JR Ibusuki Makurazaki Line railway market report

JR Ibusuki Makurazaki Line Home market overview

The average price of JR Ibusuki Makurazaki Line (Kagoshima-Chuo to Makurazaki) Home, in Oct, 2018 to Dec, 2018 was 194,015 JPY/sq.m. The market value represents a decrease of 13,389 JPY (-6.5%) compared to 1 year ago and a transition to a bear market. 139 properties exchanged hands ( The market value represents an increase of 38 (+37.6%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 25.3 years old (a +21.4% increase compared to the 20.8 years old of last year.). The average size of the real estate was 279.1 sq.m (a +10.0% increase compared to the 253.8 sq.m of last year.). The average total floor space of the real estate was 196.7 sq.m (a +29.1% increase compared to the 152.4 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving total floor space for a general family households less than 100 sq.m, as well as a dramatic increase in transactions involving older buildings over 40 years old.

3 stations have experienced increased prices; 9 stations have experienced decreased prices. Market value of most stations decreased. Ibusuki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Ibusuki station, where prices have increased +48.8% compared to last year; a sq.m unit now costs 99,198 JPY/sq.m.

The top 2 stations has seen prices increase +31.5% (+31,834 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -39.5% (-68,613 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 2.3% of total transactions in 2017 and 4.6% of total transactions in 2018)
  • A slight increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 5.0% of total transactions in 2017 and 5.0% of total transactions in 2018)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 20.8 years old in 2017 and 25.3 years old in 2018; +21.4%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 19.3% of total transactions in 2017 and 25.2% of total transactions in 2018)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 33.0% of total transactions in 2017 and 37.4% of total transactions in 2018)

Home stations market overview

The average price of Jigennji Home, the highest market value along this railway was 255,072 JPY/sq.m. The market value represents an increase of 2,824 JPY (+1.1%) compared to 1 year ago and a transition to a slight market. 3 properties exchanged hands ( The market value represents a decrease of 3 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Yamakawa Home, the lowest market value along this railway was 22,449 JPY/sq.m. The market value represents a decrease of 11,301 JPY (-33.5%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

JR Ibusuki Makurazaki Line (Stations Home market overview)
JR Ibusuki Makurazaki LineThis year(2018)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Kagoshima-Chuo249,952 JPYsq.m
(27.861007827788647254sq.m)
218,814 JPYsq.m
(23.802739726027397199sq.m)
224,772 JPYsq.m
(22.61768368617684269sq.m)
Korimoto158,414 JPYsq.m
(24.268493150684932203sq.m)
260,065 JPYsq.m
(26.19921722113503202sq.m)
199,064 JPYsq.m
(24.77054794520548489sq.m)
Minamikagoshima157,830 JPYsq.m
(29.523287671232875305sq.m)
208,100 JPYsq.m
(23.34050880626223138sq.m)
264,700 JPYsq.m
(18.966575342465752236sq.m)
Usuki212,241 JPYsq.m
(18.219925280199252198sq.m)
215,302 JPYsq.m
(16.876103500761033194sq.m)
149,229 JPYsq.m
(27.64760273972603316sq.m)
Taniyama196,779 JPYsq.m
(17.621917808219177213sq.m)
258,936 JPYsq.m
(7.633561643835616168sq.m)
269,327 JPYsq.m
(11.539117199391171371sq.m)
Jigennji255,072 JPYsq.m
(11.427397260273972185sq.m)
252,249 JPYsq.m
(7.5917808219178085194sq.m)
288,744 JPYsq.m
(8.648401826484017163sq.m)
Sakanoue228,955 JPYsq.m
(9.509589041095891269sq.m)
265,635 JPYsq.m
(3.421917808219178168sq.m)
197,798 JPYsq.m
(13.763013698630138146sq.m)
Goino191,033 JPYsq.m
(5.757077625570776178sq.m)
213,632 JPYsq.m
(10.01027397260274555sq.m)
175,000 JPYsq.m
(16.264383561643836515sq.m)
Hirakawa-85,000 JPYsq.m
(34.778082191780825330sq.m)
-
Sesekushi---
Nakamyou---
Kiire78,317 JPYsq.m
(36.278082191780825302sq.m)
94,667 JPYsq.m
(32.775342465753425260sq.m)
111,111 JPYsq.m
(33.778082191780825390sq.m)
Maenohama---
Nukumi---
Satsumaimaizumi--108,571 JPYsq.m
(17.767123287671232570sq.m)
Miyagahama-27,273 JPYsq.m
(0.0590sq.m)
64,474 JPYsq.m
(26.77260273972603505sq.m)
Nigatsudenn95,000 JPYsq.m
(49.28630136986301825sq.m)
--
Ibusuki99,198 JPYsq.m
(34.27602739726027738sq.m)
66,667 JPYsq.m
(46.78630136986301370sq.m)
59,649 JPYsq.m
(38.78013698630137198sq.m)
Yamakawa22,449 JPYsq.m
(33.775342465753425600sq.m)
33,750 JPYsq.m
(44.78356164383562640sq.m)
17,708 JPYsq.m
(49.28767123287671520sq.m)
Ooyama27,327 JPYsq.m
(35.777168949771685605sq.m)
--
Nishiooyama---
Satsumakawashiri36,364 JPYsq.m
(41.78082191780822330sq.m)
--
Higashikaimonn---
Kaimonn---
IRino---
Ei---
Nishiei-9,333 JPYsq.m
(66.8220sq.m)
-
Goryou--
Ishikaki10,000 JPYsq.m
(39.78082191780822600sq.m)
-
Mizunarikawa16,667 JPYsq.m
(64.7972602739726590sq.m)
--
Eiookawa---
Matsugaura---
Satsumashioya98,947 JPYsq.m
(13.761643835616438530sq.m)
--
Shirasawa-19,020 JPYsq.m
(38.77945205479452710sq.m)
-
Satsumaitashiki---
Makurazaki53,524 JPYsq.m
(33.346771037181995187sq.m)
89,100 JPYsq.m
(37.77945205479452822sq.m)
112,176 JPYsq.m
(20.767808219178082455sq.m)

