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, 2020 to Mar, 2020 was 228,442 JPY/sq.m. The market value represents an increase of 39,127 JPY (+20.7%) compared to 1 year ago and a transition to a dramatic market. 139 properties exchanged hands ( The market value represents an increase of 29 (+26.4%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 19.4 years old (a -10.2% decrease compared to the 21.6 years old of last year.). The average size of the real estate was 233.8 sq.m (a -5.0% decrease compared to the 246.0 sq.m of last year.). The average total floor space of the real estate was 202.6 sq.m (a +18.4% increase compared to the 171.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving nearly new buildings under 3 years old, as well as a dramatic increase in transactions involving total floor space for a general family households less than 100 sq.m.

12 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased. Kagoshima-Chuo, Nigatsudenn station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Yamakawa station, where prices have increased +329.7% compared to last year; a sq.m unit now costs 41,667 JPY/sq.m.

The top 2 stations has seen prices increase +294.6% (+67,542 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -31.7% (-38,975 JPY/sq.m).

Cause of price increases

  • An decrease in average age of the building (representing 21.6 years old in 2019 and 19.4 years old in 2020; -10.2%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 32.7% of total transactions in 2019 and 42.2% of total transactions in 2020)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 30.8% of total transactions in 2019 and 23.0% of total transactions in 2020)

Causes of price decreases

  • A slight decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 3.6% of total transactions in 2019 and 3.6% of total transactions in 2020)

Home stations market overview

The average price of Jigennji Home, the highest market value along this railway was 328,454 JPY/sq.m. The market value represents an increase of 35,023 JPY (+11.9%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands ( The market value represents an increase of 2 (+66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Nigatsudenn Home, the lowest market value along this railway was 18,889 JPY/sq.m. The market value represents an increase of 5,556 JPY (+41.7%) 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(2020)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Kagoshima-Chuo254,930 JPYsq.m
(18.079817351598173205sq.m)
193,358 JPYsq.m
(23.35558146313028242sq.m)
239,225 JPYsq.m
(25.964888248017303228sq.m)
Korimoto251,847 JPYsq.m
(15.67945205479452197sq.m)
231,818 JPYsq.m
(13.508219178082191218sq.m)
234,266 JPYsq.m
(29.21972602739726173sq.m)
Minamikagoshima240,462 JPYsq.m
(21.015068493150686178sq.m)
206,084 JPYsq.m
(22.51461187214612183sq.m)
181,759 JPYsq.m
(23.516438356164382502sq.m)
Usuki257,382 JPYsq.m
(14.009741248097413178sq.m)
216,964 JPYsq.m
(16.343835616438355203sq.m)
229,292 JPYsq.m
(20.313424657534245237sq.m)
Taniyama248,369 JPYsq.m
(20.403805175038052298sq.m)
222,305 JPYsq.m
(13.932139093782931170sq.m)
246,550 JPYsq.m
(9.720939334637965311sq.m)
Jigennji328,454 JPYsq.m
(19.413698630136988141sq.m)
293,431 JPYsq.m
(0.33333333333333337120sq.m)
272,366 JPYsq.m
(4.503196347031964160sq.m)
Sakanoue237,494 JPYsq.m
(7.947139403706688241sq.m)
221,202 JPYsq.m
(18.1545988258317189sq.m)
279,041 JPYsq.m
(15.76027397260274476sq.m)
Goino211,176 JPYsq.m
(16.01095890410959210sq.m)
205,873 JPYsq.m
(14.009132420091323487sq.m)
250,188 JPYsq.m
(2.752054794520548336sq.m)
Hirakawa---
Sesekushi--
Nakamyou---
Kiire--130,769 JPYsq.m
(37.02465753424657165sq.m)
Maenohama---
Nukumi---
Satsumaimaizumi--48,276 JPYsq.m
(0.0650sq.m)
Miyagahama--63,379 JPYsq.m
(30.35433789954338787sq.m)
Nigatsudenn18,889 JPYsq.m
(30.02191780821918155sq.m)
13,333 JPYsq.m
(48.032876712328765490sq.m)
-
Ibusuki43,062 JPYsq.m
(31.02191780821918430sq.m)
126,316 JPYsq.m
(30.019178082191782230sq.m)
92,778 JPYsq.m
(43.03013698630137180sq.m)
Yamakawa9,696 JPYsq.m
(39.52602739726027375sq.m)
-
Ooyama--15,200 JPYsq.m
(32.02191780821918290sq.m)
Nishiooyama---
Satsumakawashiri-40,000 JPYsq.m
(26.016438356164382270sq.m)
-
Higashikaimonn---
Kaimonn142,857 JPYsq.m
(7.005479452054795520sq.m)
39,742 JPYsq.m
(35.52328767123288260sq.m)
123,077 JPYsq.m
(46.03013698630137240sq.m)
IRino---
Ei---
Nishiei---
Goryou---
Ishikaki---
Mizunarikawa---
Eiookawa-21,600 JPYsq.m
(48.0328767123287651,300sq.m)
-
Matsugaura---
Satsumashioya---
Shirasawa6,897 JPYsq.m
(47.032876712328765680sq.m)
--
Satsumaitashiki9,524 JPYsq.m
(39.02739726027397570sq.m)
--
Makurazaki51,926 JPYsq.m
(45.53219178082192276sq.m)
18,906 JPYsq.m
(47.36529680365297138sq.m)
25,706 JPYsq.m
(60.0397260273972690.0sq.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

