JR Tohoku Main Line Apartment market overview

The average price of a sq.m Apartment of JR Tohoku Main Line (Iwanuma to Iwakiri), in Jan, 2014 to Dec, 2014 was 264,176 JPY/sq.m. The market value represents an increase of 20,654 JPY (+8.5%) compared to 1 year ago and a transition to a strong market. 110 properties exchanged hands ( The market value represents a decrease of 53 (-32.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.7 years old (a +12.5% increase compared to the 19.3 years old of last year.). The average size of the real estate was 65.0 sq.m (a +4.4% increase compared to the 62.3 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving older buildings over 40 years old, as well as a dramatic increase in transactions involving new buildings under 10 years old.

3 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Higashisenndai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Higashisenndai station, where prices have increased +85.5% compared to last year; a sq.m unit now costs 400,000 JPY/sq.m.

The top 1 stations has seen prices increase +85.5% (+184,384 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -0.9% (-1,998 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 20.6 min in 2013 and 18.4 min in 2014; -10.3%)
  • A slight increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 9.9% of total transactions in 2013 and 10.1% of total transactions in 2014)

Causes of price decreases

  • An increase in average age of the building (representing 19.3 years old in 2013 and 21.7 years old in 2014; +12.5%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 1.3% of total transactions in 2013 and 4.9% of total transactions in 2014)
  • A some increase in transactions involving relatively old buildings under 40 years old (representing 42.9% of total transactions in 2013 and 46.1% of total transactions in 2014)

Breakdown of each segment

The table below shows Apartment dealt in JR Tohoku Main Line, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

Top

Apartment stations market overview

The average price of a sq.m Apartment of Higashisenndai, the highest market value along this railway was 400,000 JPY/sq.m. The market value represents an increase of 184,384 JPY (+85.5%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 5 (-83.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Minamisenndai, the lowest market value along this railway was 226,744 JPY/sq.m. The market value represents a decrease of 1,998 JPY (-0.9%) compared to 1 year ago and a transition to a slight market. 25 properties exchanged hands ( The market value represents an increase of 2 (+8.7%) compared to 1 year ago and a transition to a strong market.).

JR Tohoku Main Line (Stations Apartment market overview)
JR Tohoku Main LineThis year(2014)1 year ago2 years ago
Iwanuma---
Minamisenndai226,744 JPY (19.5Y/61.8sq.m)228,742 JPY (16.6Y/66.5sq.m)200,203 JPY (14.8Y/68.6sq.m)
Taishidou-265,010 JPY (13.6Y/65.5sq.m)197,972 JPY (16.7Y/61.8sq.m)
Nagamachi244,281 JPY (23.8Y/61.7sq.m)243,873 JPY (20.1Y/62.4sq.m)202,634 JPY (20.6Y/70.0sq.m)
Sendai278,602 JPY (22.3Y/66.6sq.m)246,289 JPY (20.4Y/60.6sq.m)214,187 JPY (21.1Y/60.0sq.m)
Higashisenndai400,000 JPY (11.5Y/75.0sq.m)215,616 JPY (14.0Y/70.0sq.m)203,084 JPY (14.5Y/71.0sq.m)
Iwakiri--261,538 JPY (5.5Y/65.0sq.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.
Top

Noteworthy stations

Higashisenndai400,000 JPY/sq.m (+86% compared with the previous year)

The average price of a sq.m Apartment of Higashisenndai was 400,000 JPY/sq.m. The market value represents an increase of 184,384 JPY (+85.5%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 5 (-83.3%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 11.5 years old (a -17.8% decrease compared to the 14.0 years old of last year.). The average size of the real estate was 75.0 sq.m (a +7.1% increase compared to the 70.0 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 14.0 years old in 2013 and 11.5 years old in 2014; -17.8%)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.0 min in 2013 and 24.0 min in 2014; +118.2%)

Minamisenndai226,744 JPY/sq.m (-1% compared with the previous year)

The average price of a sq.m Apartment of Minamisenndai was 226,744 JPY/sq.m. The market value represents a decrease of 1,998 JPY (-0.9%) compared to 1 year ago and a transition to a slight market. 25 properties exchanged hands ( The market value represents an increase of 2 (+8.7%) compared to 1 year ago and a transition to a strong market.).

The average age of the real estate was 19.5 years old (a +17.6% increase compared to the 16.6 years old of last year.). The average size of the real estate was 61.8 sq.m (a -7.1% decrease compared to the 66.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.7 min in 2013 and 12.8 min in 2014; -31.5%)

Causes of price decreases

  • An increase in average age of the building (representing 16.6 years old in 2013 and 19.5 years old in 2014; +17.6%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 5.9% of total transactions in 2013 and 36.4% of total transactions in 2014)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (https://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)