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 Jul, 2020 to Sep, 2020 was 192,611 JPY/sq.m. The market value represents a decrease of 36,619 JPY (-16.0%) compared to 1 year ago and a transition to a weak market. 122 properties exchanged hands ( The market value represents an increase of 2 (+1.7%) compared to 1 year ago and a transition to a slight market.).

The average age of the real estate was 21.6 years old (a -7.5% decrease compared to the 23.3 years old of last year.). The average size of the real estate was 245.5 sq.m (a -7.8% decrease compared to the 266.2 sq.m of last year.). The average total floor space of the real estate was 149.7 sq.m (a -32.3% decrease compared to the 221.1 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.

6 stations have experienced increased prices; 8 stations have experienced decreased prices. Market value of most stations decreased. Usuki 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 +283.4% compared to last year; a sq.m unit now costs 66,667 JPY/sq.m.

The top 2 stations has seen prices increase +215.7% (+46,933 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -68.3% (-32,927 JPY/sq.m).

Cause of price increases

  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 25.0% of total transactions in 2019 and 19.6% of total transactions in 2020)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 4.2% of total transactions in 2019 and 5.7% of total transactions in 2020)

Causes of price decreases

  • A some increase in transactions involving relatively old buildings under 40 years old (representing 33.0% of total transactions in 2019 and 34.8% of total transactions in 2020)
  • A dramatic decrease in transactions involving recently constructed buildings under 6 years old (representing 2.7% of total transactions in 2019 and 0.9% of total transactions in 2020)

Home stations market overview

The average price of Jigennji Home, the highest market value along this railway was 294,785 JPY/sq.m. The market value represents an increase of 26,855 JPY (+10.0%) compared to 1 year ago and a transition to a bull market. 9 properties exchanged hands ( The market value represents an increase of 1 (+12.5%) compared to 1 year ago and a transition to a bull market.).

The average price of Yamakawa Home, the lowest market value along this railway was 10,000 JPY/sq.m. The market value represents a decrease of 20,521 JPY (-67.2%) 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.).

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-Chuo192,226 JPYsq.m
(25.2162100456621164sq.m)
278,714 JPYsq.m
(25.26532366371206223sq.m)
192,591 JPYsq.m
(22.97175472928898181sq.m)
Korimoto242,633 JPYsq.m
(24.188127853881277102sq.m)
385,100 JPYsq.m
(22.017808219178082190sq.m)
270,989 JPYsq.m
(24.853424657534248211sq.m)
Minamikagoshima207,679 JPYsq.m
(35.52915851272016266sq.m)
251,286 JPYsq.m
(17.115068493150684116sq.m)
203,304 JPYsq.m
(21.518150684931506144sq.m)
Usuki200,429 JPYsq.m
(20.989524576954068225sq.m)
150,998 JPYsq.m
(33.150342465753425296sq.m)
187,242 JPYsq.m
(27.77260273972603214sq.m)
Taniyama252,717 JPYsq.m
(10.62949234488316195sq.m)
218,054 JPYsq.m
(14.584735812133072302sq.m)
219,919 JPYsq.m
(15.847945205479451246sq.m)
Jigennji294,785 JPYsq.m
(4.396042617960426149sq.m)
267,930 JPYsq.m
(10.081800391389432264sq.m)
344,444 JPYsq.m
(0.5041095890410959185sq.m)
Sakanoue133,206 JPYsq.m
(30.811741682974557490sq.m)
195,439 JPYsq.m
(21.671654373024236262sq.m)
197,566 JPYsq.m
(17.669336143308747375sq.m)
Goino130,000 JPYsq.m
(23.52054794520548470sq.m)
179,035 JPYsq.m
(17.013698630136986210sq.m)
91,213 JPYsq.m
(35.52785388127854318sq.m)
Hirakawa---
Sesekushi---
Nakamyou--242,105 JPYsq.m
(0.5041095890410959260sq.m)
Kiire65,217 JPYsq.m
(28.523287671232875370sq.m)
-
Maenohama---
Nukumi---
Satsumaimaizumi---
Miyagahama164,706 JPYsq.m
(24.52054794520548370sq.m)
-33,333 JPYsq.m
(37.52876712328767720sq.m)
Nigatsudenn20,000 JPYsq.m
(0.0880sq.m)
65,334 JPYsq.m
(39.53013698630137305sq.m)
124,005 JPYsq.m
(11.844748858447488378sq.m)
Ibusuki155,000 JPYsq.m
(9.512328767123288260sq.m)
168,526 JPYsq.m
(17.513698630136986320sq.m)
155,000 JPYsq.m
(37.02876712328767248sq.m)
Yamakawa10,000 JPYsq.m
(23.52054794520548270sq.m)
30,521 JPYsq.m
(35.02602739726027890sq.m)
-
Ooyama---
Nishiooyama---
Satsumakawashiri-6,250 JPYsq.m
(31.523287671232875240sq.m)
-
Higashikaimonn--43,158 JPYsq.m
(38.52876712328767640sq.m)
Kaimonn78,261 JPYsq.m
(7.50958904109589610sq.m)
--
IRino---
Ei---
Nishiei66,667 JPYsq.m
(26.523287671232875300sq.m)
17,386 JPYsq.m
(39.52876712328767595sq.m)
210,000 JPYsq.m
(-0.4958904109589041380sq.m)
Goryou---
Ishikaki133,333 JPYsq.m
(0.0500sq.m)
--
Mizunarikawa---
Eiookawa---
Matsugaura---
Satsumashioya3,143 JPYsq.m
(0.0390sq.m)
--
Shirasawa---
Satsumaitashiki--29,726 JPYsq.m
(28.523287671232875445sq.m)
Makurazaki74,732 JPYsq.m
(29.381996086105673453sq.m)
30,147 JPYsq.m
(45.534246575342465540sq.m)
144,146 JPYsq.m
(43.53333333333333375sq.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

