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, 2020 to Dec, 2020 was 196,931 JPY/sq.m. The market value represents a decrease of 14,096 JPY (-6.7%) compared to 1 year ago and a transition to a bear market. 115 properties exchanged hands ( The market value represents a decrease of 6 (-5.0%) compared to 1 year ago and a transition to a some market.).

The average age of the real estate was 23.9 years old (a +21.0% increase compared to the 19.7 years old of last year.). The average size of the real estate was 297.7 sq.m (a +4.6% increase compared to the 284.7 sq.m of last year.). The average total floor space of the real estate was 188.4 sq.m (a +7.1% increase compared to the 175.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively new buildings under 20 years old, as well as a dramatic increase in transactions involving older buildings over 40 years old.

6 stations have experienced increased prices; 6 stations have experienced decreased prices. Market value of most stations decreased. Kagoshima-Chuo, Korimoto, Minamikagoshima, Goino station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Minamikagoshima station, where prices have increased +36.1% compared to last year; a sq.m unit now costs 318,519 JPY/sq.m.

The top 2 stations has seen prices increase +35.8% (+64,304 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -73.8% (-98,082 JPY/sq.m).

Cause of price increases

  • A dramatic 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 2019 and 8.7% of total transactions in 2020)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 30.4% of total transactions in 2019 and 23.4% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 19.7 years old in 2019 and 23.9 years old in 2020; +21.0%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 19.1% of total transactions in 2019 and 28.0% of total transactions in 2020)
  • A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 27.0% of total transactions in 2019 and 20.6% of total transactions in 2020)

Home stations market overview

The average price of Minamikagoshima Home, the highest market value along this railway was 318,519 JPY/sq.m. The market value represents an increase of 84,554 JPY (+36.1%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 7 (-87.5%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Miyagahama Home, the lowest market value along this railway was 21,739 JPY/sq.m. The market value represents a decrease of 98,261 JPY (-81.9%) 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-Chuo278,195 JPYsq.m
(20.88573730862208225sq.m)
209,615 JPYsq.m
(20.897981254506128196sq.m)
249,952 JPYsq.m
(27.861007827788647254sq.m)
Korimoto168,505 JPYsq.m
(36.77886497064579202sq.m)
124,451 JPYsq.m
(33.52465753424657149sq.m)
158,414 JPYsq.m
(24.268493150684932203sq.m)
Minamikagoshima318,519 JPYsq.m
(23.76986301369863320sq.m)
233,965 JPYsq.m
(16.477495107632095324sq.m)
157,830 JPYsq.m
(29.523287671232875305sq.m)
Usuki183,730 JPYsq.m
(27.472602739726028231sq.m)
208,017 JPYsq.m
(22.267397260273974220sq.m)
212,241 JPYsq.m
(18.219925280199252198sq.m)
Taniyama220,560 JPYsq.m
(16.514897260273973261sq.m)
332,270 JPYsq.m
(18.59802130898021524sq.m)
196,779 JPYsq.m
(17.621917808219177213sq.m)
Jigennji258,596 JPYsq.m
(23.51986301369863343sq.m)
284,542 JPYsq.m
(6.423439878234399151sq.m)
255,072 JPYsq.m
(11.427397260273972185sq.m)
Sakanoue204,459 JPYsq.m
(15.264041095890411191sq.m)
178,335 JPYsq.m
(15.531928345626975167sq.m)
228,955 JPYsq.m
(9.509589041095891269sq.m)
Goino236,050 JPYsq.m
(2.004794520547945238sq.m)
188,494 JPYsq.m
(7.758219178082192215sq.m)
191,033 JPYsq.m
(5.757077625570776178sq.m)
Hirakawa---
Sesekushi72,143 JPYsq.m
(40.28082191780822315sq.m)
--
Nakamyou-500 JPYsq.m
(45.78356164383562250sq.m)
-
Kiire37,647 JPYsq.m
(0.0530sq.m)
65,046 JPYsq.m
(32.773972602739725240sq.m)
78,317 JPYsq.m
(36.278082191780825302sq.m)
Maenohama---
Nukumi---
Satsumaimaizumi---
Miyagahama21,739 JPYsq.m
(41.78356164383562920sq.m)
120,000 JPYsq.m
(0.065.0sq.m)
-
Nigatsudenn60,526 JPYsq.m
(14.764383561643836350sq.m)
-95,000 JPYsq.m
(49.28630136986301825sq.m)
Ibusuki50,986 JPYsq.m
(42.282876712328765401sq.m)
148,889 JPYsq.m
(21.267123287671232548sq.m)
99,198 JPYsq.m
(34.27602739726027738sq.m)
Yamakawa91,429 JPYsq.m
(19.767123287671232500sq.m)
-22,449 JPYsq.m
(33.775342465753425600sq.m)
Ooyama--27,327 JPYsq.m
(35.777168949771685605sq.m)
Nishiooyama---
Satsumakawashiri--36,364 JPYsq.m
(41.78082191780822330sq.m)
Higashikaimonn-40,000 JPYsq.m
(36.778082191780825440sq.m)
-
Kaimonn---
IRino-62,963 JPYsq.m
(24.769863013698631,700sq.m)
-
Ei---
Nishiei91,212 JPYsq.m
(25.771689497716892515sq.m)
--
Goryou18,538 JPYsq.m
(19.099543378995431,303sq.m)
-
Ishikaki--10,000 JPYsq.m
(39.78082191780822600sq.m)
Mizunarikawa--16,667 JPYsq.m
(64.7972602739726590sq.m)
Eiookawa---
Matsugaura---
Satsumashioya--98,947 JPYsq.m
(13.761643835616438530sq.m)
Shirasawa---
Satsumaitashiki---
Makurazaki41,990 JPYsq.m
(42.40856164383562361sq.m)
40,600 JPYsq.m
(32.37424657534247508sq.m)
53,524 JPYsq.m
(33.346771037181995187sq.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

