JR Senzan line Miyagi 2014-4Q
Land market report

JR Senzan line railway market report

JR Senzan line Land market overview

The average price of a sq.m Land of JR Senzan line (Sendai to Sakunami), in Oct, 2014 to Dec, 2014 was 71,603 JPY/sq.m. The market value represents an increase of 25,509 JPY (+55.3%) compared to 1 year ago and a transition to a dramatic market. 47 properties exchanged hands ( The market value represents a decrease of 22 (-31.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 339.4 sq.m (a -16.8% decrease compared to the 408.1 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.

7 stations have experienced increased prices; 0 stations have experienced decreased prices. The overall trend was the same as last year. Rikuzennochiai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Sendai station, where prices have increased +142.7% compared to last year; a sq.m unit now costs 155,674 JPY/sq.m.

The top 2 stations has seen prices increase +96.4% (+53,416 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease +8.0% (+3,240 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 4.3% of total transactions in 2013 and 12.8% of total transactions in 2014)

Breakdown of each segment

The table below shows Land dealt in JR Senzan 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 155,674 JPY/sq.m. The market value represents an increase of 91,536 JPY (+142.7%) compared to 1 year ago and a transition to a dramatic market. 9 properties exchanged hands ( The market value represents a decrease of 6 (-40.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Ayashi, the lowest market value along this railway was 37,740 JPY/sq.m. The market value represents an increase of 3,681 JPY (+10.8%) compared to 1 year ago and a transition to a bull market. 11 properties exchanged hands ( The market value represents a decrease of 8 (-42.1%) compared to 1 year ago and a transition to a dramatic market.).

JR Senzan line (Stations Land market overview)
JR Senzan lineThis year(2014)1 year ago2 years ago
Sendai155,674 JPY (0.0Y/343.9sq.m)64,139 JPY (0.0Y/364.3sq.m)63,901 JPY (0.0Y/655.9sq.m)
Toushouguu76,986 JPY (0.0Y/408.8sq.m)64,425 JPY (0.0Y/185.0sq.m)63,149 JPY (0.0Y/256.2sq.m)
Kitasenndai62,069 JPY (0.0Y/171.4sq.m)54,952 JPY (0.0Y/275.0sq.m)60,456 JPY (0.0Y/202.5sq.m)
Kitayama56,583 JPY (0.0Y/570.0sq.m)53,784 JPY (0.0Y/198.0sq.m)40,187 JPY (0.0Y/360.6sq.m)
Touhokufukushidaimae-59,201 JPY (0.0Y/376.7sq.m)53,340 JPY (0.0Y/320.0sq.m)
Kunimi63,640 JPY (0.0Y/300.0sq.m)55,263 JPY (0.0Y/380.0sq.m)59,459 JPY (0.0Y/370.0sq.m)
Kuzuoka--25,920 JPY (0.0Y/345.0sq.m)
Rikuzennochiai45,818 JPY (0.0Y/310.0sq.m)30,521 JPY (0.0Y/552.4sq.m)21,900 JPY (0.0Y/312.2sq.m)
Ayashi37,740 JPY (0.0Y/312.7sq.m)34,060 JPY (0.0Y/452.6sq.m)28,237 JPY (0.0Y/562.2sq.m)
Rikuzennshirasawa12,121 JPY (0.0Y/660.0sq.m)--
Kumagane--3,571 JPY (0.0Y/280.0sq.m)
Sakunami---

*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

Sendai155,674 JPY/sq.m (+143% compared with the previous year)

The average price of a sq.m Land of Sendai was 155,674 JPY/sq.m. The market value represents an increase of 91,536 JPY (+142.7%) compared to 1 year ago and a transition to a dramatic market. 9 properties exchanged hands ( The market value represents a decrease of 6 (-40.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 343.9 sq.m (a -5.6% decrease compared to the 364.3 sq.m of last year.).

Rikuzennochiai45,818 JPY/sq.m (+50% compared with the previous year)

The average price of a sq.m Land of Rikuzennochiai was 45,818 JPY/sq.m. The market value represents an increase of 15,297 JPY (+50.1%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents a decrease of 10 (-58.8%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 310.0 sq.m (a -43.9% decrease compared to the 552.4 sq.m of last year.).

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 5.9% of total transactions in 2013 and 14.3% of total transactions in 2014)

Kitayama56,583 JPY/sq.m (+5% compared with the previous year)

The average price of a sq.m Land of Kitayama was 56,583 JPY/sq.m. The market value represents an increase of 2,799 JPY (+5.2%) compared to 1 year ago and a transition to a strong market. 5 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 570.0 sq.m (a +187.9% increase compared to the 198.0 sq.m of last year.).

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 20.0% of total transactions in 2013 and 20.0% of total transactions in 2014)

Ayashi37,740 JPY/sq.m (+11% compared with the previous year)

The average price of a sq.m Land of Ayashi was 37,740 JPY/sq.m. The market value represents an increase of 3,681 JPY (+10.8%) compared to 1 year ago and a transition to a bull market. 11 properties exchanged hands ( The market value represents a decrease of 8 (-42.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 312.7 sq.m (a -30.9% decrease compared to the 452.6 sq.m of last year.).

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 5.3% of total transactions in 2013 and 18.2% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 22.5 min in 2013 and 28.3 min in 2014; +25.8%)

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)