Sanriku Railway Kita-Riasu Line Land market overview

The average price of a sq.m Land of Sanriku Railway Kita-Riasu Line (Miyako to Kuji), in Oct, 2013 to Dec, 2013 was 18,991 JPY/sq.m. The market value represents a decrease of 5,736 JPY (-23.2%) compared to 1 year ago and a transition to a dramatic market. 54 properties exchanged hands ( The market value represents an increase of 17 (+45.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 373.8 sq.m (a -11.6% decrease compared to the 423.0 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.

3 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Miyako, Tarou station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Tarou station, where prices have increased +23.1% compared to last year; a sq.m unit now costs 13,984 JPY/sq.m.

The top 2 stations has seen prices increase +22.8% (+4,740 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -62.1% (-19,888 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 5.4% of total transactions in 2012 and 14.8% of total transactions in 2013)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 23.4 min in 2012 and 38.3 min in 2013; +63.5%)

Breakdown of each segment

The table below shows Land dealt in Sanriku Railway Kita-Riasu 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 Miyako, the highest market value along this railway was 37,401 JPY/sq.m. The market value represents an increase of 6,853 JPY (+22.4%) compared to 1 year ago and a transition to a dramatic market. 17 properties exchanged hands ( The market value represents an increase of 2 (+13.3%) compared to 1 year ago and a transition to a bull market.).

The average price of a sq.m Land of Ichinowatari, the lowest market value along this railway was 3,846 JPY/sq.m. The market value represents a decrease of 18,770 JPY (-83.0%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 4 (-80.0%) compared to 1 year ago and a transition to a dramatic market.).

Sanriku Railway Kita-Riasu Line (Stations Land market overview)
Sanriku Railway Kita-Riasu LineThis year(2013)1 year ago2 years ago
Miyako37,401 JPY (0.0Y/489.1sq.m)30,547 JPY (0.0Y/497.7sq.m)29,952 JPY (0.0Y/295.0sq.m)
Yamaguchidannchi30,000 JPY (0.0Y/200.0sq.m)51,007 JPY (0.0Y/303.3sq.m)-
Ichinowatari3,846 JPY (0.0Y/390.0sq.m)22,616 JPY (0.0Y/319.0sq.m)-
Tarou13,984 JPY (0.0Y/234.0sq.m)11,357 JPY (0.0Y/490.0sq.m)16,979 JPY (0.0Y/840.0sq.m)
Settai--14,777 JPY (0.0Y/330.0sq.m)
N/A---
Shimanokoshi-8,823 JPY (0.0Y/170.0sq.m)-
Tanohata4,848 JPY (0.0Y/311.7sq.m)--
Fudai-10,606 JPY (0.0Y/330.0sq.m)-
Horinai2,714 JPY (0.0Y/175.0sq.m)--
Rikuchuunoda13,692 JPY (0.0Y/650.0sq.m)12,399 JPY (0.0Y/391.7sq.m)15,487 JPY (0.0Y/1050.0sq.m)
Rikuchuuube7,979 JPY (0.0Y/290.0sq.m)--
Kuji14,497 JPY (0.0Y/397.5sq.m)21,895 JPY (0.0Y/361.0sq.m)19,994 JPY (0.0Y/396.2sq.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

Tarou13,984 JPY/sq.m (+23% compared with the previous year)

The average price of a sq.m Land of Tarou was 13,984 JPY/sq.m. The market value represents an increase of 2,626 JPY (+23.1%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 2 (+66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 234.0 sq.m (a -52.2% decrease compared to the 490.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 26.0 min in 2012 and 38.6 min in 2013; +48.5%)

Miyako37,401 JPY/sq.m (+22% compared with the previous year)

The average price of a sq.m Land of Miyako was 37,401 JPY/sq.m. The market value represents an increase of 6,853 JPY (+22.4%) compared to 1 year ago and a transition to a dramatic market. 17 properties exchanged hands ( The market value represents an increase of 2 (+13.3%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 489.1 sq.m (a -1.7% decrease compared to the 497.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 28.9 min in 2012 and 37.6 min in 2013; +30.4%)

Ichinowatari3,846 JPY/sq.m (-83% compared with the previous year)

The average price of a sq.m Land of Ichinowatari was 3,846 JPY/sq.m. The market value represents a decrease of 18,770 JPY (-83.0%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 4 (-80.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 390.0 sq.m (a +22.3% increase compared to the 319.0 sq.m of last year.).

Yamaguchidannchi30,000 JPY/sq.m (-41% compared with the previous year)

The average price of a sq.m Land of Yamaguchidannchi was 30,000 JPY/sq.m. The market value represents a decrease of 21,007 JPY (-41.2%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 200.0 sq.m (a -34.1% decrease compared to the 303.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 15.3 min in 2012 and 8.0 min in 2013; -47.8%)

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)