JR Kagoshima Main Line railway market report

JR Kagoshima Main Line Home market overview

The average price of JR Kagoshima Main Line (Sendai to Kagoshima) Home, in Oct, 2018 to Dec, 2018 was 192,220 JPY/sq.m. The market value represents an increase of 15,965 JPY (+9.1%) compared to 1 year ago and a transition to a strong market. 129 properties exchanged hands ( The market value represents an increase of 22 (+20.6%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 25.9 years old (a +14.5% increase compared to the 22.6 years old of last year.). The average size of the real estate was 254.2 sq.m (a -13.7% decrease compared to the 294.6 sq.m of last year.). The average total floor space of the real estate was 168.2 sq.m (a +24.0% increase compared to the 135.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving total floor space for a general family households less than 100 sq.m, as well as a dramatic increase in transactions involving older buildings over 40 years old.

4 stations have experienced increased prices; 6 stations have experienced decreased prices. Market value of most stations decreased. Ichiki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Sendai station, where prices have increased +112.7% compared to last year; a sq.m unit now costs 108,573 JPY/sq.m.

The top 2 stations has seen prices increase +66.9% (+32,840 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -75.4% (-72,885 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 0.9% of total transactions in 2017 and 3.9% of total transactions in 2018)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 1.0% of total transactions in 2017 and 3.4% of total transactions in 2018)

Causes of price decreases

  • An increase in average age of the building (representing 22.6 years old in 2017 and 25.9 years old in 2018; +14.5%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 15.5% of total transactions in 2017 and 25.2% of total transactions in 2018)

Home stations market overview

The average price of Kagoshima-Chuo Home, the highest market value along this railway was 249,952 JPY/sq.m. The market value represents an increase of 31,137 JPY (+14.2%) compared to 1 year ago and a transition to a bull market. 58 properties exchanged hands ( The market value represents an increase of 23 (+65.7%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Higashiichiki Home, the lowest market value along this railway was 965 JPY/sq.m. The market value represents a decrease of 50,171 JPY (-98.1%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

JR Kagoshima Main Line (Stations Home market overview)
JR Kagoshima Main LineThis year(2018)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Sendai108,573 JPYsq.m
(33.175616438356165291sq.m)
51,042 JPYsq.m
(29.973698630136987578sq.m)
157,242 JPYsq.m
(17.891438356164382409sq.m)
Kumanojou85,714 JPYsq.m
(0.0440sq.m)
181,313 JPYsq.m
(6.757534246575342405sq.m)
154,150 JPYsq.m
(23.102739726027398413sq.m)
Kobannchaya-50,000 JPYsq.m
(37.778082191780825165sq.m)
-
Kushikino23,165 JPYsq.m
(32.52465753424657182sq.m)
41,620 JPYsq.m
(34.776712328767125848sq.m)
23,036 JPYsq.m
(39.11506849315069162sq.m)
Kamimuragakuennmae21,484 JPYsq.m
(37.11232876712329192sq.m)
--
Ichiki46,667 JPYsq.m
(29.77260273972603230sq.m)
38,518 JPYsq.m
(35.278082191780825675sq.m)
80,000 JPYsq.m
(24.76986301369863165sq.m)
Yunomoto-226,087 JPYsq.m
(1.7534246575342465260sq.m)
187,500 JPYsq.m
(-0.2465753424657534175sq.m)
Higashiichiki965 JPYsq.m
(46.78356164383562410sq.m)
70,000 JPYsq.m
(0.0320sq.m)
Ijuuinn57,131 JPYsq.m
(36.920939334637964408sq.m)
116,598 JPYsq.m
(25.27054794520548332sq.m)
99,930 JPYsq.m
(28.523059360730592331sq.m)
Satsumamatsumoto-194,897 JPYsq.m
(3.0885844748858444222sq.m)
108,333 JPYsq.m
(27.77260273972603220sq.m)
Kamiijuuinn206,506 JPYsq.m
(9.759589041095891171sq.m)
206,667 JPYsq.m
(26.77260273972603690sq.m)
48,897 JPYsq.m
(36.77945205479452385sq.m)
Hiroki177,148 JPYsq.m
(25.627397260273973218sq.m)
234,738 JPYsq.m
(13.345662100456622299sq.m)
192,265 JPYsq.m
(17.765582191780823182sq.m)
Kagoshima-Chuo249,952 JPYsq.m
(27.861007827788647254sq.m)
218,814 JPYsq.m
(23.802739726027397199sq.m)
224,772 JPYsq.m
(22.61768368617684269sq.m)
Kagoshima210,230 JPYsq.m
(11.550252343186733222sq.m)
191,070 JPYsq.m
(24.353310502283108204sq.m)
185,627 JPYsq.m
(16.11764705882353192sq.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

Sendai108,573 JPY/sq.m (+113% compared with the previous year)

The average price of Sendai Home was 108,573 JPY/sq.m. The market value represents an increase of 57,531 JPY (+112.7%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents a decrease of 1 (-8.3%) compared to 1 year ago and a transition to a bear market.).

The average age of the real estate was 33.2 years old (a +10.7% increase compared to the 30.0 years old of last year.). The average size of the real estate was 291.0 sq.m (a -49.6% decrease compared to the 577.7 sq.m of last year.). The average total floor space of the real estate was 231.9 sq.m (a +96.2% increase compared to the 118.2 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 79.2 min in 2017 and 52.0 min in 2018; -34.3%)
  • An decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2017 and 40.0% of total transactions in 2018)

Causes of price decreases

  • An increase in average age of the building (representing 30.0 years old in 2017 and 33.2 years old in 2018; +10.7%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 20.0% of total transactions in 2017 and 30.0% of total transactions in 2018)

Ichiki46,667 JPY/sq.m (+21% compared with the previous year)

The average price of Ichiki Home was 46,667 JPY/sq.m. The market value represents an increase of 8,148 JPY (+21.2%) 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 29.8 years old (a -15.6% decrease compared to the 35.3 years old of last year.). The average size of the real estate was 230.0 sq.m (a -65.9% decrease compared to the 675.0 sq.m of last year.). The average total floor space of the real estate was 75.0 sq.m (a -36.2% decrease compared to the 117.5 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 35.3 years old in 2017 and 29.8 years old in 2018; -15.6%)
  • A dramatic decrease in average distance from the station (representing 22.0 min in 2017 and 11.0 min in 2018; -50.0%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2017 and 100.0% of total transactions in 2018)

Higashiichiki965 JPY/sq.m (-98% compared with the previous year)

The average price of Higashiichiki Home was 965 JPY/sq.m. The market value represents a decrease of 50,171 JPY (-98.1%) 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 46.8 years old (a +592.2% increase compared to the 6.8 years old of last year.). The average total floor space of the real estate was 85.0 sq.m (a -90.3% decrease compared to the 880.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 6.8 years old in 2017 and 46.8 years old in 2018; +592.2%)
  • An increase in average distance from the station (representing 27.0 min in 2017 and 30.0 min in 2018; +11.1%)

Kumanojou85,714 JPY/sq.m (-53% compared with the previous year)

The average price of Kumanojou Home was 85,714 JPY/sq.m. The market value represents a decrease of 95,599 JPY (-52.7%) 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 size of the real estate was 440.0 sq.m (a +8.6% increase compared to the 405.0 sq.m of last year.). The average total floor space of the real estate was 105.0 sq.m (a +5.0% increase compared to the 100.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 28.0 min in 2017 and 15.0 min in 2018; -46.4%)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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