JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2016 to Dec, 2016 was 20,002 JPY/sq.m. The market value represents an increase of 778 JPY (+4.0%) compared to 1 year ago and a transition to a some market. 133 properties exchanged hands ( The market value represents a decrease of 15 (-10.1%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 420.3 sq.m (a +9.2% increase compared to the 385.1 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.

6 stations have experienced increased prices; 4 stations have experienced decreased prices. Market value of most stations decreased. Rikuzenntakata, Otomo station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Rikuzenntakata station, where prices have increased +29.0% compared to last year; a sq.m unit now costs 17,607 JPY/sq.m.

The top 2 stations has seen prices increase +27.8% (+3,054 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -35.8% (-4,765 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 7.4% of total transactions in 2015 and 1.5% of total transactions in 2016)

Breakdown of each segment

The table below shows Land dealt in JR Ōfunato 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 30,893 JPY/sq.m. The market value represents a decrease of 5,806 JPY (-15.8%) compared to 1 year ago and a transition to a weak market. 6 properties exchanged hands ( The market value represents a decrease of 2 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Rikuchuukannzaki, the lowest market value along this railway was 6,421 JPY/sq.m. The market value represents a decrease of 3,827 JPY (-37.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2016)1 year ago2 years ago
Ichinoseki29,160 JPY (0.0Y/453.8sq.m)26,888 JPY (0.0Y/481.3sq.m)25,537 JPY (0.0Y/507.0sq.m)
Mataki-1,727 JPY (0.0Y/1100.0sq.m)10,000 JPY (0.0Y/1700.0sq.m)
Rikuchuukannzaki6,421 JPY (0.0Y/141.7sq.m)10,247 JPY (0.0Y/553.3sq.m)9,577 JPY (0.0Y/477.5sq.m)
Iwanoshita-6,000 JPY (0.0Y/80.0sq.m)-
Rikuchuumatsukawa---
Geibikei10,454 JPY (0.0Y/220.0sq.m)--
Shibajuku---
Surisawa-3,576 JPY (0.0Y/645.0sq.m)10,778 JPY (0.0Y/385.0sq.m)
Sennmaya11,105 JPY (0.0Y/247.5sq.m)10,420 JPY (0.0Y/307.5sq.m)11,207 JPY (0.0Y/660.0sq.m)
Konashi---
Orikabe---
Niitsuki4,500 JPY (0.0Y/40.0sq.m)--
Takekoma10,125 JPY (0.0Y/800.0sq.m)8,442 JPY (0.0Y/484.0sq.m)12,001 JPY (0.0Y/340.0sq.m)
Rikuzenntakata17,607 JPY (0.0Y/340.5sq.m)13,648 JPY (0.0Y/348.3sq.m)20,982 JPY (0.0Y/271.0sq.m)
Wakinosawa10,990 JPY (0.0Y/320.4sq.m)16,694 JPY (0.0Y/475.0sq.m)9,090 JPY (0.0Y/330.0sq.m)
Otomo10,211 JPY (0.0Y/475.6sq.m)8,063 JPY (0.0Y/318.6sq.m)8,009 JPY (0.0Y/325.7sq.m)
Hosoura13,535 JPY (0.0Y/747.5sq.m)12,829 JPY (0.0Y/311.1sq.m)8,650 JPY (0.0Y/473.9sq.m)
Shimofunato-15,941 JPY (0.0Y/424.0sq.m)9,412 JPY (0.0Y/390.0sq.m)
Oofunato30,893 JPY (0.0Y/350.8sq.m)36,699 JPY (0.0Y/208.8sq.m)34,509 JPY (0.0Y/673.8sq.m)
Sakari21,976 JPY (0.0Y/584.0sq.m)27,741 JPY (0.0Y/323.8sq.m)26,784 JPY (0.0Y/448.5sq.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

Rikuzenntakata17,607 JPY/sq.m (+29% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 17,607 JPY/sq.m. The market value represents an increase of 3,959 JPY (+29.0%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents an increase of 5 (+83.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 340.5 sq.m (a -2.3% decrease compared to the 348.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.8 min in 2015 and 14.8 min in 2016; -21.3%)

Otomo10,211 JPY/sq.m (+27% compared with the previous year)

The average price of a sq.m Land of Otomo was 10,211 JPY/sq.m. The market value represents an increase of 2,148 JPY (+26.6%) compared to 1 year ago and a transition to a dramatic market. 9 properties exchanged hands ( The market value represents a decrease of 20 (-69.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 475.6 sq.m (a +49.3% increase compared to the 318.6 sq.m of last year.).

Rikuchuukannzaki6,421 JPY/sq.m (-37% compared with the previous year)

The average price of a sq.m Land of Rikuchuukannzaki was 6,421 JPY/sq.m. The market value represents a decrease of 3,827 JPY (-37.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 141.7 sq.m (a -74.4% decrease compared to the 553.3 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 30.0 min in 2015 and 34.0 min in 2016; +13.3%)

Wakinosawa10,990 JPY/sq.m (-34% compared with the previous year)

The average price of a sq.m Land of Wakinosawa was 10,990 JPY/sq.m. The market value represents a decrease of 5,704 JPY (-34.2%) compared to 1 year ago and a transition to a dramatic market. 23 properties exchanged hands ( The market value represents an increase of 19 (+475.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 320.4 sq.m (a -32.5% decrease compared to the 475.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 9.0 min in 2015 and 16.7 min in 2016; +86.0%)

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)