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 Apr, 2020 to Jun, 2020 was 202,446 JPY/sq.m. The market value represents an increase of 20,819 JPY (+11.5%) compared to 1 year ago and a transition to a bull market. 112 properties exchanged hands ( The market value represents a decrease of 10 (-8.2%) compared to 1 year ago and a transition to a bear market.).

The average age of the real estate was 22.4 years old (a -10.3% decrease compared to the 25.0 years old of last year.). The average size of the real estate was 274.3 sq.m (a +3.3% increase compared to the 265.6 sq.m of last year.). The average total floor space of the real estate was 162.9 sq.m (a -22.8% decrease compared to the 210.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance, as well as a dramatic increase in transactions involving total floor space for a general family households less than 100 sq.m.

5 stations have experienced increased prices; 7 stations have experienced decreased prices. Market value of most stations decreased. Korimoto, Minamikagoshima, Jigennji station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kiire station, where prices have increased +333.1% compared to last year; a sq.m unit now costs 256,073 JPY/sq.m.

The top 2 stations has seen prices increase +200.1% (+148,511 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -59.4% (-97,296 JPY/sq.m).

Cause of price increases

  • An decrease in average age of the building (representing 25.0 years old in 2019 and 22.4 years old in 2020; -10.3%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 27.2% of total transactions in 2019 and 35.6% of total transactions in 2020)
  • An decrease in transactions involving relatively old buildings under 40 years old (representing 41.2% of total transactions in 2019 and 35.6% of total transactions in 2020)

Causes of price decreases

  • A some decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 6.6% of total transactions in 2019 and 6.2% of total transactions in 2020)

Home stations market overview

The average price of Jigennji Home, the highest market value along this railway was 431,232 JPY/sq.m. The market value represents an increase of 151,022 JPY (+53.9%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 1 (+20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Ibusuki Home, the lowest market value along this railway was 30,423 JPY/sq.m. The market value represents a decrease of 35,893 JPY (-54.1%) compared to 1 year ago and a transition to a dramatic market. 3 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-Chuo196,088 JPYsq.m
(26.041722113502935200sq.m)
191,455 JPYsq.m
(27.155977584059777241sq.m)
200,559 JPYsq.m
(24.042876712328766185sq.m)
Korimoto265,256 JPYsq.m
(26.870684931506847226sq.m)
166,539 JPYsq.m
(31.872876712328768237sq.m)
263,931 JPYsq.m
(2.5034246575342465142sq.m)
Minamikagoshima249,105 JPYsq.m
(18.154033485540335155sq.m)
149,026 JPYsq.m
(36.942465753424656118sq.m)
185,356 JPYsq.m
(36.27632093933464234sq.m)
Usuki246,674 JPYsq.m
(15.262592202318231219sq.m)
255,308 JPYsq.m
(11.509246575342466194sq.m)
222,006 JPYsq.m
(17.263435194942044146sq.m)
Taniyama216,650 JPYsq.m
(8.858630136986301314sq.m)
224,059 JPYsq.m
(18.049510763209394380sq.m)
153,808 JPYsq.m
(25.34562697576396300sq.m)
Jigennji431,232 JPYsq.m
(13.861917808219179292sq.m)
280,211 JPYsq.m
(2.453150684931507164sq.m)
217,537 JPYsq.m
(17.263013698630136147sq.m)
Sakanoue136,108 JPYsq.m
(29.648287671232875166sq.m)
140,981 JPYsq.m
(22.078938356164382301sq.m)
201,909 JPYsq.m
(17.263318112633183329sq.m)
Goino86,301 JPYsq.m
(36.2767123287671251,300sq.m)
245,000 JPYsq.m
(3.7534246575342465200sq.m)
141,539 JPYsq.m
(11.66027397260274370sq.m)
Hirakawa---
Sesekushi---
Nakamyou---
Kiire256,073 JPYsq.m
(0.25205479452054796240sq.m)
59,130 JPYsq.m
(36.276712328767125250sq.m)
-
Maenohama64,000 JPYsq.m
(27.27123287671233250sq.m)
--
Nukumi---
Satsumaimaizumi8,333 JPYsq.m
(73.30410958904109500sq.m)
--
Miyagahama43,333 JPYsq.m
(20.265753424657536830sq.m)
--
Nigatsudenn77,718 JPYsq.m
(20.266666666666666680sq.m)
140,000 JPYsq.m
(30.27123287671233240sq.m)
-
Ibusuki30,423 JPYsq.m
(40.61369863013699215sq.m)
66,316 JPYsq.m
(39.278082191780825368sq.m)
51,712 JPYsq.m
(47.28356164383562200sq.m)
Yamakawa68,888 JPYsq.m
(22.268493150684932437sq.m)
--
Ooyama---
Nishiooyama---
Satsumakawashiri-12,000 JPYsq.m
(48.28493150684932350sq.m)
-
Higashikaimonn---
Kaimonn---
IRino---
Ei-115,000 JPYsq.m
(17.263013698630136400sq.m)
Nishiei--47,368 JPYsq.m
(43.28219178082192390sq.m)
Goryou-23,810 JPYsq.m
(20.265753424657536500sq.m)
-
Ishikaki---
Mizunarikawa---
Eiookawa---
Matsugaura--91,667 JPYsq.m
(39.27945205479452460sq.m)
Satsumashioya---
Shirasawa--9,000 JPYsq.m
(31.273972602739725310sq.m)
Satsumaitashiki122,222 JPYsq.m
(0.0890sq.m)
--
Makurazaki68,790 JPYsq.m
(30.941552511415523373sq.m)
93,372 JPYsq.m
(40.05662100456621238sq.m)
86,894 JPYsq.m
(27.26986301369863238sq.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

