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, 2016 to Mar, 2016 was 18,846 JPY/sq.m. The market value represents a decrease of 5,285 JPY (-21.9%) compared to 1 year ago and a transition to a dramatic market. 28 properties exchanged hands ( The market value represents an increase of 9 (+47.4%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 561.1 sq.m (a +25.2% increase compared to the 448.2 sq.m of last year.).

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

0 stations have experienced increased prices; 2 stations have experienced decreased prices. The market value decreased in all stations.

The top 1 stations has seen prices increase -24.5% (-8,988 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -25.5% (-5,735 JPY/sq.m).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 28.1 min in 2015 and 38.2 min in 2016; +36.1%)
  • A dramatic decrease 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 2015 and 3.6% of total transactions in 2016)

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 27,678 JPY/sq.m. The market value represents a decrease of 8,988 JPY (-24.5%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 3 (+150.0%) 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 16,724 JPY/sq.m. The market value represents a decrease of 5,735 JPY (-25.5%) compared to 1 year ago and a transition to a dramatic market. 22 properties exchanged hands ( The market value represents an increase of 6 (+37.5%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2016)1 year ago2 years ago
Hachinohe16,724 JPY (0.0Y/637.3sq.m)22,459 JPY (0.0Y/390.3sq.m)19,022 JPY (0.0Y/337.9sq.m)
Shichinohe-Towada15,000 JPY (0.0Y/340.0sq.m)-12,903 JPY (0.0Y/310.0sq.m)
Shin-Aomori27,678 JPY (0.0Y/270.0sq.m)36,666 JPY (0.0Y/135.0sq.m)32,512 JPY (0.0Y/300.0sq.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

Shin-Aomori27,678 JPY/sq.m (-25% compared with the previous year)

The average price of a sq.m Land of Shin-Aomori was 27,678 JPY/sq.m. The market value represents a decrease of 8,988 JPY (-24.5%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 3 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 270.0 sq.m (a +100.0% increase compared to the 135.0 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 9.0 min in 2015 and 10.6 min in 2016; +17.8%)

Hachinohe16,724 JPY/sq.m (-26% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 16,724 JPY/sq.m. The market value represents a decrease of 5,735 JPY (-25.5%) compared to 1 year ago and a transition to a dramatic market. 22 properties exchanged hands ( The market value represents an increase of 6 (+37.5%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 637.3 sq.m (a +63.3% increase compared to the 390.3 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 32.1 min in 2015 and 45.6 min in 2016; +42.2%)

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)