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 Jan, 2018 to Dec, 2018 was 196,755 JPY/sq.m. The market value represents a decrease of 7,428 JPY (-3.6%) compared to 1 year ago and a transition to a some market. 477 properties exchanged hands ( The market value represents an increase of 53 (+12.5%) compared to 1 year ago and a transition to a bull market.).

The average age of the real estate was 23.5 years old (a +10.1% increase compared to the 21.3 years old of last year.). The average size of the real estate was 262.3 sq.m (a +6.7% increase compared to the 245.8 sq.m of last year.). The average total floor space of the real estate was 196.1 sq.m (a +18.5% increase compared to the 165.6 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving very large total floor space more than 200 sq.m, as well as an decrease in transactions involving relatively large total floor space more than 100 sq.m.

9 stations have experienced increased prices; 13 stations have experienced decreased prices. Market value of most stations decreased. Ibusuki, Satsumakawashiri, Matsugaura, Makurazaki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Nishiei station, where prices have increased +449.5% compared to last year; a sq.m unit now costs 128,684 JPY/sq.m.

The top 2 stations has seen prices increase +441.0% (+98,278 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -74.1% (-96,555 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 1.3% of total transactions in 2017 and 2.0% of total transactions in 2018)

Causes of price decreases

  • An increase in average age of the building (representing 21.3 years old in 2017 and 23.5 years old in 2018; +10.1%)
  • An increase in transactions involving older buildings over 40 years old (representing 20.0% of total transactions in 2017 and 23.8% of total transactions in 2018)
  • An decrease in transactions involving nearly new buildings under 3 years old (representing 28.3% of total transactions in 2017 and 24.9% of total transactions in 2018)

Home stations market overview

The average price of Jigennji Home, the highest market value along this railway was 250,977 JPY/sq.m. The market value represents an increase of 4,899 JPY (+2.0%) compared to 1 year ago and a transition to a slight market. 17 properties exchanged hands ( The market value represents a decrease of 5 (-22.7%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Shirasawa Home, the lowest market value along this railway was 9,000 JPY/sq.m. The market value represents a decrease of 10,361 JPY (-53.5%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

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-Chuo221,934 JPYsq.m
(25.417107721046076215sq.m)
225,168 JPYsq.m
(25.68351014522608205sq.m)
229,186 JPYsq.m
(24.776006641760066255sq.m)
Korimoto237,374 JPYsq.m
(21.17404470079308183sq.m)
249,662 JPYsq.m
(26.03330930064888190sq.m)
200,667 JPYsq.m
(25.48473581213307265sq.m)
Minamikagoshima182,118 JPYsq.m
(28.371945205479452267sq.m)
204,881 JPYsq.m
(24.54272667971298175sq.m)
200,918 JPYsq.m
(28.141870160810004326sq.m)
Usuki214,562 JPYsq.m
(20.24187866927593197sq.m)
219,541 JPYsq.m
(15.648688845401173239sq.m)
210,580 JPYsq.m
(21.199501867995018258sq.m)
Taniyama199,273 JPYsq.m
(18.139606908874327264sq.m)
235,575 JPYsq.m
(11.439605863975006223sq.m)
231,663 JPYsq.m
(13.144171620573793302sq.m)
Jigennji250,977 JPYsq.m
(10.743916196615633161sq.m)
246,078 JPYsq.m
(9.520174346201744176sq.m)
234,069 JPYsq.m
(14.60808871493803272sq.m)
Sakanoue227,227 JPYsq.m
(15.482648401826484369sq.m)
208,534 JPYsq.m
(10.133958183129057209sq.m)
192,076 JPYsq.m
(15.725944375259443169sq.m)
Goino172,403 JPYsq.m
(12.877625570776255314sq.m)
193,511 JPYsq.m
(19.34946727549467454sq.m)
93,980 JPYsq.m
(28.226899128268993398sq.m)
Hirakawa-198,056 JPYsq.m
(17.64109589041096285sq.m)
-
Sesekushi-45,455 JPYsq.m
(28.27123287671233200sq.m)
-
Nakamyou242,105 JPYsq.m
(7.883561643835616275sq.m)
-123,908 JPYsq.m
(35.52602739726027260sq.m)
Kiire91,430 JPYsq.m
(36.526940639269405511sq.m)
106,593 JPYsq.m
(25.894520547945206360sq.m)
102,689 JPYsq.m
(26.59256360078278349sq.m)
Maenohama-82,000 JPYsq.m
(11.258904109589041245sq.m)
-
Nukumi-6,250 JPYsq.m
(38.27945205479452150sq.m)
-
Satsumaimaizumi48,276 JPYsq.m
(0.0650sq.m)
60,714 JPYsq.m
(23.268493150684932490sq.m)
108,571 JPYsq.m
(17.767123287671232570sq.m)
Miyagahama55,868 JPYsq.m
(32.14794520547945770sq.m)
221,478 JPYsq.m
(21.767123287671232920sq.m)
64,474 JPYsq.m
(26.77260273972603505sq.m)
Nigatsudenn112,403 JPYsq.m
(26.821369863013697557sq.m)
21,114 JPYsq.m
(43.1561643835616451,045sq.m)
61,692 JPYsq.m
(36.02602739726027365sq.m)
Ibusuki100,657 JPYsq.m
(40.02954990215264364sq.m)
52,304 JPYsq.m
(39.88649706457926262sq.m)
76,985 JPYsq.m
(31.933748443337485316sq.m)
Yamakawa22,449 JPYsq.m
(33.775342465753425600sq.m)
37,596 JPYsq.m
(38.77899543378996385sq.m)
52,384 JPYsq.m
(47.412328767123284382sq.m)
Ooyama24,296 JPYsq.m
(34.83835616438356500sq.m)
26,667 JPYsq.m
(25.268493150684932520sq.m)
-
Nishiooyama---
Satsumakawashiri36,364 JPYsq.m
(41.78082191780822330sq.m)
27,778 JPYsq.m
(43.28219178082192340sq.m)
-
Higashikaimonn43,158 JPYsq.m
(38.52876712328767640sq.m)
--
Kaimonn123,077 JPYsq.m
(46.03013698630137240sq.m)
-4,000 JPYsq.m
(0.0540sq.m)
IRino---
Ei115,000 JPYsq.m
(17.263013698630136400sq.m)
33,333 JPYsq.m
(65.2958904109589670sq.m)
-
Nishiei128,684 JPYsq.m
(21.393150684931506385sq.m)
23,416 JPYsq.m
(61.17123287671233270sq.m)
60,000 JPYsq.m
(61.295890410958904730sq.m)
Goryou--
Ishikaki10,000 JPYsq.m
(39.78082191780822600sq.m)
37,500 JPYsq.m
(17.263013698630136800sq.m)
46,442 JPYsq.m
(19.016438356164382310sq.m)
Mizunarikawa16,667 JPYsq.m
(64.7972602739726590sq.m)
--
Eiookawa-58,656 JPYsq.m
(24.7684931506849321,135sq.m)
-
Matsugaura91,667 JPYsq.m
(39.27945205479452460sq.m)
46,897 JPYsq.m
(32.02191780821918470sq.m)
-
Satsumashioya98,947 JPYsq.m
(13.761643835616438530sq.m)
--
Shirasawa9,000 JPYsq.m
(31.273972602739725310sq.m)
19,361 JPYsq.m
(34.02602739726027667sq.m)
-
Satsumaitashiki29,726 JPYsq.m
(28.523287671232875445sq.m)
--
Makurazaki75,381 JPYsq.m
(37.07414383561644229sq.m)
60,546 JPYsq.m
(39.43350895679663451sq.m)
84,507 JPYsq.m
(27.997534246575345322sq.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

