Wakasa Railway Line railway market report

Wakasa Railway Line Home market overview

The average price of Wakasa Railway Line (Kooge to Wakasa) Home, in Jan, 2018 to Dec, 2018 was 58,178 JPY/sq.m. The market value represents an increase of 15,678 JPY (+36.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 3 (-37.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 39.1 years old (a +14.8% increase compared to the 34.1 years old of last year.). The average size of the real estate was 177.0 sq.m (a -57.6% decrease compared to the 417.5 sq.m of last year.). The average total floor space of the real estate was 121.0 sq.m (a -44.8% decrease compared to the 219.4 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving older buildings over 40 years old.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. Market value of most stations decreased. Kooge station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Wakasa station, where prices have increased +719.7% compared to last year; a sq.m unit now costs 5,000 JPY/sq.m.

The top 1 stations has seen prices increase +719.7% (+4,390 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +21.6% (+16,605 JPY/sq.m).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 13.6 min in 2017 and 7.0 min in 2018; -48.6%)

Causes of price decreases

  • An increase in average age of the building (representing 34.1 years old in 2017 and 39.1 years old in 2018; +14.8%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 40.0% of total transactions in 2017 and 80.0% of total transactions in 2018)

Home stations market overview

The average price of Kooge Home, the highest market value along this railway was 93,630 JPY/sq.m. The market value represents an increase of 16,605 JPY (+21.6%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 1 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of Wakasa Home, the lowest market value along this railway was 5,000 JPY/sq.m. The market value represents an increase of 4,390 JPY (+719.7%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

Wakasa Railway Line (Stations Home market overview)
Wakasa Railway LineThis year(2018)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Kooge93,630 JPYsq.m
(28.771689497716892203sq.m)
77,025 JPYsq.m
(28.438356164383563535sq.m)
70,868 JPYsq.m
(31.9325sq.m)
Yazukoukoumae---
Inabafunaoka---
Hayabusa---
Abe---
Hattou-7,500 JPYsq.m
(49.78630136986301510sq.m)
-
Tokumaru---
Tannpi-23,182 JPYsq.m
(35.276712328767125440sq.m)
-
Wakasa5,000 JPYsq.m
(54.66575342465753138sq.m)
610 JPYsq.m
(0.0125sq.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

Wakasa5,000 JPY/sq.m (+720% compared with the previous year)

The average price of Wakasa Home was 5,000 JPY/sq.m. The market value represents an increase of 4,390 JPY (+719.7%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 137.5 sq.m (a +10.0% increase compared to the 125.0 sq.m of last year.). The average total floor space of the real estate was 87.5 sq.m (a -40.7% decrease compared to the 147.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.0 min in 2017 and 6.5 min in 2018; -63.9%)

Kooge93,630 JPY/sq.m (+22% compared with the previous year)

The average price of Kooge Home was 93,630 JPY/sq.m. The market value represents an increase of 16,605 JPY (+21.6%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 1 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 28.8 years old (a +1.2% increase compared to the 28.4 years old of last year.). The average size of the real estate was 203.3 sq.m (a -62.0% decrease compared to the 535.0 sq.m of last year.). The average total floor space of the real estate was 143.3 sq.m (a -42.7% decrease compared to the 250.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 11.2 min in 2017 and 7.3 min in 2018; -34.8%)

Causes of price decreases

  • A dramatic increase in transactions involving older buildings over 40 years old (representing 33.3% of total transactions in 2017 and 66.7% of total transactions in 2018)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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Company Name Utinokati
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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Foundation November, 2014
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