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, 2017 to Jun, 2017 was 316,667 JPY/sq.m. The market value represents an increase of 48,412 JPY (+18.0%) compared to 1 year ago and a transition to a bull market. 9 properties exchanged hands ( The market value represents a decrease of 65 (-87.8%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 24.6 years old (a +7.5% increase compared to the 22.9 years old of last year.). The average size of the real estate was 56.1 sq.m (a -15.2% decrease compared to the 66.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving new buildings under 10 years old, as well as a dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station.

3 stations have experienced increased prices; 2 stations have experienced decreased prices. The overall trend was the same as last year. Sendai 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 +181.0% compared to last year; a sq.m unit now costs 309,090 JPY/sq.m.

The top 1 stations has seen prices increase +181.0% (+199,090 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -86.4% (-263,325 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.9 min in 2016 and 9.0 min in 2017; -52.4%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 20.5% of total transactions in 2016 and 33.3% of total transactions in 2017)
  • A some decrease in transactions involving relatively old buildings under 40 years old (representing 58.3% of total transactions in 2016 and 55.6% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 5.6% of total transactions in 2016 and 11.1% of total transactions in 2017)

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 Sendai, the highest market value along this railway was 410,666 JPY/sq.m. The market value represents an increase of 134,467 JPY (+48.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 33 (-86.8%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Nagamachi, the lowest market value along this railway was 41,428 JPY/sq.m. The market value represents a decrease of 263,325 JPY (-86.4%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 13 (-92.9%) 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(2017)1 year ago2 years ago
Iwanuma---
Minamisenndai246,153 JPY (23.0Y/65.0sq.m)233,741 JPY (20.5Y/63.9sq.m)238,083 JPY (19.7Y/64.1sq.m)
Taishidou-272,610 JPY (18.1Y/71.0sq.m)269,064 JPY (17.2Y/65.8sq.m)
Nagamachi41,428 JPY (16.0Y/70.0sq.m)304,753 JPY (21.8Y/60.4sq.m)265,688 JPY (21.1Y/59.2sq.m)
Sendai410,666 JPY (27.4Y/51.0sq.m)276,199 JPY (24.0Y/68.8sq.m)296,406 JPY (23.8Y/57.8sq.m)
Higashisenndai309,090 JPY (21.0Y/55.0sq.m)110,000 JPY (38.2Y/62.5sq.m)191,968 JPY (24.1Y/61.2sq.m)
Iwakiri200,000 JPY (24.0Y/60.0sq.m)233,333 JPY (23.3Y/60.0sq.m)258,333 JPY (15.4Y/75.0sq.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

Higashisenndai309,090 JPY/sq.m (+181% compared with the previous year)

The average price of a sq.m Apartment of Higashisenndai was 309,090 JPY/sq.m. The market value represents an increase of 199,090 JPY (+181.0%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.0 years old (a -44.9% decrease compared to the 38.2 years old of last year.). The average size of the real estate was 55.0 sq.m (a -12.0% decrease compared to the 62.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 38.2 years old in 2016 and 21.0 years old in 2017; -44.9%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2016 and 100.0% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 4.5 min in 2016 and 22.0 min in 2017; +388.9%)

Nagamachi41,428 JPY/sq.m (-86% compared with the previous year)

The average price of a sq.m Apartment of Nagamachi was 41,428 JPY/sq.m. The market value represents a decrease of 263,325 JPY (-86.4%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 13 (-92.9%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 16.0 years old (a -26.6% decrease compared to the 21.8 years old of last year.). The average size of the real estate was 70.0 sq.m (a +16.0% increase compared to the 60.4 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 21.8 years old in 2016 and 16.0 years old in 2017; -26.6%)

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)