JR Senseki Line Miyagi 2015-3Q
Land market report

JR Senseki Line railway market report

JR Senseki Line Land market overview

The average price of a sq.m Land of JR Senseki Line (Aobadoori to Ishinomaki), in Jul, 2015 to Sep, 2015 was 53,051 JPY/sq.m. The market value represents a decrease of 7,143 JPY (-11.9%) compared to 1 year ago and a transition to a weak market. 70 properties exchanged hands ( The market value represents a decrease of 25 (-26.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 391.3 sq.m (a -25.4% decrease compared to the 524.3 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving size for a general family households less than 100 sq.m.

5 stations have experienced increased prices; 9 stations have experienced decreased prices. Market value of most stations decreased. Nakanosakae, Tagajou, Yamoto, Rikuzennyamashita station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Tagajou station, where prices have increased +82.3% compared to last year; a sq.m unit now costs 63,627 JPY/sq.m.

The top 2 stations has seen prices increase +65.0% (+21,073 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -67.5% (-54,945 JPY/sq.m).

Cause of price increases

  • A slight 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 2014 and 4.3% of total transactions in 2015)

Breakdown of each segment

The table below shows Land dealt in JR Senseki 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 Sendai, the highest market value along this railway was 146,909 JPY/sq.m. The market value represents a decrease of 15,500 JPY (-9.5%) compared to 1 year ago and a transition to a bear market. 7 properties exchanged hands ( The market value represents a decrease of 6 (-46.2%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Geba, the lowest market value along this railway was 11,391 JPY/sq.m. The market value represents a decrease of 25,410 JPY (-69.0%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Senseki Line (Stations Land market overview)
JR Senseki LineThis year(2015)1 year ago2 years ago
Aobadoori---
Sendai146,909 JPY (0.0Y/219.3sq.m)162,410 JPY (0.0Y/400.4sq.m)92,259 JPY (0.0Y/351.1sq.m)
Tsutsujigaoka-324,470 JPY (0.0Y/295.0sq.m)285,714 JPY (0.0Y/1400.0sq.m)
Miyaginohara43,750 JPY (0.0Y/160.0sq.m)128,230 JPY (0.0Y/260.0sq.m)92,753 JPY (0.0Y/690.0sq.m)
Rikuzennharanomachi79,682 JPY (0.0Y/740.0sq.m)89,655 JPY (0.0Y/145.0sq.m)-
Nigatake-31,428 JPY (0.0Y/70.0sq.m)-
Kodurushinndenn48,051 JPY (0.0Y/770.0sq.m)121,739 JPY (0.0Y/115.0sq.m)40,000 JPY (0.0Y/500.0sq.m)
Fukudamachi73,352 JPY (0.0Y/661.7sq.m)-28,975 JPY (0.0Y/930.0sq.m)
Rikuzenntakasago62,720 JPY (0.0Y/404.4sq.m)65,126 JPY (0.0Y/674.0sq.m)33,842 JPY (0.0Y/551.8sq.m)
Nakanosakae75,372 JPY (0.0Y/245.0sq.m)56,410 JPY (0.0Y/195.0sq.m)61,780 JPY (0.0Y/904.4sq.m)
Tagajou63,627 JPY (0.0Y/235.0sq.m)34,902 JPY (0.0Y/532.8sq.m)41,208 JPY (0.0Y/560.0sq.m)
Geba11,391 JPY (0.0Y/246.2sq.m)36,801 JPY (0.0Y/279.0sq.m)19,627 JPY (0.0Y/309.6sq.m)
Nishishiogama44,827 JPY (0.0Y/290.0sq.m)-34,523 JPY (0.0Y/840.0sq.m)
Honnshiogama22,000 JPY (0.0Y/740.0sq.m)25,686 JPY (0.0Y/1131.2sq.m)37,253 JPY (0.0Y/229.3sq.m)
Higashishiogama-27,913 JPY (0.0Y/590.0sq.m)22,458 JPY (0.0Y/810.0sq.m)
Rikuzennhamada---
Matsushimakaigann---
Takagimachi26,896 JPY (0.0Y/290.0sq.m)26,375 JPY (0.0Y/223.3sq.m)-
Tetaru-11,025 JPY (0.0Y/1140.0sq.m)-
Touna---
Nobiru---
Rikuzennono-7,145 JPY (0.0Y/835.0sq.m)16,010 JPY (0.0Y/332.5sq.m)
Kaduma---
Yamoto26,454 JPY (0.0Y/362.5sq.m)19,016 JPY (0.0Y/1154.3sq.m)26,289 JPY (0.0Y/483.3sq.m)
Higashiyamoto26,741 JPY (0.0Y/306.7sq.m)-23,462 JPY (0.0Y/728.3sq.m)
Rikuzennakai-12,735 JPY (0.0Y/568.0sq.m)33,314 JPY (0.0Y/708.1sq.m)
N/A---
Hebita28,765 JPY (0.0Y/545.6sq.m)42,855 JPY (0.0Y/256.7sq.m)43,639 JPY (0.0Y/466.4sq.m)
Rikuzennyamashita41,572 JPY (0.0Y/230.0sq.m)28,152 JPY (0.0Y/265.0sq.m)43,130 JPY (0.0Y/250.8sq.m)
Ishinomaki21,414 JPY (0.0Y/228.9sq.m)38,873 JPY (0.0Y/337.1sq.m)28,355 JPY (0.0Y/373.9sq.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

Tagajou63,627 JPY/sq.m (+82% compared with the previous year)

The average price of a sq.m Land of Tagajou was 63,627 JPY/sq.m. The market value represents an increase of 28,725 JPY (+82.3%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 7 (-77.8%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 235.0 sq.m (a -55.9% decrease compared to the 532.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 17.5 min in 2014 and 11.5 min in 2015; -34.3%)

Rikuzennyamashita41,572 JPY/sq.m (+48% compared with the previous year)

The average price of a sq.m Land of Rikuzennyamashita was 41,572 JPY/sq.m. The market value represents an increase of 13,421 JPY (+47.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 3 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 230.0 sq.m (a -13.2% decrease compared to the 265.0 sq.m of last year.).

Geba11,391 JPY/sq.m (-69% compared with the previous year)

The average price of a sq.m Land of Geba was 11,391 JPY/sq.m. The market value represents a decrease of 25,410 JPY (-69.0%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 246.2 sq.m (a -11.7% decrease compared to the 279.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 33.8 min in 2014 and 47.2 min in 2015; +39.8%)

Miyaginohara43,750 JPY/sq.m (-66% compared with the previous year)

The average price of a sq.m Land of Miyaginohara was 43,750 JPY/sq.m. The market value represents a decrease of 84,480 JPY (-65.9%) 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 160.0 sq.m (a -38.5% decrease compared to the 260.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 10.0 min in 2014 and 15.0 min in 2015; +50.0%)

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)