Tohoku Shinkansen Apartment market overview

The average price of a sq.m Apartment of Tohoku Shinkansen (Sendai to Furukawa), in Apr, 2016 to Jun, 2016 was 297,515 JPY/sq.m. The market value represents a decrease of 8,797 JPY (-2.9%) compared to 1 year ago and a transition to a slight market. 15 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 22.9 years old (a -16.9% decrease compared to the 27.6 years old of last year.). The average size of the real estate was 87.7 sq.m (a +63.4% increase compared to the 53.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station.

1 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year.

The top 1 stations has seen prices increase +0.2% (+685 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -54.1% (-141,538 JPY/sq.m).


Cause of price increases

  • An decrease in average age of the building (representing 27.6 years old in 2015 and 22.9 years old in 2016; -16.9%)
  • A dramatic decrease in average distance from the station (representing 14.9 min in 2015 and 9.8 min in 2016; -34.1%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 6.7% of total transactions in 2015 and 26.7% of total transactions in 2016)

Breakdown of each segment

The table below shows Apartment dealt in Tohoku Shinkansen, 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 310,194 JPY/sq.m. The market value represents an increase of 685 JPY (+0.2%) compared to 1 year ago and a transition to a slight market. 14 properties exchanged hands (It was the same as last year.).

The average price of a sq.m Apartment of Furukawa, the lowest market value along this railway was 120,000 JPY/sq.m. The market value represents a decrease of 141,538 JPY (-54.1%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Apartment market overview)
Tohoku ShinkansenThis year(2016)1 year ago2 years ago
Sendai310,194 JPY (23.2Y/88.6sq.m)309,510 JPY (28.8Y/52.9sq.m)277,273 JPY (21.3Y/85.3sq.m)
Furukawa120,000 JPY (19.3Y/75.0sq.m)261,538 JPY (13.3Y/65.0sq.m)214,285 JPY (13.3Y/70.0sq.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

Sendai310,194 JPY/sq.m (+0% compared with the previous year)

The average price of a sq.m Apartment of Sendai was 310,194 JPY/sq.m. The market value represents an increase of 685 JPY (+0.2%) compared to 1 year ago and a transition to a slight market. 14 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 23.2 years old (a -19.4% decrease compared to the 28.8 years old of last year.). The average size of the real estate was 88.6 sq.m (a +67.6% increase compared to the 52.9 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 28.8 years old in 2015 and 23.2 years old in 2016; -19.4%)
  • A dramatic decrease in average distance from the station (representing 15.1 min in 2015 and 9.1 min in 2016; -40.1%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 7.1% of total transactions in 2015 and 28.6% of total transactions in 2016)

Furukawa120,000 JPY/sq.m (-54% compared with the previous year)

The average price of a sq.m Apartment of Furukawa was 120,000 JPY/sq.m. The market value represents a decrease of 141,538 JPY (-54.1%) 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 19.3 years old (a +45.3% increase compared to the 13.3 years old of last year.). The average size of the real estate was 75.0 sq.m (a +15.4% increase compared to the 65.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 13.3 years old in 2015 and 19.3 years old in 2016; +45.3%)
  • A dramatic increase in average distance from the station (representing 11.0 min in 2015 and 20.0 min in 2016; +81.8%)

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)