Nishiei128,684 JPY/sq.m (+450% compared with the previous year)

The average price of Nishiei Home was 128,684 JPY/sq.m. The market value represents an increase of 105,268 JPY (+449.5%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 21.4 years old (a -65.0% decrease compared to the 61.2 years old of last year.). The average size of the real estate was 385.0 sq.m (a +42.6% increase compared to the 270.0 sq.m of last year.). The average total floor space of the real estate was 97.5 sq.m (a +25.8% increase compared to the 77.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 61.2 years old in 2017 and 21.4 years old in 2018; -65.0%)
  • A dramatic decrease in average distance from the station (representing 60.0 min in 2017 and 8.0 min in 2018; -86.7%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 100.0% of total transactions in 2017 and 50.0% of total transactions in 2018)

Nigatsudenn112,403 JPY/sq.m (+432% compared with the previous year)

The average price of Nigatsudenn Home was 112,403 JPY/sq.m. The market value represents an increase of 91,289 JPY (+432.4%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 3 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 26.8 years old (a -37.9% decrease compared to the 43.2 years old of last year.). The average size of the real estate was 557.0 sq.m (a -46.7% decrease compared to the 1045.0 sq.m of last year.). The average total floor space of the real estate was 120.0 sq.m (a -68.0% decrease compared to the 375.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 43.2 years old in 2017 and 26.8 years old in 2018; -37.9%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2017 and 20.0% of total transactions in 2018)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 14.5 min in 2017 and 21.0 min in 2018; +44.8%)

Miyagahama55,868 JPY/sq.m (-75% compared with the previous year)

The average price of Miyagahama Home was 55,868 JPY/sq.m. The market value represents a decrease of 165,611 JPY (-74.8%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 1 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 32.1 years old (a +47.7% increase compared to the 21.8 years old of last year.). The average size of the real estate was 770.0 sq.m (a -16.3% decrease compared to the 920.0 sq.m of last year.). The average total floor space of the real estate was 242.5 sq.m (a +39.9% increase compared to the 173.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 35.3 min in 2017 and 24.5 min in 2018; -30.7%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2017 and 50.0% of total transactions in 2018)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 21.8 years old in 2017 and 32.1 years old in 2018; +47.7%)

Ishikaki10,000 JPY/sq.m (-73% compared with the previous year)

The average price of Ishikaki Home was 10,000 JPY/sq.m. The market value represents a decrease of 27,500 JPY (-73.3%) 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 39.8 years old (a +130.4% increase compared to the 17.3 years old of last year.). The average size of the real estate was 600.0 sq.m (a -25.0% decrease compared to the 800.0 sq.m of last year.). The average total floor space of the real estate was 300.0 sq.m (a +50.0% increase compared to the 200.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 17.3 years old in 2017 and 39.8 years old in 2018; +130.4%)
  • A dramatic increase in average distance from the station (representing 60.0 min in 2017 and 120.0 min in 2018; +100.0%)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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Totinokati Real estate media providing public land prices, roadside land prices (inheritance tax assessed values), and property tax assessed values for 10,000 areas and station areas nationwide, based on the Ministry of Land, Infrastructure, Transport and Tourism's public notice of land prices.
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