JR Rifu Line Miyagi 2016-1Q
Land market report

JR Rifu Line railway market report

JR Rifu Line Land market overview

The average price of a sq.m Land of JR Rifu Line (Iwakiri to Rifu), in Jan, 2016 to Mar, 2016 was 40,502 JPY/sq.m. The market value represents a decrease of 15,744 JPY (-28.0%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 3 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 271.7 sq.m (a -60.4% decrease compared to the 686.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

0 stations have experienced increased prices; 2 stations have experienced decreased prices. The market value decreased in all stations. Rifu station has seen a price decrease of over 5% compared to last year. The most dramatic price increase was at Iwakiri station, where prices have decreased -21.7% compared to last year; a sq.m unit now costs 48,571 JPY/sq.m.

The top 1 stations has seen prices increase -13.1% (-5,848 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -21.7% (-13,429 JPY/sq.m).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 21.3 min in 2015 and 29.2 min in 2016; +36.7%)

Breakdown of each segment

The table below shows Land dealt in JR Rifu 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:

※各年ごとの取引件数の割合が高いセグメントほど赤く表示

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Land stations market overview

The average price of a sq.m Land of Iwakiri, the highest market value along this railway was 48,571 JPY/sq.m. The market value represents a decrease of 13,429 JPY (-21.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Rifu, the lowest market value along this railway was 38,888 JPY/sq.m. The market value represents a decrease of 5,848 JPY (-13.1%) compared to 1 year ago and a transition to a weak market. 5 properties exchanged hands ( The market value represents an increase of 4 (+400.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Rifu Line (Stations Land market overview)
JR Rifu LineThis year(2016)1 year ago2 years ago
Iwakiri48,571 JPY (0.0Y/350.0sq.m)62,000 JPY (0.0Y/650.0sq.m)47,380 JPY (0.0Y/352.5sq.m)
Shinnrifu--30,000 JPY (0.0Y/1900.0sq.m)
Rifu38,888 JPY (0.0Y/256.0sq.m)44,736 JPY (0.0Y/760.0sq.m)52,071 JPY (0.0Y/277.5sq.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.

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Noteworthy stations

Rifu38,888 JPY/sq.m (-13% compared with the previous year)

The average price of a sq.m Land of Rifu was 38,888 JPY/sq.m. The market value represents a decrease of 5,848 JPY (-13.1%) compared to 1 year ago and a transition to a weak market. 5 properties exchanged hands ( The market value represents an increase of 4 (+400.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 256.0 sq.m (a -66.3% decrease compared to the 760.0 sq.m of last year.).

Iwakiri48,571 JPY/sq.m (-22% compared with the previous year)

The average price of a sq.m Land of Iwakiri was 48,571 JPY/sq.m. The market value represents a decrease of 13,429 JPY (-21.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 350.0 sq.m (a -46.2% decrease compared to the 650.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 17.0 min in 2015 and 28.0 min in 2016; +64.7%)

Breakdown of each segment

Station:   Segment:

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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)