Ise iron Isesen railway market report

Ise iron Isesen Apartment market overview

The average price of Ise iron Isesen (Yokkaichi to Tsu) Apartment, in Jan, 2020 to Dec, 2020 was 229,075 JPY/sq.m. The market value represents a decrease of 48,907 JPY (-17.6%) compared to 1 year ago and a transition to a weak market. 21 properties exchanged hands ( The market value represents an increase of 2 (+10.5%) compared to 1 year ago and a transition to a bull market.).

The average age of the real estate was 21.7 years old (a +19.1% increase compared to the 18.3 years old of last year.). The average size of the real estate was 70.5 sq.m (a -5.7% decrease compared to the 74.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively old buildings under 40 years old.

1 stations have experienced increased prices; 2 stations have experienced decreased prices. Market value of most stations decreased. Minamiyokkaichi station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Minamiyokkaichi station, where prices have increased +19.9% compared to last year; a sq.m unit now costs 179,832 JPY/sq.m.

The top 1 stations has seen prices increase +19.9% (+29,832 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -26.1% (-72,336 JPY/sq.m).

Cause of price increases

  • An decrease in average distance from the station (representing 12.0 min in 2019 and 10.5 min in 2020; -12.7%)

Causes of price decreases

  • An increase in average age of the building (representing 18.3 years old in 2019 and 21.7 years old in 2020; +19.1%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 42.1% of total transactions in 2019 and 61.9% of total transactions in 2020)

Apartment stations market overview

The average price of Tsu Apartment, the highest market value along this railway was 254,435 JPY/sq.m. The market value represents a decrease of 32,876 JPY (-11.4%) compared to 1 year ago and a transition to a weak market. 10 properties exchanged hands ( The market value represents a decrease of 4 (-28.6%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Minamiyokkaichi Apartment, the lowest market value along this railway was 179,832 JPY/sq.m. The market value represents an increase of 29,832 JPY (+19.9%) compared to 1 year ago and a transition to a bull market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

Ise iron Isesen (Stations Apartment market overview)
Ise iron IsesenThis year(2020)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Yokkaichi204,986 JPYsq.m
(26.92842465753424762.5sq.m)
277,322 JPYsq.m
(23.6417808219178165.0sq.m)
152,308 JPYsq.m
(28.01917808219178257.5sq.m)
Minamiyokkaichi179,832 JPYsq.m
(31.14794520547945277.5sq.m)
150,000 JPYsq.m
(30.52328767123287580.0sq.m)
-
Tamagaki266,667 JPYsq.m
(23.5205479452054875.0sq.m)
-52,857 JPYsq.m
(24.7698630136986370.0sq.m)
Tsu254,435 JPYsq.m
(15.5389041095890475.0sq.m)
287,311 JPYsq.m
(15.83326810176125277.1sq.m)
252,166 JPYsq.m
(15.61643835616438472.1sq.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

Minamiyokkaichi179,832 JPY/sq.m (+20% compared with the previous year)

The average price of Minamiyokkaichi Apartment was 179,832 JPY/sq.m. The market value represents an increase of 29,832 JPY (+19.9%) compared to 1 year ago and a transition to a bull market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 31.1 years old (a +2.0% increase compared to the 30.5 years old of last year.). The average size of the real estate was 77.5 sq.m (a -3.1% decrease compared to the 80.0 sq.m of last year.).

Cause of price increases

  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2019 and 100.0% of total transactions in 2020)

Yokkaichi204,986 JPY/sq.m (-26% compared with the previous year)

The average price of Yokkaichi Apartment was 204,986 JPY/sq.m. The market value represents a decrease of 72,336 JPY (-26.1%) compared to 1 year ago and a transition to a dramatic market. 8 properties exchanged hands ( The market value represents an increase of 4 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 26.9 years old (a +13.9% increase compared to the 23.6 years old of last year.). The average size of the real estate was 62.5 sq.m (a -3.8% decrease compared to the 65.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 9.5 min in 2019 and 8.1 min in 2020; -14.5%)

Causes of price decreases

  • An increase in average age of the building (representing 23.6 years old in 2019 and 26.9 years old in 2020; +13.9%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2019 and 87.5% of total transactions in 2020)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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Corporate Profile

Company Name Utinokati
Utinokati Real estate media providing price quotes and price trends for condominiums, homes, land and rental properties in 250,000 locations nationwide, along more than 20,000 train lines and stations, as well as rent quotes and rent trends.
Totinokati Real estate media providing public land prices, roadside land prices (inheritance tax assessed values), and property tax assessed values for 10,000 areas and station areas nationwide, based on the Ministry of Land, Infrastructure, Transport and Tourism's public notice of land prices.
Location Kudanminami 1-5-6, Chiyoda-ku, Tokyo, Japan
Foundation November, 2014
Mission Our mission is to use past real estate transaction data to visualize real estate pricing across Japan and offer that information to users in a convenient fashion.