JR Tohoku Main Line Apartment market overview

The average price of a sq.m Apartment of JR Tohoku Main Line (Iwanuma to Iwakiri), in Jul, 2015 to Sep, 2015 was 250,417 JPY/sq.m. The market value represents a decrease of 19,777 JPY (-7.3%) compared to 1 year ago and a transition to a bear market. 17 properties exchanged hands ( The market value represents a decrease of 14 (-45.2%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 22.0 years old (a -3.7% decrease compared to the 22.8 years old of last year.). The average size of the real estate was 56.5 sq.m (a -9.1% decrease compared to the 62.1 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.

2 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased. Nagamachi station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Nagamachi station, where prices have increased +21.9% compared to last year; a sq.m unit now costs 253,333 JPY/sq.m.

The top 1 stations has seen prices increase +21.9% (+45,466 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -16.6% (-48,659 JPY/sq.m).


Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 51.7% of total transactions in 2014 and 75.0% of total transactions in 2015)

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 Nagamachi, the highest market value along this railway was 253,333 JPY/sq.m. The market value represents an increase of 45,466 JPY (+21.9%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands (It was the same as last year.).

The average price of a sq.m Apartment of Minamisenndai, the lowest market value along this railway was 240,481 JPY/sq.m. The market value represents an increase of 8,198 JPY (+3.5%) compared to 1 year ago and a transition to a some market. 3 properties exchanged hands ( The market value represents a decrease of 5 (-62.5%) compared to 1 year ago and a transition to a dramatic market.).

JR Tohoku Main Line (Stations Apartment market overview)
JR Tohoku Main LineThis year(2015)1 year ago2 years ago
Iwanuma---
Minamisenndai240,481 JPY (21.2Y/60.0sq.m)232,284 JPY (20.7Y/60.0sq.m)228,147 JPY (17.3Y/66.0sq.m)
Taishidou269,047 JPY (17.5Y/63.3sq.m)-272,884 JPY (9.8Y/68.8sq.m)
Nagamachi253,333 JPY (21.1Y/41.2sq.m)207,867 JPY (27.5Y/55.0sq.m)280,833 JPY (19.5Y/53.8sq.m)
Sendai245,024 JPY (25.2Y/60.7sq.m)293,683 JPY (23.3Y/63.9sq.m)258,845 JPY (22.0Y/54.0sq.m)
Higashisenndai-400,000 JPY (11.5Y/75.0sq.m)-
Iwakiri---
*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

Nagamachi253,333 JPY/sq.m (+22% compared with the previous year)

The average price of a sq.m Apartment of Nagamachi was 253,333 JPY/sq.m. The market value represents an increase of 45,466 JPY (+21.9%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 21.1 years old (a -23.5% decrease compared to the 27.5 years old of last year.). The average size of the real estate was 41.2 sq.m (a -25.0% decrease compared to the 55.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 27.5 years old in 2014 and 21.1 years old in 2015; -23.5%)
  • A dramatic decrease in average distance from the station (representing 8.8 min in 2014 and 4.3 min in 2015; -50.5%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 25.0% of total transactions in 2014 and 33.3% of total transactions in 2015)

Sendai245,024 JPY/sq.m (-17% compared with the previous year)

The average price of a sq.m Apartment of Sendai was 245,024 JPY/sq.m. The market value represents a decrease of 48,659 JPY (-16.6%) compared to 1 year ago and a transition to a weak market. 7 properties exchanged hands ( The market value represents a decrease of 11 (-61.1%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 25.2 years old (a +8.2% increase compared to the 23.3 years old of last year.). The average size of the real estate was 60.7 sq.m (a -5.0% decrease compared to the 63.9 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 21.0 min in 2014 and 29.0 min in 2015; +38.1%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 47.1% of total transactions in 2014 and 83.3% of total transactions in 2015)

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)