Tohoku Shinkansen Aomori 2017-FY
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, 2017 to Sep, 2017 was 26,924 JPY/sq.m. The market value represents an increase of 1,233 JPY (+4.8%) compared to 1 year ago and a transition to a some market. 33 properties exchanged hands ( The market value represents a decrease of 56 (-62.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 526.5 sq.m (a +8.5% increase compared to the 485.3 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 10% compared to last year. The most dramatic price increase was at Shichinohe-Towada station, where prices have increased +18.0% compared to last year; a sq.m unit now costs 15,997 JPY/sq.m.

The top 1 stations has seen prices increase +18.0% (+2,439 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -5.2% (-1,287 JPY/sq.m).

Causes of price decreases

  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 5.6% of total transactions in 2016 and 3.0% 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 33,965 JPY/sq.m. The market value represents an increase of 1,647 JPY (+5.1%) compared to 1 year ago and a transition to a strong market. 15 properties exchanged hands ( The market value represents a decrease of 3 (-16.7%) compared to 1 year ago and a transition to a weak market.).

The average price of a sq.m Land of Shichinohe-Towada, the lowest market value along this railway was 15,997 JPY/sq.m. The market value represents an increase of 2,439 JPY (+18.0%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2017)1 year ago2 years ago
Hachinohe23,263 JPY (0.0Y/480.0sq.m)24,549 JPY (0.0Y/503.3sq.m)18,630 JPY (0.0Y/518.1sq.m)
Shichinohe-Towada15,997 JPY (0.0Y/658.0sq.m)13,558 JPY (0.0Y/692.0sq.m)3,928 JPY (0.0Y/1140.0sq.m)
Shin-Aomori33,965 JPY (0.0Y/523.0sq.m)32,318 JPY (0.0Y/362.2sq.m)32,593 JPY (0.0Y/348.9sq.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-Towada15,997 JPY/sq.m (+18% compared with the previous year)

The average price of a sq.m Land of Shichinohe-Towada was 15,997 JPY/sq.m. The market value represents an increase of 2,439 JPY (+18.0%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 658.0 sq.m (a -4.9% decrease compared to the 692.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 21.8 min in 2016 and 10.4 min in 2017; -52.3%)

Hachinohe23,263 JPY/sq.m (-5% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 23,263 JPY/sq.m. The market value represents a decrease of 1,287 JPY (-5.2%) compared to 1 year ago and a transition to a bear market. 13 properties exchanged hands ( The market value represents a decrease of 53 (-80.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 480.0 sq.m (a -4.6% decrease compared to the 503.3 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)