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 Dec, 2017 was 27,038 JPY/sq.m. The market value represents an increase of 1,639 JPY (+6.5%) compared to 1 year ago and a transition to a strong market. 36 properties exchanged hands ( The market value represents a decrease of 75 (-67.6%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 500.7 sq.m (a +5.5% increase compared to the 474.7 sq.m of last year.).

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

3 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. 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 +15.6% compared to last year; a sq.m unit now costs 15,997 JPY/sq.m.

The top 1 stations has seen prices increase +15.6% (+2,161 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +1.0% (+241 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 0.9% of total transactions in 2016 and 5.6% of total transactions in 2017)

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 7.2% of total transactions in 2016 and 2.8% 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 2,004 JPY (+6.3%) compared to 1 year ago and a transition to a strong market. 15 properties exchanged hands ( The market value represents a decrease of 11 (-42.3%) 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 15,997 JPY/sq.m. The market value represents an increase of 2,161 JPY (+15.6%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands ( The market value represents a decrease of 2 (-28.6%) 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
Hachinohe24,253 JPY (0.0Y/430.6sq.m)24,012 JPY (0.0Y/512.7sq.m)18,630 JPY (0.0Y/518.1sq.m)
Shichinohe-Towada15,997 JPY (0.0Y/658.0sq.m)13,836 JPY (0.0Y/581.4sq.m)3,928 JPY (0.0Y/1140.0sq.m)
Shin-Aomori33,965 JPY (0.0Y/523.0sq.m)31,961 JPY (0.0Y/331.9sq.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 (+16% 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 2,161 JPY (+15.6%) compared to 1 year ago and a transition to a bull market. 5 properties exchanged hands ( The market value represents a decrease of 2 (-28.6%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 658.0 sq.m (a +13.2% increase compared to the 581.4 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 24.1 min in 2016 and 10.4 min in 2017; -56.9%)

Hachinohe24,253 JPY/sq.m (+1% compared with the previous year)

The average price of a sq.m Land of Hachinohe was 24,253 JPY/sq.m. The market value represents an increase of 241 JPY (+1.0%) compared to 1 year ago and a transition to a slight market. 16 properties exchanged hands ( The market value represents a decrease of 62 (-79.5%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 430.6 sq.m (a -16.0% decrease compared to the 512.7 sq.m of last year.).

Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 1.3% of total transactions in 2016 and 12.5% of total transactions in 2017)

Causes of price decreases

  • An increase in average distance from the station (representing 33.7 min in 2016 and 37.9 min in 2017; +12.2%)

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)