JR Senzan line Miyagi 2016-4Q
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, 2016 to Dec, 2016 was 85,304 JPY/sq.m. The market value represents an increase of 16,192 JPY (+23.4%) compared to 1 year ago and a transition to a dramatic market. 52 properties exchanged hands ( The market value represents an increase of 28 (+116.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 360.1 sq.m (a +5.1% increase compared to the 342.5 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.

5 stations have experienced increased prices; 3 stations have experienced decreased prices. The overall trend was the same as last year. Sendai, Kitayama, Kunimi station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Touhokufukushidaimae station, where prices have increased +248.6% compared to last year; a sq.m unit now costs 124,308 JPY/sq.m.

The top 2 stations has seen prices increase +159.8% (+109,356 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -28.2% (-31,940 JPY/sq.m).

Causes of price decreases

  • An increase in average distance from the station (representing 20.2 min in 2015 and 23.3 min in 2016; +15.1%)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 8.3% of total transactions in 2015 and 5.8% of total transactions in 2016)

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 313,399 JPY/sq.m. The market value represents an increase of 130,066 JPY (+70.9%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 1 (+33.3%) 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 41,477 JPY/sq.m. The market value represents a decrease of 1,861 JPY (-4.3%) compared to 1 year ago and a transition to a some market. 12 properties exchanged hands ( The market value represents an increase of 6 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Senzan line (Stations Land market overview)
JR Senzan lineThis year(2016)1 year ago2 years ago
Sendai313,399 JPY (0.0Y/220.0sq.m)183,333 JPY (0.0Y/808.3sq.m)155,674 JPY (0.0Y/343.9sq.m)
Toushouguu59,625 JPY (0.0Y/205.0sq.m)116,658 JPY (0.0Y/170.0sq.m)76,986 JPY (0.0Y/408.8sq.m)
Kitasenndai85,460 JPY (0.0Y/272.8sq.m)92,307 JPY (0.0Y/195.0sq.m)62,069 JPY (0.0Y/171.4sq.m)
Kitayama69,577 JPY (0.0Y/340.6sq.m)54,141 JPY (0.0Y/283.3sq.m)56,583 JPY (0.0Y/570.0sq.m)
Touhokufukushidaimae124,308 JPY (0.0Y/164.2sq.m)35,663 JPY (0.0Y/210.0sq.m)-
Kunimi73,684 JPY (0.0Y/1900.0sq.m)45,248 JPY (0.0Y/170.0sq.m)63,640 JPY (0.0Y/300.0sq.m)
Kuzuoka13,844 JPY (0.0Y/270.0sq.m)--
Rikuzennochiai43,830 JPY (0.0Y/485.7sq.m)39,026 JPY (0.0Y/285.0sq.m)45,818 JPY (0.0Y/310.0sq.m)
Ayashi41,477 JPY (0.0Y/428.3sq.m)43,338 JPY (0.0Y/306.7sq.m)37,740 JPY (0.0Y/312.7sq.m)
Rikuzennshirasawa-1,666 JPY (0.0Y/900.0sq.m)12,121 JPY (0.0Y/660.0sq.m)
Kumagane172 JPY (0.0Y/290.0sq.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

Touhokufukushidaimae124,308 JPY/sq.m (+249% compared with the previous year)

The average price of a sq.m Land of Touhokufukushidaimae was 124,308 JPY/sq.m. The market value represents an increase of 88,645 JPY (+248.6%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 4 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 164.2 sq.m (a -21.8% decrease compared to the 210.0 sq.m of last year.).

Sendai313,399 JPY/sq.m (+71% compared with the previous year)

The average price of a sq.m Land of Sendai was 313,399 JPY/sq.m. The market value represents an increase of 130,066 JPY (+70.9%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 1 (+33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 220.0 sq.m (a -72.8% decrease compared to the 808.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 29.7 min in 2015 and 10.5 min in 2016; -64.6%)

Toushouguu59,625 JPY/sq.m (-49% compared with the previous year)

The average price of a sq.m Land of Toushouguu was 59,625 JPY/sq.m. The market value represents a decrease of 57,033 JPY (-48.9%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 205.0 sq.m (a +20.6% increase compared to the 170.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 8.5 min in 2015 and 17.0 min in 2016; +100.0%)

Kitasenndai85,460 JPY/sq.m (-7% compared with the previous year)

The average price of a sq.m Land of Kitasenndai was 85,460 JPY/sq.m. The market value represents a decrease of 6,847 JPY (-7.4%) compared to 1 year ago and a transition to a bear market. 9 properties exchanged hands ( The market value represents an increase of 8 (+800.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 272.8 sq.m (a +39.9% increase compared to the 195.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 30.0 min in 2015 and 24.3 min in 2016; -18.9%)

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)