing 34.5 years old in 2015 and 29.0 years old in 2016; -16.0%)
- An decrease in transactions involving relatively old buildings under 40 years old (representing 57.1% of total transactions in 2015 and 50.0% of total transactions in 2016)
The highest Home market value is 上野 at 157,142 JPY/sq.m. On the other hand, those with the lowest market value is 伊良部 at 46,153 JPY/sq.m.
In accordance with the aging of buildings, the area whose values were most likely to decline was the 伊良部 at -66.3% (The rate of decline after 30 years). On the other hand, market values along the 下地 was the most resistant to decline at -38.4% (The same rate).
Data regarding the market value and its changes of Home in Miyakojima-Shi were calculated using data on the sales of 173 properties provided by the MLIT Japan.