Tohoku Shinkansen Miyagi 2015-1Q
Land market report

Tohoku Shinkansen railway market report

Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Shiroishizao to Kurikoma-Kogen), in Jan, 2015 to Mar, 2015 was 106,046 JPY/sq.m. The market value represents an increase of 60,809 JPY (+134.4%) compared to 1 year ago and a transition to a dramatic market. 27 properties exchanged hands ( The market value represents a decrease of 2 (-6.9%) compared to 1 year ago and a transition to a bear market.).

The average size of the real estate was 538.7 sq.m (a -16.4% decrease compared to the 644.3 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.

3 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was toward increased prices. Shiroishizao, Sendai 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 +82.9% compared to last year; a sq.m unit now costs 224,155 JPY/sq.m.

The top 1 stations has seen prices increase +82.9% (+101,569 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -4.8% (-595 JPY/sq.m).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 37.0 min in 2014 and 46.8 min in 2015; +26.3%)

Breakdown of each segment

The table below shows Land dealt in Tohoku Shinkansen, 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 224,155 JPY/sq.m. The market value represents an increase of 101,569 JPY (+82.9%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents an increase of 4 (+57.1%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Kurikoma-Kogen, the lowest market value along this railway was 11,740 JPY/sq.m. The market value represents a decrease of 595 JPY (-4.8%) compared to 1 year ago and a transition to a some market. 6 properties exchanged hands ( The market value represents a decrease of 3 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2015)1 year ago2 years ago
Shiroishizao30,000 JPY (0.0Y/290.0sq.m)19,047 JPY (0.0Y/630.0sq.m)17,308 JPY (0.0Y/175.0sq.m)
Sendai224,155 JPY (0.0Y/489.1sq.m)122,586 JPY (0.0Y/635.7sq.m)43,941 JPY (0.0Y/504.6sq.m)
Furukawa23,881 JPY (0.0Y/731.1sq.m)22,325 JPY (0.0Y/577.9sq.m)25,112 JPY (0.0Y/467.4sq.m)
Kurikoma-Kogen11,740 JPY (0.0Y/382.5sq.m)12,335 JPY (0.0Y/741.1sq.m)11,203 JPY (0.0Y/1015.0sq.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

Sendai224,155 JPY/sq.m (+83% compared with the previous year)

The average price of a sq.m Land of Sendai was 224,155 JPY/sq.m. The market value represents an increase of 101,569 JPY (+82.9%) compared to 1 year ago and a transition to a dramatic market. 11 properties exchanged hands ( The market value represents an increase of 4 (+57.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 489.1 sq.m (a -23.1% decrease compared to the 635.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 29.1 min in 2014 and 38.2 min in 2015; +31.0%)

Kurikoma-Kogen11,740 JPY/sq.m (-5% compared with the previous year)

The average price of a sq.m Land of Kurikoma-Kogen was 11,740 JPY/sq.m. The market value represents a decrease of 595 JPY (-4.8%) compared to 1 year ago and a transition to a some market. 6 properties exchanged hands ( The market value represents a decrease of 3 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 382.5 sq.m (a -48.4% decrease compared to the 741.1 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 61.3 min in 2014 and 90.0 min in 2015; +46.7%)

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)