The average price of a sq.m Land of Tokyo Suginami-Ku, in 2017 was 543,957 JPY/sq.m. The market value represents a decrease of 30,801 JPY (-5.4%) compared to 1 year ago and a transition to a bear market. 32 properties exchanged hands ( The market value represents a decrease of 97 (-75.2%) compared to 1 year ago and a transition to a dramatic market.).
The average size of the real estate was 144.4 sq.m (a -9.9% decrease compared to the 160.2 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.
Causes of price decreases
- An increase in average distance from the station (representing 9.2 min in 2016 and 10.1 min in 2017; +10.6%)
- An decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 19.4% of total transactions in 2016 and 15.6% of total transactions in 2017)
The highest Land market value is 高円寺南 at 631,578 JPY/sq.m. On the other hand, those with the lowest market value is 上高井戸 at 372,727 JPY/sq.m.
Data regarding the market value and its changes of Land in Suginami-Ku were calculated using data on the sales of 3,138 properties provided by the MLIT Japan.