JR Ofunato BRT line Iwate 2017-1Q
Land market report

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 Jan, 2017 to Mar, 2017 was 23,000 JPY/sq.m. The market value represents an increase of 4,691 JPY (+25.6%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 20 (-95.2%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 300.0 sq.m (a -30.8% decrease compared to the 433.8 sq.m of last year.).

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

1 stations have experienced increased prices; 0 stations have experienced decreased prices. Market value of most stations decreased. Rikuzenntakata station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Rikuzenntakata station, where prices have increased +14.8% compared to last year; a sq.m unit now costs 23,000 JPY/sq.m.

The top 1 stations has seen prices increase +14.8% (+2,974 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +14.8% (+2,974 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 24.1 min in 2016 and 12.0 min in 2017; -50.3%)

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 Rikuzenntakata, the highest market value along this railway was 23,000 JPY/sq.m. The market value represents an increase of 2,974 JPY (+14.8%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Rikuzenntakata, the lowest market value along this railway was 23,000 JPY/sq.m. The market value represents an increase of 2,974 JPY (+14.8%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) 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(2017)1 year ago2 years ago
Kanmonkaikyo Mekari--4,349 JPY (0.0Y/250.0sq.m)
Kanmonkaikyo Mekari---
Rikuzenntakata23,000 JPY (0.0Y/300.0sq.m)20,026 JPY (0.0Y/315.0sq.m)11,407 JPY (0.0Y/260.0sq.m)
Kanmonkaikyo Mekari---
Kanmonkaikyo Mekari--24,006 JPY (0.0Y/247.5sq.m)
Wakinosawa-7,942 JPY (0.0Y/275.0sq.m)32,142 JPY (0.0Y/280.0sq.m)
Otomo-11,587 JPY (0.0Y/355.0sq.m)7,878 JPY (0.0Y/330.0sq.m)
Kanmonkaikyo Mekari-18,181 JPY (0.0Y/330.0sq.m)13,787 JPY (0.0Y/330.0sq.m)
Hosoura-13,333 JPY (0.0Y/330.0sq.m)12,303 JPY (0.0Y/330.0sq.m)
Shimofunato---
Oofunato-28,844 JPY (0.0Y/422.5sq.m)40,000 JPY (0.0Y/112.5sq.m)
Sakari-22,504 JPY (0.0Y/582.5sq.m)16,147 JPY (0.0Y/610.0sq.m)
Takekoma-5,250 JPY (0.0Y/1200.0sq.m)8,712 JPY (0.0Y/330.0sq.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

Rikuzenntakata23,000 JPY/sq.m (+15% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 23,000 JPY/sq.m. The market value represents an increase of 2,974 JPY (+14.8%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 300.0 sq.m (a -4.8% decrease compared to the 315.0 sq.m of last year.).


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)