JR Nara Line Home market overview

The average price of a sq.m Home of JR Nara Line (Nara to Narayama), in Jan, 2013 to Dec, 2013 was 181,856 JPY/sq.m. The market value represents an increase of 38,199 JPY (+26.6%) compared to 1 year ago and a transition to a dramatic market. 38 properties exchanged hands ( The market value represents an increase of 12 (+46.2%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 17.0 years old (a -23.5% decrease compared to the 22.2 years old of last year.). The average size of the real estate was 214.3 sq.m (a +24.1% increase compared to the 172.7 sq.m of last year.). The average total floor space of the real estate was 206.7 sq.m (a +28.3% increase compared to the 161.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving nearly new buildings under 3 years old, as well as a dramatic increase in transactions involving relatively large total floor space more than 100 sq.m.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. Nara station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Nara station, where prices have increased +28.2% compared to last year; a sq.m unit now costs 181,335 JPY/sq.m.

The top 1 stations has seen prices increase +28.2% (+39,922 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +18.7% (+29,188 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average age of the building (representing 22.2 years old in 2012 and 17.0 years old in 2013; -23.5%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 11.5% of total transactions in 2012 and 35.1% of total transactions in 2013)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 3.8% of total transactions in 2012 and 5.3% of total transactions in 2013)

Causes of price decreases

  • A slight increase in transactions involving relatively old buildings under 40 years old (representing 53.8% of total transactions in 2012 and 54.1% of total transactions in 2013)

Breakdown of each segment

The table below shows Home dealt in JR Nara Line, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

Top

Home stations market overview

The average price of a sq.m Home of Narayama, the highest market value along this railway was 185,185 JPY/sq.m. The market value represents an increase of 29,188 JPY (+18.7%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands ( The market value represents an increase of 1 (+25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Home of Nara, the lowest market value along this railway was 181,335 JPY/sq.m. The market value represents an increase of 39,922 JPY (+28.2%) compared to 1 year ago and a transition to a dramatic market. 33 properties exchanged hands ( The market value represents an increase of 11 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Nara Line (Stations Home market overview)
JR Nara LineThis year(2013)1 year ago2 years ago
Nara181,335 JPY (15.6Y/198.8sq.m)141,413 JPY (21.8Y/158.4sq.m)364,025 JPY (19.5Y/206.5sq.m)
Narayama185,185 JPY (26.2Y/317.0sq.m)155,997 JPY (25.0Y/251.2sq.m)205,950 JPY (10.0Y/170.9sq.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.
Top

Noteworthy stations

Nara181,335 JPY/sq.m (+28% compared with the previous year)

The average price of a sq.m Home of Nara was 181,335 JPY/sq.m. The market value represents an increase of 39,922 JPY (+28.2%) compared to 1 year ago and a transition to a dramatic market. 33 properties exchanged hands ( The market value represents an increase of 11 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 15.6 years old (a -28.4% decrease compared to the 21.8 years old of last year.). The average size of the real estate was 198.8 sq.m (a +25.5% increase compared to the 158.4 sq.m of last year.). The average total floor space of the real estate was 219.8 sq.m (a +32.1% increase compared to the 166.4 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 21.8 years old in 2012 and 15.6 years old in 2013; -28.4%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 13.6% of total transactions in 2012 and 40.6% of total transactions in 2013)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2012 and 50.0% of total transactions in 2013)

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 4.5% of total transactions in 2012 and 3.0% of total transactions in 2013)

Narayama185,185 JPY/sq.m (+19% compared with the previous year)

The average price of a sq.m Home of Narayama was 185,185 JPY/sq.m. The market value represents an increase of 29,188 JPY (+18.7%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands ( The market value represents an increase of 1 (+25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 26.2 years old (a +5.1% increase compared to the 25.0 years old of last year.). The average size of the real estate was 317.0 sq.m (a +26.2% increase compared to the 251.2 sq.m of last year.). The average total floor space of the real estate was 120.0 sq.m (a -9.4% decrease compared to the 132.5 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 10.5 min in 2012 and 11.8 min in 2013; +12.4%)
  • A some increase in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2012 and 80.0% of total transactions in 2013)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (https://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)