The average price of a sq.m Home of Okinawa Nanjo-Shi, in 2016 was 268,958 JPY/sq.m. The market value represents an increase of 41,266 JPY (+18.1%) compared to 1 year ago and a transition to a bull market. 9 properties exchanged hands ( The market value represents an increase of 3 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 13.2 years old (a -19.1% decrease compared to the 16.3 years old of last year.). The average size of the real estate was 426.7 sq.m (a +32.6% increase compared to the 321.7 sq.m of last year.). The average total floor space of the real estate was 211.4 sq.m (a +85.5% increase compared to the 114.0 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
- An decrease in average age of the building (representing 16.3 years old in 2015 and 13.2 years old in 2016; -19.1%)
- An decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2015 and 42.9% of total transactions in 2016)
Causes of price decreases
- A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 50.0% of total transactions in 2015 and 28.6% of total transactions in 2016)
The highest Home market value is 大里 at 185,450 JPY/sq.m. On the other hand, those with the lowest market value is 佐敷 at 115,789 JPY/sq.m.
In accordance with the aging of buildings, the area whose values were most likely to decline was the 知念 at -75.3% (The rate of decline after 30 years). On the other hand, market values along the 大里 was the most resistant to decline at -27.0% (The same rate).
Data regarding the market value and its changes of Home in Nanjo-Shi were calculated using data on the sales of 134 properties provided by the MLIT Japan.