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, 2021 to Jun, 2021 was 192,926 JPY/sq.m. The market value represents a decrease of 9,521 JPY (-4.7%) compared to 1 year ago and a transition to a some market. 113 properties exchanged hands ( The market value represents an increase of 1 (+0.9%) compared to 1 year ago and a transition to a slight market.).

The average age of the real estate was 22.9 years old (a +2.1% increase compared to the 22.4 years old of last year.). The average size of the real estate was 229.4 sq.m (a -16.4% decrease compared to the 274.3 sq.m of last year.). The average total floor space of the real estate was 163.8 sq.m (a +0.5% increase compared to the 162.9 sq.m of last year.).

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

5 stations have experienced increased prices; 6 stations have experienced decreased prices. Market value of most stations decreased. Sakanoue, Ibusuki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Satsumaimaizumi station, where prices have increased +361.6% compared to last year; a sq.m unit now costs 38,462 JPY/sq.m.

The top 2 stations has seen prices increase +223.6% (+28,082 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -68.6% (-111,686 JPY/sq.m).

Cause of price increases

  • An decrease in transactions involving relatively old buildings under 40 years old (representing 35.6% of total transactions in 2020 and 32.0% of total transactions in 2021)

Causes of price decreases

  • An increase in average distance from the station (representing 24.7 min in 2020 and 29.2 min in 2021; +18.1%)
  • An decrease in transactions involving nearly new buildings under 3 years old (representing 35.6% of total transactions in 2020 and 30.0% of total transactions in 2021)
  • An increase in transactions involving older buildings over 40 years old (representing 20.2% of total transactions in 2020 and 24.0% of total transactions in 2021)

Home stations market overview

The average price of Korimoto Home, the highest market value along this railway was 228,247 JPY/sq.m. The market value represents a decrease of 37,009 JPY (-14.0%) compared to 1 year ago and a transition to a weak market. 3 properties exchanged hands ( The market value represents a decrease of 2 (-40.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Makurazaki Home, the lowest market value along this railway was 23,568 JPY/sq.m. The market value represents a decrease of 45,222 JPY (-65.7%) compared to 1 year ago and a transition to a dramatic 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.).

JR Ibusuki Makurazaki Line (Stations Home market overview)
JR Ibusuki Makurazaki LineThis year(2021)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Kagoshima-Chuo214,032 JPYsq.m
(24.477168949771688233sq.m)
196,088 JPYsq.m
(26.041722113502935200sq.m)
191,455 JPYsq.m
(27.155977584059777241sq.m)
Korimoto228,247 JPYsq.m
(20.599086757990868220sq.m)
265,256 JPYsq.m
(26.870684931506847226sq.m)
166,539 JPYsq.m
(31.872876712328768237sq.m)
Minamikagoshima70,956 JPYsq.m
(38.778082191780825282sq.m)
249,105 JPYsq.m
(18.154033485540335155sq.m)
149,026 JPYsq.m
(36.942465753424656118sq.m)
Usuki222,889 JPYsq.m
(8.257534246575343185sq.m)
246,674 JPYsq.m
(15.262592202318231219sq.m)
255,308 JPYsq.m
(11.509246575342466194sq.m)
Taniyama221,101 JPYsq.m
(17.36928622927181176sq.m)
216,650 JPYsq.m
(8.858630136986301314sq.m)
224,059 JPYsq.m
(18.049510763209394380sq.m)
Jigennji166,111 JPYsq.m
(17.764383561643836405sq.m)
431,232 JPYsq.m
(13.861917808219179292sq.m)
280,211 JPYsq.m
(2.453150684931507164sq.m)
Sakanoue189,298 JPYsq.m
(16.46301369863014228sq.m)
136,108 JPYsq.m
(29.648287671232875166sq.m)
140,981 JPYsq.m
(22.078938356164382301sq.m)
Goino-86,301 JPYsq.m
(36.2767123287671251,300sq.m)
245,000 JPYsq.m
(3.7534246575342465200sq.m)
Hirakawa---
Sesekushi25,000 JPYsq.m
(44.28219178082192330sq.m)
--
Nakamyou---
Kiire-256,073 JPYsq.m
(0.25205479452054796240sq.m)
59,130 JPYsq.m
(36.276712328767125250sq.m)
Maenohama-64,000 JPYsq.m
(27.27123287671233250sq.m)
-
Nukumi---
Satsumaimaizumi8,333 JPYsq.m
(73.30410958904109500sq.m)
-
Miyagahama-43,333 JPYsq.m
(20.265753424657536830sq.m)
-
Nigatsudenn52,619 JPYsq.m
(35.610045662100454253sq.m)
77,718 JPYsq.m
(20.266666666666666680sq.m)
140,000 JPYsq.m
(30.27123287671233240sq.m)
Ibusuki56,458 JPYsq.m
(37.27762557077626310sq.m)
30,423 JPYsq.m
(40.61369863013699215sq.m)
66,316 JPYsq.m
(39.278082191780825368sq.m)
Yamakawa-68,888 JPYsq.m
(22.268493150684932437sq.m)
-
Ooyama---
Nishiooyama---
Satsumakawashiri--12,000 JPYsq.m
(48.28493150684932350sq.m)
Higashikaimonn---
Kaimonn---
IRino11,111 JPYsq.m
(40.27945205479452270sq.m)
--
Ei--
Nishiei---
Goryou--23,810 JPYsq.m
(20.265753424657536500sq.m)
Ishikaki59,091 JPYsq.m
(21.265753424657536720sq.m)
--
Mizunarikawa---
Eiookawa---
Matsugaura---
Satsumashioya---
Shirasawa---
Satsumaitashiki-122,222 JPYsq.m
(0.0890sq.m)
-
Makurazaki23,568 JPYsq.m
(31.773972602739725228sq.m)
68,790 JPYsq.m
(30.941552511415523373sq.m)
93,372 JPYsq.m
(40.05662100456621238sq.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