Nishiei66,667 JPY/sq.m (+283% compared with the previous year)

The average price of Nishiei Home was 66,667 JPY/sq.m. The market value represents an increase of 49,280 JPY (+283.4%) 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 26.5 years old (a -32.9% decrease compared to the 39.5 years old of last year.). The average size of the real estate was 300.0 sq.m (a -49.6% decrease compared to the 595.0 sq.m of last year.). The average total floor space of the real estate was 60.0 sq.m (a -36.8% decrease compared to the 95.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 39.5 years old in 2019 and 26.5 years old in 2020; -32.9%)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 18.0 min in 2019 and 29.0 min in 2020; +61.1%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2019 and 100.0% of total transactions in 2020)

Makurazaki74,732 JPY/sq.m (+148% compared with the previous year)

The average price of Makurazaki Home was 74,732 JPY/sq.m. The market value represents an increase of 44,585 JPY (+147.9%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents an increase of 5 (+250.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 29.4 years old (a -35.5% decrease compared to the 45.5 years old of last year.). The average size of the real estate was 452.9 sq.m (a -16.1% decrease compared to the 540.0 sq.m of last year.). The average total floor space of the real estate was 153.6 sq.m (a +36.5% increase compared to the 112.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 45.5 years old in 2019 and 29.4 years old in 2020; -35.5%)
  • A dramatic decrease in average distance from the station (representing 47.5 min in 2019 and 24.6 min in 2020; -48.3%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 100.0% of total transactions in 2019 and 14.3% of total transactions in 2020)

Causes of price decreases

  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 50.0% of total transactions in 2019 and 14.3% of total transactions in 2020)

Nigatsudenn20,000 JPY/sq.m (-69% compared with the previous year)

The average price of Nigatsudenn Home was 20,000 JPY/sq.m. The market value represents a decrease of 45,334 JPY (-69.4%) 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 size of the real estate was 880.0 sq.m (a +188.5% increase compared to the 305.0 sq.m of last year.). The average total floor space of the real estate was 60.0 sq.m (a -38.5% decrease compared to the 97.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 13.0 min in 2019 and 6.0 min in 2020; -53.8%)

Yamakawa10,000 JPY/sq.m (-67% compared with the previous year)

The average price of Yamakawa Home was 10,000 JPY/sq.m. The market value represents a decrease of 20,521 JPY (-67.2%) 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 23.5 years old (a -32.8% decrease compared to the 35.0 years old of last year.). The average size of the real estate was 270.0 sq.m (a -69.7% decrease compared to the 890.0 sq.m of last year.). The average total floor space of the real estate was 100.0 sq.m (a -78.3% decrease compared to the 460.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 35.0 years old in 2019 and 23.5 years old in 2020; -32.8%)
  • An decrease in average distance from the station (representing 30.0 min in 2019 and 26.0 min in 2020; -13.3%)
  • 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)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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Utinokati Real estate media providing price quotes and price trends for condominiums, homes, land and rental properties in 250,000 locations nationwide, along more than 20,000 train lines and stations, as well as rent quotes and rent trends.
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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