JR Tohoku Main Line Miyagi 2016-4Q
Land market report

JR Tohoku Main Line railway market report

JR Tohoku Main Line Land market overview

The average price of a sq.m Land of JR Tohoku Main Line (Kosugou to Takagimachi), in Oct, 2016 to Dec, 2016 was 45,713 JPY/sq.m. The market value represents an increase of 4,262 JPY (+10.3%) compared to 1 year ago and a transition to a bull market. 106 properties exchanged hands ( The market value represents an increase of 58 (+120.8%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 409.4 sq.m (a -12.3% decrease compared to the 466.8 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was an increase in transactions involving very large size more than 200 sq.m.

12 stations have experienced increased prices; 7 stations have experienced decreased prices. Market value of most stations decreased. Tsukinoki, Minamisenndai, Sendai, Higashisenndai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Shiroishi station, where prices have increased +1114.4% compared to last year; a sq.m unit now costs 17,536 JPY/sq.m.

The top 2 stations has seen prices increase +625.1% (+9,292 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -39.2% (-19,268 JPY/sq.m).

Cause of price increases

  • An increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 4.2% of total transactions in 2015 and 4.7% of total transactions in 2016)

Causes of price decreases

  • A some decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 2.1% of total transactions in 2015 and 1.9% of total transactions in 2016)

Breakdown of each segment

The table below shows Land dealt in JR Tohoku Main 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 Higashishiroishi, the lowest market value along this railway was 4,326 JPY/sq.m. The market value represents an increase of 2,492 JPY (+135.8%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

JR Tohoku Main Line (Stations Land market overview)
JR Tohoku Main LineThis year(2016)1 year ago2 years ago
Kosugou---
Shiroishi17,536 JPY (0.0Y/388.9sq.m)1,444 JPY (0.0Y/450.0sq.m)22,400 JPY (0.0Y/250.0sq.m)
Higashishiroishi4,326 JPY (0.0Y/910.0sq.m)1,834 JPY (0.0Y/885.0sq.m)192 JPY (0.0Y/1300.0sq.m)
Kitashirakawa7,142 JPY (0.0Y/210.0sq.m)--
Oogawara19,193 JPY (0.0Y/560.0sq.m)29,920 JPY (0.0Y/275.0sq.m)10,531 JPY (0.0Y/420.0sq.m)
Funaoka40,450 JPY (0.0Y/634.0sq.m)36,969 JPY (0.0Y/165.0sq.m)29,738 JPY (0.0Y/486.7sq.m)
Tsukinoki30,286 JPY (0.0Y/285.0sq.m)22,727 JPY (0.0Y/220.0sq.m)20,909 JPY (0.0Y/160.0sq.m)
Iwanuma45,836 JPY (0.0Y/341.2sq.m)45,794 JPY (0.0Y/196.2sq.m)21,653 JPY (0.0Y/450.0sq.m)
Tatekoshi31,835 JPY (0.0Y/230.0sq.m)47,336 JPY (0.0Y/137.5sq.m)43,333 JPY (0.0Y/1105.0sq.m)
Natori49,105 JPY (0.0Y/243.8sq.m)53,489 JPY (0.0Y/469.2sq.m)48,798 JPY (0.0Y/345.8sq.m)
Minamisenndai52,420 JPY (0.0Y/280.0sq.m)32,318 JPY (0.0Y/236.7sq.m)39,018 JPY (0.0Y/383.3sq.m)
Taishidou125,353 JPY (0.0Y/307.5sq.m)-32,000 JPY (0.0Y/107.5sq.m)
Nagamachi81,818 JPY (0.0Y/220.0sq.m)--
Sendai313,399 JPY (0.0Y/220.0sq.m)183,333 JPY (0.0Y/808.3sq.m)155,674 JPY (0.0Y/343.9sq.m)
Higashisenndai103,451 JPY (0.0Y/296.7sq.m)68,312 JPY (0.0Y/157.5sq.m)-
Iwakiri54,006 JPY (0.0Y/402.5sq.m)51,058 JPY (0.0Y/323.3sq.m)72,474 JPY (0.0Y/365.0sq.m)
Rikuzennsannnou83,333 JPY (0.0Y/180.0sq.m)--
Kokufutagajou65,639 JPY (0.0Y/277.5sq.m)63,970 JPY (0.0Y/270.0sq.m)30,487 JPY (0.0Y/820.0sq.m)
Shiogama37,575 JPY (0.0Y/165.0sq.m)65,384 JPY (0.0Y/130.0sq.m)32,425 JPY (0.0Y/166.7sq.m)
Matsushima--37,500 JPY (0.0Y/400.0sq.m)
Atago13,344 JPY (0.0Y/246.7sq.m)--
Shinainuma---
Kashimadai18,097 JPY (0.0Y/633.8sq.m)22,608 JPY (0.0Y/830.0sq.m)10,927 JPY (0.0Y/400.0sq.m)
Matsuyamamachi---
Kogota12,432 JPY (0.0Y/370.0sq.m)12,050 JPY (0.0Y/484.0sq.m)18,722 JPY (0.0Y/406.7sq.m)
Tajiri2,801 JPY (0.0Y/1115.0sq.m)--
Semine4,960 JPY (0.0Y/727.5sq.m)2,173 JPY (0.0Y/460.0sq.m)10,368 JPY (0.0Y/316.2sq.m)
Umegasawa---
Nitta10,847 JPY (0.0Y/275.0sq.m)12,630 JPY (0.0Y/485.0sq.m)19,029 JPY (0.0Y/204.3sq.m)
Ishikoshi7,500 JPY (0.0Y/400.0sq.m)--
Arikabe---
Takagimachi29,746 JPY (0.0Y/255.0sq.m)36,956 JPY (0.0Y/920.0sq.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

Shiroishi17,536 JPY/sq.m (+1114% compared with the previous year)

The average price of a sq.m Land of Shiroishi was 17,536 JPY/sq.m. The market value represents an increase of 16,092 JPY (+1114.4%) compared to 1 year ago and a transition to a dramatic 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 388.9 sq.m (a -13.6% decrease compared to the 450.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 24.0 min in 2015 and 17.4 min in 2016; -27.3%)

Higashishiroishi4,326 JPY/sq.m (+136% compared with the previous year)

The average price of a sq.m Land of Higashishiroishi was 4,326 JPY/sq.m. The market value represents an increase of 2,492 JPY (+135.8%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 910.0 sq.m (a +2.8% increase compared to the 885.0 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 48.7 min in 2015 and 54.0 min in 2016; +11.0%)

Shiogama37,575 JPY/sq.m (-43% compared with the previous year)

The average price of a sq.m Land of Shiogama was 37,575 JPY/sq.m. The market value represents a decrease of 27,809 JPY (-42.5%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 165.0 sq.m (a +26.9% increase compared to the 130.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 3.0 min in 2015 and 10.0 min in 2016; +233.3%)

Oogawara19,193 JPY/sq.m (-36% compared with the previous year)

The average price of a sq.m Land of Oogawara was 19,193 JPY/sq.m. The market value represents a decrease of 10,727 JPY (-35.9%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 8 (+400.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 560.0 sq.m (a +103.6% increase compared to the 275.0 sq.m of last year.).


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)