Tohoku Shinkansen Aomori 2017-3Q
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 Jul, 2017 to Sep, 2017 was 28,858 JPY/sq.m. The market value represents an increase of 1,887 JPY (+7.0%) compared to 1 year ago and a transition to a strong market. 25 properties exchanged hands ( The market value represents an increase of 1 (+4.2%) compared to 1 year ago and a transition to a some market.).

The average size of the real estate was 508.2 sq.m (a +12.2% increase compared to the 453.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was an decrease in transactions involving locations relatively far from the station less than twenty 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 +41.0% compared to last year; a sq.m unit now costs 19,107 JPY/sq.m.

The top 1 stations has seen prices increase +41.0% (+5,553 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -18.2% (-4,760 JPY/sq.m).

Cause of price increases

  • An decrease in average distance from the station (representing 29.6 min in 2016 and 26.3 min in 2017; -11.0%)

Causes of price decreases

  • A some decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 4.2% of total transactions in 2016 and 4.0% of total transactions in 2017)

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 36,935 JPY/sq.m. The market value represents an increase of 5,192 JPY (+16.4%) compared to 1 year ago and a transition to a bull market. 13 properties exchanged hands ( The market value represents an increase of 5 (+62.5%) 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 19,107 JPY/sq.m. The market value represents an increase of 5,553 JPY (+41.0%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 1 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2017)1 year ago2 years ago
Hachinohe21,338 JPY (0.0Y/387.8sq.m)26,098 JPY (0.0Y/448.2sq.m)18,107 JPY (0.0Y/615.2sq.m)
Shichinohe-Towada19,107 JPY (0.0Y/753.3sq.m)13,554 JPY (0.0Y/395.0sq.m)-
Shin-Aomori36,935 JPY (0.0Y/535.0sq.m)31,743 JPY (0.0Y/476.2sq.m)35,314 JPY (0.0Y/288.2sq.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-Towada19,107 JPY/sq.m (+41% compared with the previous year)

The average price of a sq.m Land of Shichinohe-Towada was 19,107 JPY/sq.m. The market value represents an increase of 5,553 JPY (+41.0%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 1 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 753.3 sq.m (a +90.7% increase compared to the 395.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.0 min in 2016 and 5.3 min in 2017; -70.4%)

Hachinohe21,338 JPY/sq.m (-18% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 21,338 JPY/sq.m. The market value represents a decrease of 4,760 JPY (-18.2%) compared to 1 year ago and a transition to a weak market. 9 properties exchanged hands ( The market value represents a decrease of 5 (-35.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 387.8 sq.m (a -13.5% decrease compared to the 448.2 sq.m of last year.).


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)