Kiire256,073 JPY/sq.m (+333% compared with the previous year)

The average price of Kiire Home was 256,073 JPY/sq.m. The market value represents an increase of 196,943 JPY (+333.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 0.3 years old (a -99.3% decrease compared to the 36.3 years old of last year.). The average size of the real estate was 240.0 sq.m (a -4.0% decrease compared to the 250.0 sq.m of last year.). The average total floor space of the real estate was 112.5 sq.m (a -2.2% decrease compared to the 115.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 36.3 years old in 2019 and 0.3 years old in 2020; -99.3%)
  • A dramatic decrease in average distance from the station (representing 10.0 min in 2019 and 7.0 min in 2020; -30.0%)

Minamikagoshima249,105 JPY/sq.m (+67% compared with the previous year)

The average price of Minamikagoshima Home was 249,105 JPY/sq.m. The market value represents an increase of 100,080 JPY (+67.2%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 7 (+233.3%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 18.2 years old (a -50.9% decrease compared to the 36.9 years old of last year.). The average size of the real estate was 155.0 sq.m (a +31.0% increase compared to the 118.3 sq.m of last year.). The average total floor space of the real estate was 134.0 sq.m (a -28.5% decrease compared to the 187.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 36.9 years old in 2019 and 18.2 years old in 2020; -50.9%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 66.7% of total transactions in 2019 and 22.2% of total transactions in 2020)

Goino86,301 JPY/sq.m (-65% compared with the previous year)

The average price of Goino Home was 86,301 JPY/sq.m. The market value represents a decrease of 158,699 JPY (-64.8%) 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 36.3 years old (a +866.5% increase compared to the 3.8 years old of last year.). The average size of the real estate was 1300.0 sq.m (a +550.0% increase compared to the 200.0 sq.m of last year.). The average total floor space of the real estate was 730.0 sq.m (a +630.0% increase compared to the 100.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 3.8 years old in 2019 and 36.3 years old in 2020; +866.5%)
  • A dramatic increase in average distance from the station (representing 11.0 min in 2019 and 29.0 min in 2020; +163.6%)

Ibusuki30,423 JPY/sq.m (-54% compared with the previous year)

The average price of Ibusuki Home was 30,423 JPY/sq.m. The market value represents a decrease of 35,893 JPY (-54.1%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 40.6 years old (a +3.4% increase compared to the 39.3 years old of last year.). The average size of the real estate was 215.0 sq.m (a -41.6% decrease compared to the 368.3 sq.m of last year.). The average total floor space of the real estate was 98.3 sq.m (a +3.5% increase compared to the 95.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2019 and 33.3% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 6.0 min in 2019 and 18.3 min in 2020; +205.6%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 50.0% of total transactions in 2019 and 66.7% of total transactions in 2020)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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