*Average unit prices per sq.m of Home 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.

Noteworthy stations

Ibusuki99,198 JPY/sq.m (+49% compared with the previous year)

The average price of Ibusuki Home was 99,198 JPY/sq.m. The market value represents an increase of 32,530 JPY (+48.8%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 3 (+300.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 34.3 years old (a -26.7% decrease compared to the 46.8 years old of last year.). The average size of the real estate was 737.5 sq.m (a +99.3% increase compared to the 370.0 sq.m of last year.). The average total floor space of the real estate was 272.5 sq.m (a +263.3% increase compared to the 75.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 46.8 years old in 2017 and 34.3 years old in 2018; -26.7%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 100.0% of total transactions in 2017 and 25.0% of total transactions in 2018)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 4.0 min in 2017 and 15.0 min in 2018; +275.0%)

Kagoshima-Chuo249,952 JPY/sq.m (+14% compared with the previous year)

The average price of Kagoshima-Chuo Home was 249,952 JPY/sq.m. The market value represents an increase of 31,137 JPY (+14.2%) compared to 1 year ago and a transition to a bull market. 58 properties exchanged hands ( The market value represents an increase of 23 (+65.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 27.9 years old (a +17.0% increase compared to the 23.8 years old of last year.). The average size of the real estate was 254.4 sq.m (a +28.0% increase compared to the 198.8 sq.m of last year.). The average total floor space of the real estate was 198.8 sq.m (a +33.9% increase compared to the 148.5 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 46.3 min in 2017 and 38.2 min in 2018; -17.4%)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 3.3% of total transactions in 2017 and 7.1% of total transactions in 2018)
  • An decrease in transactions involving relatively old buildings under 40 years old (representing 43.3% of total transactions in 2017 and 35.7% of total transactions in 2018)

Causes of price decreases

  • An increase in average age of the building (representing 23.8 years old in 2017 and 27.9 years old in 2018; +17.0%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 20.0% of total transactions in 2017 and 32.1% of total transactions in 2018)

Makurazaki53,524 JPY/sq.m (-40% compared with the previous year)

The average price of Makurazaki Home was 53,524 JPY/sq.m. The market value represents a decrease of 35,575 JPY (-39.9%) compared to 1 year ago and a transition to a dramatic market. 9 properties exchanged hands ( The market value represents an increase of 4 (+80.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 33.3 years old (a -11.7% decrease compared to the 37.8 years old of last year.). The average size of the real estate was 186.9 sq.m (a -77.3% decrease compared to the 822.0 sq.m of last year.). The average total floor space of the real estate was 109.3 sq.m (a -8.2% decrease compared to the 119.0 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 37.8 years old in 2017 and 33.3 years old in 2018; -11.7%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2017 and 42.9% of total transactions in 2018)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 15.4 min in 2017 and 19.1 min in 2018; +24.1%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 25.0% of total transactions in 2017 and 42.9% of total transactions in 2018)

Korimoto158,414 JPY/sq.m (-39% compared with the previous year)

The average price of Korimoto Home was 158,414 JPY/sq.m. The market value represents a decrease of 101,651 JPY (-39.1%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 4 (-44.4%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 24.3 years old (a -7.4% decrease compared to the 26.2 years old of last year.). The average size of the real estate was 203.0 sq.m (a +0.4% increase compared to the 202.2 sq.m of last year.). The average total floor space of the real estate was 301.2 sq.m (a +8.1% increase compared to the 278.6 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 14.7 min in 2017 and 12.2 min in 2018; -16.8%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 42.9% of total transactions in 2017 and 25.0% of total transactions in 2018)

Breakdown of each segment

Station:   Segment:

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