Minamikagoshima318,519 JPY/sq.m (+36% compared with the previous year)

The average price of Minamikagoshima Home was 318,519 JPY/sq.m. The market value represents an increase of 84,554 JPY (+36.1%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 7 (-87.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 23.8 years old (a +44.3% increase compared to the 16.5 years old of last year.). The average size of the real estate was 320.0 sq.m (a -1.3% decrease compared to the 324.4 sq.m of last year.). The average total floor space of the real estate was 135.0 sq.m (a -64.8% decrease compared to the 383.6 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.0 min in 2019 and 3.0 min in 2020; -83.3%)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 16.5 years old in 2019 and 23.8 years old in 2020; +44.3%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 14.3% of total transactions in 2019 and 100.0% of total transactions in 2020)

Korimoto168,505 JPY/sq.m (+35% compared with the previous year)

The average price of Korimoto Home was 168,505 JPY/sq.m. The market value represents an increase of 44,054 JPY (+35.4%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents an increase of 3 (+75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 36.8 years old (a +9.7% increase compared to the 33.5 years old of last year.). The average size of the real estate was 202.1 sq.m (a +35.9% increase compared to the 148.8 sq.m of last year.). The average total floor space of the real estate was 247.1 sq.m (a +19.8% increase compared to the 206.2 sq.m of last year.).

Cause of price increases

  • An decrease in transactions involving older buildings over 40 years old (representing 50.0% of total transactions in 2019 and 42.9% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 25.0% of total transactions in 2019 and 42.9% of total transactions in 2020)
  • A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 25.0% of total transactions in 2019 and 14.3% of total transactions in 2020)

Miyagahama21,739 JPY/sq.m (-82% compared with the previous year)

The average price of Miyagahama Home was 21,739 JPY/sq.m. The market value represents a decrease of 98,261 JPY (-81.9%) 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 size of the real estate was 920.0 sq.m (a +1315.4% increase compared to the 65.0 sq.m of last year.). The average total floor space of the real estate was 115.0 sq.m (a +155.6% increase compared to the 45.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 13.0 min in 2019 and 60.0 min in 2020; +361.5%)

Ibusuki50,986 JPY/sq.m (-66% compared with the previous year)

The average price of Ibusuki Home was 50,986 JPY/sq.m. The market value represents a decrease of 97,903 JPY (-65.8%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 2 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 42.3 years old (a +98.8% increase compared to the 21.3 years old of last year.). The average size of the real estate was 401.2 sq.m (a -26.7% decrease compared to the 547.5 sq.m of last year.). The average total floor space of the real estate was 236.2 sq.m (a +125.0% increase compared to the 105.0 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 25.0% of total transactions in 2020)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 21.3 years old in 2019 and 42.3 years old in 2020; +98.8%)
  • A dramatic increase in average distance from the station (representing 8.0 min in 2019 and 11.0 min in 2020; +37.5%)

Breakdown of each segment

Station:   Segment:

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