Tohoku Shinkansen Aomori 2014-2Q
Land market report

Tohoku Shinkansen railway market report

Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Hachinohe to Shin-Aomori), in Apr, 2014 to Jun, 2014 was 20,569 JPY/sq.m. The market value represents a decrease of 1,963 JPY (-8.7%) compared to 1 year ago and a transition to a bear market. 18 properties exchanged hands ( The market value represents a decrease of 39 (-68.4%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 308.9 sq.m (a -5.4% decrease compared to the 326.4 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations less than ten minutes by foot from the station.

2 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was toward increased prices. Shichinohe-Towada station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Shichinohe-Towada station, where prices have increased +22.2% compared to last year; a sq.m unit now costs 11,161 JPY/sq.m.

The top 1 stations has seen prices increase +22.2% (+2,030 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -8.8% (-2,001 JPY/sq.m).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 49.8 min in 2013 and 27.4 min in 2014; -45.0%)
  • A some increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 5.3% of total transactions in 2013 and 5.6% of total transactions in 2014)

Breakdown of each segment

The table below shows Land dealt in Tohoku Shinkansen, 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:

※各年ごとの取引件数の割合が高いセグメントほど赤く表示

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Land stations market overview

The average price of a sq.m Land of Shin-Aomori, the highest market value along this railway was 33,484 JPY/sq.m. The market value represents an increase of 3,756 JPY (+12.6%) compared to 1 year ago and a transition to a bull market. 2 properties exchanged hands ( The market value represents a decrease of 4 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Shichinohe-Towada, the lowest market value along this railway was 11,161 JPY/sq.m. The market value represents an increase of 2,030 JPY (+22.2%) 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.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2014)1 year ago2 years ago
Hachinohe20,753 JPY (0.0Y/270.8sq.m)22,754 JPY (0.0Y/295.5sq.m)23,413 JPY (0.0Y/256.2sq.m)
Shichinohe-Towada11,161 JPY (0.0Y/405.0sq.m)9,130 JPY (0.0Y/887.5sq.m)13,508 JPY (0.0Y/570.0sq.m)
Shin-Aomori33,484 JPY (0.0Y/412.5sq.m)29,728 JPY (0.0Y/194.2sq.m)45,025 JPY (0.0Y/335.7sq.m)

*Average unit prices per sq.m of Land 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.

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Noteworthy stations

Shichinohe-Towada11,161 JPY/sq.m (+22% compared with the previous year)

The average price of a sq.m Land of Shichinohe-Towada was 11,161 JPY/sq.m. The market value represents an increase of 2,030 JPY (+22.2%) 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 size of the real estate was 405.0 sq.m (a -54.4% decrease compared to the 887.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 17.2 min in 2013 and 28.0 min in 2014; +62.3%)

Hachinohe20,753 JPY/sq.m (-9% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 20,753 JPY/sq.m. The market value represents a decrease of 2,001 JPY (-8.8%) compared to 1 year ago and a transition to a bear market. 13 properties exchanged hands ( The market value represents a decrease of 34 (-72.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 270.8 sq.m (a -8.4% decrease compared to the 295.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 56.9 min in 2013 and 30.2 min in 2014; -47.0%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.1% of total transactions in 2013 and 7.7% of total transactions in 2014)

Breakdown of each segment

Station:   Segment:

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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)