JR Ofunato BRT line Land market overview

The average price of a sq.m Land of JR Ofunato BRT line (Kanmonkaikyo Mekari to Takekoma), in Jul, 2014 to Sep, 2014 was 19,736 JPY/sq.m. The market value represents a decrease of 10,135 JPY (-33.9%) compared to 1 year ago and a transition to a dramatic market. 21 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 418.1 sq.m (a -9.5% decrease compared to the 462.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving very large size more than 200 sq.m.

0 stations have experienced increased prices; 2 stations have experienced decreased prices. The market value decreased in all stations. Sakari station has seen a price decrease of over 5% compared to last year. The most dramatic price increase was at Oofunato station, where prices have decreased -21.7% compared to last year; a sq.m unit now costs 25,384 JPY/sq.m.

The top 1 stations has seen prices increase -16.6% (-5,331 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -21.7% (-7,026 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 4.8% of total transactions in 2013 and 14.3% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 14.0 min in 2013 and 17.9 min in 2014; +28.3%)

Breakdown of each segment

The table below shows Land dealt in JR Ofunato BRT line, 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:

Top

Land stations market overview

The average price of a sq.m Land of Sakari, the highest market value along this railway was 26,840 JPY/sq.m. The market value represents a decrease of 5,331 JPY (-16.6%) compared to 1 year ago and a transition to a weak market. 9 properties exchanged hands ( The market value represents a decrease of 2 (-18.2%) compared to 1 year ago and a transition to a weak market.).

The average price of a sq.m Land of Oofunato, the lowest market value along this railway was 25,384 JPY/sq.m. The market value represents a decrease of 7,026 JPY (-21.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 6 (-85.7%) compared to 1 year ago and a transition to a dramatic market.).

JR Ofunato BRT line (Stations Land market overview)
JR Ofunato BRT lineThis year(2014)1 year ago2 years ago
Kanmonkaikyo Mekari---
Kanmonkaikyo Mekari---
Rikuzenntakata23,771 JPY (0.0Y/376.7sq.m)--
Kanmonkaikyo Mekari---
Kanmonkaikyo Mekari9,494 JPY (0.0Y/345.0sq.m)--
Wakinosawa9,090 JPY (0.0Y/330.0sq.m)--
Otomo7,575 JPY (0.0Y/330.0sq.m)--
Kanmonkaikyo Mekari---
Hosoura-14,355 JPY (0.0Y/530.0sq.m)13,529 JPY (0.0Y/1700.0sq.m)
Shimofunato-22,424 JPY (0.0Y/165.0sq.m)35,714 JPY (0.0Y/387.5sq.m)
Oofunato25,384 JPY (0.0Y/1300.0sq.m)32,410 JPY (0.0Y/301.4sq.m)20,604 JPY (0.0Y/573.8sq.m)
Sakari26,840 JPY (0.0Y/405.6sq.m)32,171 JPY (0.0Y/579.1sq.m)18,423 JPY (0.0Y/523.3sq.m)
Takekoma11,940 JPY (0.0Y/345.0sq.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.
Top

Noteworthy stations

Sakari26,840 JPY/sq.m (-17% compared with the previous year)

The average price of a sq.m Land of Sakari was 26,840 JPY/sq.m. The market value represents a decrease of 5,331 JPY (-16.6%) compared to 1 year ago and a transition to a weak market. 9 properties exchanged hands ( The market value represents a decrease of 2 (-18.2%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 405.6 sq.m (a -30.0% decrease compared to the 579.1 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 19.1 min in 2013 and 24.9 min in 2014; +30.4%)

Oofunato25,384 JPY/sq.m (-22% compared with the previous year)

The average price of a sq.m Land of Oofunato was 25,384 JPY/sq.m. The market value represents a decrease of 7,026 JPY (-21.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 6 (-85.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 1300.0 sq.m (a +331.3% increase compared to the 301.4 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 5.9 min in 2013 and 2.0 min in 2014; -65.9%)
  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 14.3% of total transactions in 2013 and 100.0% of total transactions in 2014)

Breakdown of each segment

Station:   Segment:

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)