Yamakawa41,667 JPY/sq.m (+330% compared with the previous year)

The average price of Yamakawa Home was 41,667 JPY/sq.m. The market value represents an increase of 31,970 JPY (+329.7%) 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 55.0 years old (a +39.2% increase compared to the 39.5 years old of last year.). The average total floor space of the real estate was 360.0 sq.m (a +29.7% increase compared to the 277.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 30.0 min in 2019 and 14.0 min in 2020; -53.3%)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 39.5 years old in 2019 and 55.0 years old in 2020; +39.2%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 50.0% of total transactions in 2019 and 100.0% of total transactions in 2020)

Kaimonn142,857 JPY/sq.m (+259% compared with the previous year)

The average price of Kaimonn Home was 142,857 JPY/sq.m. The market value represents an increase of 103,114 JPY (+259.5%) 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 7.0 years old (a -80.3% decrease compared to the 35.5 years old of last year.). The average size of the real estate was 520.0 sq.m (a +100.0% increase compared to the 260.0 sq.m of last year.). The average total floor space of the real estate was 105.0 sq.m (a +27.3% increase compared to the 82.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 35.5 years old in 2019 and 7.0 years old in 2020; -80.3%)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 6.5 min in 2019 and 19.0 min in 2020; +192.3%)

Ibusuki43,062 JPY/sq.m (-66% compared with the previous year)

The average price of Ibusuki Home was 43,062 JPY/sq.m. The market value represents a decrease of 83,254 JPY (-65.9%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 31.0 years old (a +3.3% increase compared to the 30.0 years old of last year.). The average size of the real estate was 430.0 sq.m (a +87.0% increase compared to the 230.0 sq.m of last year.). The average total floor space of the real estate was 102.5 sq.m (a +7.9% increase compared to the 95.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 30.0 min in 2019 and 25.7 min in 2020; -14.4%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2019 and 100.0% of total transactions in 2020)

Goino211,176 JPY/sq.m (+3% compared with the previous year)

The average price of Goino Home was 211,176 JPY/sq.m. The market value represents an increase of 5,304 JPY (+2.6%) compared to 1 year ago and a transition to a slight market. 2 properties exchanged hands ( The market value represents a decrease of 1 (-33.3%) 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 +14.3% increase compared to the 14.0 years old of last year.). The average size of the real estate was 210.0 sq.m (a -56.8% decrease compared to the 486.7 sq.m of last year.). The average total floor space of the real estate was 92.5 sq.m (a -39.7% decrease compared to the 153.3 sq.m of last year.).

Causes of price decreases

  • An increase in average age of the building (representing 14.0 years old in 2019 and 16.0 years old in 2020; +14.3%)
  • A dramatic increase in average distance from the station (representing 11.3 min in 2019 and 15.0 min in 2020; +32.4%)
  • A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 66.7% of total transactions in 2019 and 50.0% of total transactions in 2020)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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