Tohoku Shinkansen Aomori 2015-1Q
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 Jan, 2015 to Mar, 2015 was 24,131 JPY/sq.m. The market value represents an increase of 2,934 JPY (+13.8%) compared to 1 year ago and a transition to a bull market. 19 properties exchanged hands ( The market value represents a decrease of 3 (-13.6%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 448.2 sq.m (a +35.9% increase compared to the 329.8 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; 0 stations have experienced decreased prices. The overall trend was toward increased prices. Hachinohe, Shin-Aomori station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Hachinohe station, where prices have increased +18.1% compared to last year; a sq.m unit now costs 22,459 JPY/sq.m.

The top 1 stations has seen prices increase +18.1% (+3,438 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +12.8% (+4,154 JPY/sq.m).

Cause of price increases

  • An increase 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 2014 and 5.3% of total transactions in 2015)

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 36,666 JPY/sq.m. The market value represents an increase of 4,154 JPY (+12.8%) compared to 1 year ago and a transition to a bull market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Hachinohe, the lowest market value along this railway was 22,459 JPY/sq.m. The market value represents an increase of 3,438 JPY (+18.1%) compared to 1 year ago and a transition to a bull market. 16 properties exchanged hands ( The market value represents a decrease of 1 (-5.9%) compared to 1 year ago and a transition to a bear market.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2015)1 year ago2 years ago
Hachinohe22,459 JPY (0.0Y/390.3sq.m)19,022 JPY (0.0Y/337.9sq.m)22,274 JPY (0.0Y/468.3sq.m)
Shichinohe-Towada-12,903 JPY (0.0Y/310.0sq.m)14,501 JPY (0.0Y/381.7sq.m)
Shin-Aomori36,666 JPY (0.0Y/135.0sq.m)32,512 JPY (0.0Y/300.0sq.m)46,159 JPY (0.0Y/205.0sq.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

Hachinohe22,459 JPY/sq.m (+18% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 22,459 JPY/sq.m. The market value represents an increase of 3,438 JPY (+18.1%) compared to 1 year ago and a transition to a bull market. 16 properties exchanged hands ( The market value represents a decrease of 1 (-5.9%) compared to 1 year ago and a transition to a bear market.).

The average size of the real estate was 390.3 sq.m (a +15.5% increase compared to the 337.9 sq.m of last year.).

Shin-Aomori36,666 JPY/sq.m (+13% compared with the previous year)

The average price of a sq.m Land of Shin-Aomori was 36,666 JPY/sq.m. The market value represents an increase of 4,154 JPY (+12.8%) compared to 1 year ago and a transition to a bull market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 135.0 sq.m (a -55.0% decrease compared to the 300.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 11.2 min in 2014 and 9.0 min in 2015; -20.0%)

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)