JR Kansai Main Line railway market report
- Type: Apartment
- Line: JR Kansai Main Line
Kuwana Kawano [19 stations] - Period: 2021 - 3Q
Jul, 2021 Sep, 2021
JR Kansai Main Line Apartment market overview
The average price of JR Kansai Main Line (Kuwana to Kawano) Apartment, in Jul, 2021 to Sep, 2021 was 242,192 JPY/sq.m. The market value represents an increase of 5,184 JPY (+2.2%) compared to 1 year ago and a transition to a slight market. 11 properties exchanged hands ( The market value represents an increase of 1 (+10.0%) compared to 1 year ago and a transition to a bull market.).
The average age of the real estate was 23.4 years old (a +1.8% increase compared to the 23.0 years old of last year.). The average size of the real estate was 77.3 sq.m (a +5.1% increase compared to the 73.5 sq.m of last year.).
One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station.
1 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased. Kuwana station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Kuwana station, where prices have increased +14.2% compared to last year; a sq.m unit now costs 271,357 JPY/sq.m.
The top 1 stations has seen prices increase +14.2% (+33,727 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -15.4% (-36,389 JPY/sq.m).
Cause of price increases
- A dramatic decrease in average distance from the station (representing 11.8 min in 2020 and 8.0 min in 2021; -32.2%)
- A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 10.0% of total transactions in 2020 and 18.2% of total transactions in 2021)
Apartment stations market overview
The average price of Kuwana Apartment, the highest market value along this railway was 271,357 JPY/sq.m. The market value represents an increase of 33,727 JPY (+14.2%) compared to 1 year ago and a transition to a bull market. 7 properties exchanged hands (It was the same as last year.).
The average price of Yokkaichi Apartment, the lowest market value along this railway was 199,166 JPY/sq.m. The market value represents a decrease of 36,389 JPY (-15.4%) compared to 1 year ago and a transition to a weak market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).
| JR Kansai Main Line | This year(2021) (Avg.Age,Dim.) | 1 year ago (Avg.Age,Dim.) | 2 years ago (Avg.Age,Dim.) |
|---|---|---|---|
| Kuwana | 271,357 JPYsq.m (22.94833659491193678.6sq.m) | 237,630 JPYsq.m (23.23483365949119472.9sq.m) | 257,564 JPYsq.m (22.51780821917808273.1sq.m) |
| Tomida | 352,941 JPYsq.m (9.50958904109589185.0sq.m) | - | 346,667 JPYsq.m (7.50684931506849375.0sq.m) |
| Yokkaichi | 199,166 JPYsq.m (30.52602739726027570.0sq.m) | 235,555 JPYsq.m (22.5205479452054875.0sq.m) | 314,286 JPYsq.m (23.51780821917808270.0sq.m) |
| Minamiyokkaichi | - | - | 150,000 JPYsq.m (30.52328767123287580.0sq.m) |
| Kawano | 13,333 JPYsq.m (26.52328767123287575.0sq.m) | - | - |
*Average unit prices per sq.m of Apartment at each train station were calculated using the Utinokati database of actual market sales prices (based on surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism of Japan). Units: JPY (Japanese Yen); parenthesis contain average age in years of building / equivalent measurement of area of real estate.
Noteworthy stations
Kuwana 271,357 JPY/sq.m (+14% compared with the previous year)
The average price of Kuwana Apartment was 271,357 JPY/sq.m. The market value represents an increase of 33,727 JPY (+14.2%) compared to 1 year ago and a transition to a bull market. 7 properties exchanged hands (It was the same as last year.).
The average age of the real estate was 22.9 years old (a -1.2% decrease compared to the 23.2 years old of last year.). The average size of the real estate was 78.6 sq.m (a +7.8% increase compared to the 72.9 sq.m of last year.).
Cause of price increases
- A dramatic decrease in average distance from the station (representing 13.3 min in 2020 and 9.3 min in 2021; -30.1%)
- A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 71.4% of total transactions in 2020 and 57.1% of total transactions in 2021)
Causes of price decreases
- A slight decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 14.3% of total transactions in 2020 and 14.3% of total transactions in 2021)
Yokkaichi 199,166 JPY/sq.m (-15% compared with the previous year)
The average price of Yokkaichi Apartment was 199,166 JPY/sq.m. The market value represents a decrease of 36,389 JPY (-15.4%) compared to 1 year ago and a transition to a weak market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).
The average age of the real estate was 30.5 years old (a +35.5% increase compared to the 22.5 years old of last year.). The average size of the real estate was 70.0 sq.m (a -6.7% decrease compared to the 75.0 sq.m of last year.).
Causes of price decreases
- A dramatic increase in average age of the building (representing 22.5 years old in 2020 and 30.5 years old in 2021; +35.5%)
- A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 66.7% of total transactions in 2020 and 100.0% of total transactions in 2021)
Breakdown of each segment
Station: Segment:
