JR Rikuu East Line Miyagi 2017-1Q
Land market report

JR Rikuu East Line railway market report

JR Rikuu East Line Land market overview

The average price of a sq.m Land of JR Rikuu East Line (Kogota to Nakayamadairaonnsenn), in Jan, 2017 to Mar, 2017 was 12,999 JPY/sq.m. The market value represents a decrease of 5,948 JPY (-31.4%) compared to 1 year ago and a transition to a dramatic market. 14 properties exchanged hands ( The market value represents a decrease of 9 (-39.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 617.1 sq.m (a -1.5% decrease compared to the 626.7 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.

0 stations have experienced increased prices; 3 stations have experienced decreased prices. The market value decreased in all stations. Kogota station has seen a price decrease of over 20% compared to last year. The most dramatic price increase was at Nishifurukawa station, where prices have decreased -86.9% compared to last year; a sq.m unit now costs 3,030 JPY/sq.m.

The top 1 stations has seen prices increase -2.2% (-252 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -86.9% (-20,068 JPY/sq.m).

Cause of price increases

  • An decrease in average distance from the station (representing 35.3 min in 2016 and 31.2 min in 2017; -11.7%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 4.3% of total transactions in 2016 and 14.3% of total transactions in 2017)

Breakdown of each segment

The table below shows Land dealt in JR Rikuu East 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 Furukawa, the highest market value along this railway was 15,619 JPY/sq.m. The market value represents a decrease of 6,728 JPY (-30.1%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents a decrease of 4 (-28.6%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Nishifurukawa, the lowest market value along this railway was 3,030 JPY/sq.m. The market value represents a decrease of 20,068 JPY (-86.9%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

JR Rikuu East Line (Stations Land market overview)
JR Rikuu East LineThis year(2017)1 year ago2 years ago
Kogota11,178 JPY (0.0Y/242.5sq.m)11,430 JPY (0.0Y/535.0sq.m)17,780 JPY (0.0Y/290.0sq.m)
Kitaura---
Rikuzennyachi---
Furukawa15,619 JPY (0.0Y/716.5sq.m)22,346 JPY (0.0Y/671.4sq.m)23,881 JPY (0.0Y/731.1sq.m)
Tsukanome-17,092 JPY (0.0Y/246.7sq.m)26,448 JPY (0.0Y/440.0sq.m)
Nishifurukawa3,030 JPY (0.0Y/495.0sq.m)23,098 JPY (0.0Y/477.5sq.m)416 JPY (0.0Y/480.0sq.m)
Higashioosaki---
Nishioosaki---
Iwadeyama-2,222 JPY (0.0Y/450.0sq.m)16,666 JPY (0.0Y/300.0sq.m)
Yuubikann---
Kaminome---
Ikeduki---
Kawatabionnsenn---
Narukogotennyu---
Narukoonnsenn-3,777 JPY (0.0Y/1800.0sq.m)-
Nakayamadairaonnsenn---

*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

Kogota11,178 JPY/sq.m (-2% compared with the previous year)

The average price of a sq.m Land of Kogota was 11,178 JPY/sq.m. The market value represents a decrease of 252 JPY (-2.2%) compared to 1 year ago and a transition to a slight market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 242.5 sq.m (a -54.7% decrease compared to the 535.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 17.0 min in 2016 and 8.5 min in 2017; -50.0%)

Causes of price decreases

  • A slight decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 50.0% of total transactions in 2016 and 50.0% of total transactions in 2017)

Nishifurukawa3,030 JPY/sq.m (-87% compared with the previous year)

The average price of a sq.m Land of Nishifurukawa was 3,030 JPY/sq.m. The market value represents a decrease of 20,068 JPY (-86.9%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 495.0 sq.m (a +3.7% increase compared to the 477.5 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 75.0 min in 2016 and 61.5 min in 2017; -18.0%)

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)