Ise iron Isesen railway market report

Ise iron Isesen Apartment market overview

The average price of Ise iron Isesen (Yokkaichi to Tsu) Apartment, in Jul, 2021 to Sep, 2021 was 216,095 JPY/sq.m. The market value represents a decrease of 39,019 JPY (-15.3%) compared to 1 year ago and a transition to a weak market. 5 properties exchanged hands ( The market value represents a decrease of 1 (-16.7%) compared to 1 year ago and a transition to a weak market.).

The average age of the real estate was 25.7 years old (a +34.1% increase compared to the 19.2 years old of last year.). The average size of the real estate was 72.0 sq.m (a -7.1% decrease compared to the 77.5 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. Tsu station has seen a price increase of over 5% compared to last year. The most dramatic price increase was at Tsu station, where prices have increased +7.0% compared to last year; a sq.m unit now costs 298,214 JPY/sq.m.

The top 1 stations has seen prices increase +7.0% (+19,538 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -67.9% (-180,953 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 16.7% of total transactions in 2020 and 20.0% of total transactions in 2021)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 19.2 years old in 2020 and 25.7 years old in 2021; +34.1%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2020 and 80.0% of total transactions in 2021)

Apartment stations market overview

The average price of Tsu Apartment, the highest market value along this railway was 298,214 JPY/sq.m. The market value represents an increase of 19,538 JPY (+7.0%) compared to 1 year ago and a transition to a strong market. 2 properties exchanged hands (It was the same as last year.).

The average price of Tamagaki Apartment, the lowest market value along this railway was 85,714 JPY/sq.m. The market value represents a decrease of 180,953 JPY (-67.9%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

Ise iron Isesen (Stations Apartment market overview)
Ise iron IsesenThis year(2021)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Yokkaichi199,166 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)
Tamagaki85,714 JPYsq.m
(27.52328767123287570.0sq.m)
266,667 JPYsq.m
(23.5205479452054875.0sq.m)
-
Tsu298,214 JPYsq.m
(20.01780821917808275.0sq.m)
278,676 JPYsq.m
(12.01232876712328882.5sq.m)
287,850 JPYsq.m
(14.51232876712328874.0sq.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

Tsu298,214 JPY/sq.m (+7% compared with the previous year)

The average price of Tsu Apartment was 298,214 JPY/sq.m. The market value represents an increase of 19,538 JPY (+7.0%) compared to 1 year ago and a transition to a strong market. 2 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 20.0 years old (a +66.6% increase compared to the 12.0 years old of last year.). The average size of the real estate was 75.0 sq.m (a -9.1% decrease compared to the 82.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 12.0 years old in 2020 and 20.0 years old in 2021; +66.6%)
  • A dramatic increase in average distance from the station (representing 11.0 min in 2020 and 13.5 min in 2021; +22.7%)

Tamagaki85,714 JPY/sq.m (-68% compared with the previous year)

The average price of Tamagaki Apartment was 85,714 JPY/sq.m. The market value represents a decrease of 180,953 JPY (-67.9%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 27.5 years old (a +17.0% increase compared to the 23.5 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.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 11.0 min in 2020 and 4.0 min in 2021; -63.6%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2020 and 100.0% of total transactions in 2021)

Causes of price decreases

  • An increase in average age of the building (representing 23.5 years old in 2020 and 27.5 years old in 2021; +17.0%)

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.