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, 2021 to Dec, 2021 was 248,214 JPY/sq.m. The market value represents an increase of 19,140 JPY (+8.4%) compared to 1 year ago and a transition to a strong market. 15 properties exchanged hands ( The market value represents a decrease of 6 (-28.6%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 23.0 years old (a +5.9% increase compared to the 21.7 years old of last year.). The average size of the real estate was 73.7 sq.m (a +4.5% increase compared to the 70.5 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

2 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Yokkaichi station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Yokkaichi station, where prices have increased +10.1% compared to last year; a sq.m unit now costs 225,682 JPY/sq.m.

The top 1 stations has seen prices increase +10.1% (+20,696 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 9.5% of total transactions in 2020 and 13.3% of total transactions in 2021)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 10.5 min in 2020 and 13.1 min in 2021; +25.4%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 61.9% of total transactions in 2020 and 73.3% of total transactions in 2021)

Apartment stations market overview

The average price of Tsu Apartment, the highest market value along this railway was 273,477 JPY/sq.m. The market value represents an increase of 19,042 JPY (+7.5%) compared to 1 year ago and a transition to a strong market. 10 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.)
Yokkaichi225,682 JPYsq.m
(28.64863013698630268.8sq.m)
204,986 JPYsq.m
(26.92842465753424762.5sq.m)
277,322 JPYsq.m
(23.6417808219178165.0sq.m)
Minamiyokkaichi-179,832 JPYsq.m
(31.14794520547945277.5sq.m)
150,000 JPYsq.m
(30.52328767123287580.0sq.m)
Tamagaki85,714 JPYsq.m
(27.52328767123287570.0sq.m)
266,667 JPYsq.m
(23.5205479452054875.0sq.m)
-
Tsu273,477 JPYsq.m
(20.34082191780821776.0sq.m)
254,435 JPYsq.m
(15.5389041095890475.0sq.m)
287,311 JPYsq.m
(15.83326810176125277.1sq.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

Yokkaichi225,682 JPY/sq.m (+10% compared with the previous year)

The average price of Yokkaichi Apartment was 225,682 JPY/sq.m. The market value represents an increase of 20,696 JPY (+10.1%) compared to 1 year ago and a transition to a bull market. 4 properties exchanged hands ( The market value represents a decrease of 4 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 28.6 years old (a +6.4% increase compared to the 26.9 years old of last year.). The average size of the real estate was 68.8 sq.m (a +10.0% increase compared to the 62.5 sq.m of last year.).

Causes of price decreases

  • An increase in transactions involving relatively old buildings under 40 years old (representing 87.5% of total transactions in 2020 and 100.0% of total transactions in 2021)

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.