Satsumaimaizumi38,462 JPY/sq.m (+362% compared with the previous year)

The average price of Satsumaimaizumi Home was 38,462 JPY/sq.m. The market value represents an increase of 30,129 JPY (+361.6%) 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 21.3 years old (a -71.0% decrease compared to the 73.3 years old of last year.). The average total floor space of the real estate was 390.0 sq.m (a +116.7% increase compared to the 180.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 73.3 years old in 2020 and 21.3 years old in 2021; -71.0%)

Causes of price decreases

  • An increase in average distance from the station (representing 26.0 min in 2020 and 30.0 min in 2021; +15.4%)

Ibusuki56,458 JPY/sq.m (+86% compared with the previous year)

The average price of Ibusuki Home was 56,458 JPY/sq.m. The market value represents an increase of 26,036 JPY (+85.6%) 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 37.3 years old (a -8.2% decrease compared to the 40.6 years old of last year.). The average size of the real estate was 310.0 sq.m (a +44.2% increase compared to the 215.0 sq.m of last year.). The average total floor space of the real estate was 70.0 sq.m (a -28.8% decrease compared to the 98.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.3 min in 2020 and 10.0 min in 2021; -45.5%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 66.7% of total transactions in 2020 and 33.3% of total transactions in 2021)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 33.3% of total transactions in 2020 and 66.7% of total transactions in 2021)

Minamikagoshima70,956 JPY/sq.m (-72% compared with the previous year)

The average price of Minamikagoshima Home was 70,956 JPY/sq.m. The market value represents a decrease of 178,149 JPY (-71.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 7 (-70.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 38.8 years old (a +113.6% increase compared to the 18.2 years old of last year.). The average size of the real estate was 281.7 sq.m (a +81.7% increase compared to the 155.0 sq.m of last year.). The average total floor space of the real estate was 307.5 sq.m (a +129.5% increase compared to the 134.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 18.2 years old in 2020 and 38.8 years old in 2021; +113.6%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 22.2% of total transactions in 2020 and 50.0% of total transactions in 2021)

Makurazaki23,568 JPY/sq.m (-66% compared with the previous year)

The average price of Makurazaki Home was 23,568 JPY/sq.m. The market value represents a decrease of 45,222 JPY (-65.7%) compared to 1 year ago and a transition to a dramatic 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 31.8 years old (a +2.7% increase compared to the 30.9 years old of last year.). The average size of the real estate was 227.5 sq.m (a -39.1% decrease compared to the 373.3 sq.m of last year.). The average total floor space of the real estate was 115.0 sq.m (a +7.8% increase compared to the 106.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 23.0 min in 2020 and 64.0 min in 2021; +178.3%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 33.3% of total transactions in 2020 and 50.0% of total transactions in 2021)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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