JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2017 to Jun, 2017 was 22,936 JPY/sq.m. The market value represents an increase of 3,831 JPY (+20.1%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents a decrease of 92 (-89.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 470.5 sq.m (a +8.1% increase compared to the 435.2 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.

2 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased. Rikuzenntakata 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 +30.6% compared to last year; a sq.m unit now costs 23,000 JPY/sq.m.

The top 1 stations has seen prices increase +30.6% (+5,393 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -50.6% (-14,602 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 1.0% of total transactions in 2016 and 9.1% of total transactions in 2017)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 23.4 min in 2016 and 35.2 min in 2017; +50.5%)

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 Ichinoseki, the highest market value along this railway was 34,650 JPY/sq.m. The market value represents an increase of 3,718 JPY (+12.0%) compared to 1 year ago and a transition to a bull market. 6 properties exchanged hands ( The market value represents a decrease of 24 (-80.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Oofunato, the lowest market value along this railway was 14,242 JPY/sq.m. The market value represents a decrease of 14,602 JPY (-50.6%) compared to 1 year ago and a transition to a dramatic 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 Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2017)1 year ago2 years ago
Ichinoseki34,650 JPY (0.0Y/595.8sq.m)30,932 JPY (0.0Y/448.2sq.m)26,888 JPY (0.0Y/481.3sq.m)
Mataki--1,727 JPY (0.0Y/1100.0sq.m)
Rikuchuukannzaki-10,000 JPY (0.0Y/45.0sq.m)10,247 JPY (0.0Y/553.3sq.m)
Iwanoshita--6,000 JPY (0.0Y/80.0sq.m)
Rikuchuumatsukawa---
Geibikei-10,454 JPY (0.0Y/220.0sq.m)-
Shibajuku---
Surisawa16,666 JPY (0.0Y/300.0sq.m)-3,576 JPY (0.0Y/645.0sq.m)
Sennmaya-8,463 JPY (0.0Y/292.5sq.m)10,420 JPY (0.0Y/307.5sq.m)
Konashi500 JPY (0.0Y/400.0sq.m)--
Orikabe---
Niitsuki1,703 JPY (0.0Y/270.0sq.m)--
Takekoma-10,125 JPY (0.0Y/800.0sq.m)8,442 JPY (0.0Y/484.0sq.m)
Rikuzenntakata23,000 JPY (0.0Y/300.0sq.m)17,607 JPY (0.0Y/340.5sq.m)13,648 JPY (0.0Y/348.3sq.m)
Wakinosawa-10,990 JPY (0.0Y/320.4sq.m)16,694 JPY (0.0Y/475.0sq.m)
Otomo-10,211 JPY (0.0Y/475.6sq.m)8,063 JPY (0.0Y/318.6sq.m)
Hosoura-13,535 JPY (0.0Y/747.5sq.m)12,829 JPY (0.0Y/311.1sq.m)
Shimofunato--15,941 JPY (0.0Y/424.0sq.m)
Oofunato14,242 JPY (0.0Y/330.0sq.m)28,844 JPY (0.0Y/422.5sq.m)36,699 JPY (0.0Y/208.8sq.m)
Sakari-19,213 JPY (0.0Y/641.7sq.m)27,741 JPY (0.0Y/323.8sq.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 (+31% 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 5,393 JPY (+30.6%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 10 (-90.9%) 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 -11.9% decrease compared to the 340.5 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 14.8 min in 2016 and 12.0 min in 2017; -19.0%)

Oofunato14,242 JPY/sq.m (-51% compared with the previous year)

The average price of a sq.m Land of Oofunato was 14,242 JPY/sq.m. The market value represents a decrease of 14,602 JPY (-50.6%) compared to 1 year ago and a transition to a dramatic 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 330.0 sq.m (a -21.9% decrease compared to the 422.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 20.0 min in 2016 and 30.0 min in 2017; +50.0%)

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)