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 Apr, 2015 to Jun, 2015 was 14,602 JPY/sq.m. The market value represents a decrease of 10,744 JPY (-42.4%) compared to 1 year ago and a transition to a dramatic market. 28 properties exchanged hands ( The market value represents an increase of 4 (+16.7%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 332.7 sq.m (a -36.4% decrease compared to the 522.9 sq.m of last year.).

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

2 stations have experienced increased prices; 2 stations have experienced decreased prices. Market value of most stations decreased. Hosoura, Shimofunato station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Shimofunato station, where prices have increased +31.5% compared to last year; a sq.m unit now costs 12,730 JPY/sq.m.

The top 1 stations has seen prices increase +31.5% (+3,052 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -9.5% (-3,760 JPY/sq.m).


Cause of price increases

  • A dramatic increase 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 2014 and 10.7% of total transactions in 2015)

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 Oofunato, the highest market value along this railway was 35,863 JPY/sq.m. The market value represents a decrease of 3,760 JPY (-9.5%) compared to 1 year ago and a transition to a bear market. 2 properties exchanged hands ( The market value represents a decrease of 6 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Hosoura, the lowest market value along this railway was 12,680 JPY/sq.m. The market value represents an increase of 2,638 JPY (+26.3%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 4 (-66.7%) 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(2015)1 year ago2 years ago
Kanmonkaikyo Mekari8,805 JPY (0.0Y/426.7sq.m)--
Kanmonkaikyo Mekari---
Rikuzenntakata15,151 JPY (0.0Y/330.0sq.m)--
Kanmonkaikyo Mekari---
Kanmonkaikyo Mekari14,838 JPY (0.0Y/310.0sq.m)--
Wakinosawa---
Otomo7,605 JPY (0.0Y/330.0sq.m)--
Kanmonkaikyo Mekari---
Hosoura12,680 JPY (0.0Y/197.5sq.m)10,042 JPY (0.0Y/547.5sq.m)-
Shimofunato12,730 JPY (0.0Y/447.5sq.m)9,677 JPY (0.0Y/310.0sq.m)18,529 JPY (0.0Y/610.0sq.m)
Oofunato35,863 JPY (0.0Y/202.5sq.m)39,624 JPY (0.0Y/704.4sq.m)34,919 JPY (0.0Y/246.7sq.m)
Sakari25,677 JPY (0.0Y/301.0sq.m)27,770 JPY (0.0Y/368.9sq.m)24,936 JPY (0.0Y/452.8sq.m)
Takekoma---
*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

Shimofunato12,730 JPY/sq.m (+32% compared with the previous year)

The average price of a sq.m Land of Shimofunato was 12,730 JPY/sq.m. The market value represents an increase of 3,052 JPY (+31.5%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 3 (+300.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 447.5 sq.m (a +44.4% increase compared to the 310.0 sq.m of last year.).

Oofunato35,863 JPY/sq.m (-9% compared with the previous year)

The average price of a sq.m Land of Oofunato was 35,863 JPY/sq.m. The market value represents a decrease of 3,760 JPY (-9.5%) compared to 1 year ago and a transition to a bear market. 2 properties exchanged hands ( The market value represents a decrease of 6 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 202.5 sq.m (a -71.3% decrease compared to the 704.4 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 11.4 min in 2014 and 13.0 min in 2015; +14.3%)

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)