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, 2016 to Dec, 2016 was 40,429 JPY/sq.m. The market value represents a decrease of 19,287 JPY (-32.3%) compared to 1 year ago and a transition to a dramatic market. 129 properties exchanged hands ( The market value represents an increase of 19 (+17.3%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 586.1 sq.m (a +0.2% increase compared to the 584.6 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

2 stations have experienced increased prices; 2 stations have experienced decreased prices. The overall trend was the same as last year. 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 +30.1% compared to last year; a sq.m unit now costs 223,276 JPY/sq.m.

The top 1 stations has seen prices increase +30.1% (+51,689 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -59.6% (-17,879 JPY/sq.m).

Cause of price increases

  • An decrease in average distance from the station (representing 46.4 min in 2015 and 41.4 min in 2016; -10.7%)

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 223,276 JPY/sq.m. The market value represents an increase of 51,689 JPY (+30.1%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents a decrease of 16 (-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 10,805 JPY/sq.m. The market value represents a decrease of 1,214 JPY (-10.1%) compared to 1 year ago and a transition to a weak market. 30 properties exchanged hands ( The market value represents an increase of 9 (+42.9%) compared to 1 year ago and a transition to a dramatic market.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2016)1 year ago2 years ago
Shiroishizao12,121 JPY (0.0Y/660.0sq.m)30,000 JPY (0.0Y/290.0sq.m)19,047 JPY (0.0Y/630.0sq.m)
Sendai223,276 JPY (0.0Y/579.2sq.m)171,587 JPY (0.0Y/392.0sq.m)143,631 JPY (0.0Y/431.6sq.m)
Furukawa23,931 JPY (0.0Y/590.2sq.m)20,547 JPY (0.0Y/710.1sq.m)20,642 JPY (0.0Y/574.8sq.m)
Kurikoma-Kogen10,805 JPY (0.0Y/574.5sq.m)12,019 JPY (0.0Y/497.1sq.m)11,119 JPY (0.0Y/788.8sq.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

Sendai223,276 JPY/sq.m (+30% compared with the previous year)

The average price of a sq.m Land of Sendai was 223,276 JPY/sq.m. The market value represents an increase of 51,689 JPY (+30.1%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents a decrease of 16 (-57.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 579.2 sq.m (a +47.8% increase compared to the 392.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 51.9 min in 2015 and 38.2 min in 2016; -26.5%)

Shiroishizao12,121 JPY/sq.m (-60% compared with the previous year)

The average price of a sq.m Land of Shiroishizao was 12,121 JPY/sq.m. The market value represents a decrease of 17,879 JPY (-59.6%) 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 660.0 sq.m (a +127.6% increase compared to the 290.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 10.0 min in 2015 and 30.0 min in 2016; +200.0%)

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)