Tohoku Shinkansen Apartment market overview

The average price of a sq.m Apartment of Tohoku Shinkansen (Sendai to Furukawa), in Jan, 2017 to Jun, 2017 was 358,119 JPY/sq.m. The market value represents an increase of 91,175 JPY (+34.2%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents a decrease of 34 (-85.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 26.2 years old (a +9.6% increase compared to the 23.9 years old of last year.). The average size of the real estate was 53.3 sq.m (a -22.0% decrease compared to the 68.4 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.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. Sendai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Sendai station, where prices have increased +48.7% compared to last year; a sq.m unit now costs 410,666 JPY/sq.m.

The top 1 stations has seen prices increase +48.7% (+134,467 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +4.7% (+4,273 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 26.6 min in 2016 and 10.2 min in 2017; -61.9%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 17.5% 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 55.3% of total transactions in 2016 and 50.0% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 7.9% of total transactions in 2016 and 16.7% of total transactions in 2017)

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 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 Furukawa, the lowest market value along this railway was 95,384 JPY/sq.m. The market value represents an increase of 4,273 JPY (+4.7%) compared to 1 year ago and a transition to a some 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.).

Tohoku Shinkansen (Stations Apartment market overview)
Tohoku ShinkansenThis year(2017)1 year ago2 years ago
Sendai410,666 JPY (27.4Y/51.0sq.m)276,199 JPY (24.0Y/68.8sq.m)296,406 JPY (23.8Y/57.8sq.m)
Furukawa95,384 JPY (20.0Y/65.0sq.m)91,111 JPY (22.1Y/60.0sq.m)177,331 JPY (18.4Y/66.7sq.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

Sendai410,666 JPY/sq.m (+49% compared with the previous year)

The average price of a sq.m Apartment of Sendai 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 age of the real estate was 27.4 years old (a +14.3% increase compared to the 24.0 years old of last year.). The average size of the real estate was 51.0 sq.m (a -25.9% decrease compared to the 68.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 26.7 min in 2016 and 8.2 min in 2017; -69.3%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 18.4% of total transactions in 2016 and 40.0% of total transactions in 2017)

Causes of price decreases

  • An increase in average age of the building (representing 24.0 years old in 2016 and 27.4 years old in 2017; +14.3%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 8.3% of total transactions in 2016 and 20.0% of total transactions in 2017)

Furukawa95,384 JPY/sq.m (+5% compared with the previous year)

The average price of a sq.m Apartment of Furukawa was 95,384 JPY/sq.m. The market value represents an increase of 4,273 JPY (+4.7%) compared to 1 year ago and a transition to a some 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 20.0 years old (a -9.6% decrease compared to the 22.1 years old of last year.). The average size of the real estate was 65.0 sq.m (a +8.3% increase compared to the 60.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 25.0 min in 2016 and 20.0 min in 2017; -20.0%)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2016 and 100.0% of total transactions in 2017)

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)