Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2013 to Dec, 2013 was 129,979 JPY/sq.m. The market value represents an increase of 55 JPY (+0.0%) compared to 1 year ago and a transition to a slight market. 119 properties exchanged hands ( The market value represents a decrease of 35 (-22.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 304.8 sq.m (a -6.8% decrease compared to the 327.1 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.

9 stations have experienced increased prices; 4 stations have experienced decreased prices. The overall trend was toward increased prices. Akamine, Ounoyamakouenn, Asahibashi, Kennchoumae, Gibo station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kennchoumae station, where prices have increased +99.2% compared to last year; a sq.m unit now costs 304,286 JPY/sq.m.

The top 2 stations has seen prices increase +84.0% (+98,405 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -12.8% (-19,992 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 7.8% of total transactions in 2012 and 12.6% of total transactions in 2013)

Causes of price decreases

  • A slight decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 2.6% of total transactions in 2012 and 2.5% of total transactions in 2013)

Breakdown of each segment

The table below shows Land dealt in Okinawa Monorail, 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:

Top

Land stations market overview

The average price of a sq.m Land of Kennchoumae, the highest market value along this railway was 304,286 JPY/sq.m. The market value represents an increase of 151,515 JPY (+99.2%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 6 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Akamine, the lowest market value along this railway was 99,525 JPY/sq.m. The market value represents an increase of 18,444 JPY (+22.7%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 1 (+11.1%) compared to 1 year ago and a transition to a bull market.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2013)1 year ago2 years ago
Akamine99,525 JPY (0.0Y/554.5sq.m)81,081 JPY (0.0Y/324.4sq.m)86,966 JPY (0.0Y/435.0sq.m)
Oroku142,012 JPY (0.0Y/178.3sq.m)120,145 JPY (0.0Y/143.3sq.m)103,170 JPY (0.0Y/168.0sq.m)
Ounoyamakouenn153,900 JPY (0.0Y/808.3sq.m)96,186 JPY (0.0Y/297.5sq.m)103,041 JPY (0.0Y/180.0sq.m)
Tsubogawa126,164 JPY (0.0Y/252.0sq.m)140,960 JPY (0.0Y/812.8sq.m)129,138 JPY (0.0Y/187.5sq.m)
Asahibashi263,795 JPY (0.0Y/557.5sq.m)168,363 JPY (0.0Y/551.0sq.m)190,151 JPY (0.0Y/192.5sq.m)
Kennchoumae304,286 JPY (0.0Y/595.0sq.m)152,770 JPY (0.0Y/366.9sq.m)155,308 JPY (0.0Y/181.4sq.m)
Miebashi155,929 JPY (0.0Y/215.7sq.m)164,643 JPY (0.0Y/506.5sq.m)238,866 JPY (0.0Y/428.3sq.m)
Makishi148,956 JPY (0.0Y/352.1sq.m)147,003 JPY (0.0Y/431.4sq.m)146,537 JPY (0.0Y/149.4sq.m)
Asato116,492 JPY (0.0Y/155.0sq.m)116,985 JPY (0.0Y/186.7sq.m)107,488 JPY (0.0Y/228.8sq.m)
Omoromachi187,164 JPY (0.0Y/317.0sq.m)160,020 JPY (0.0Y/304.7sq.m)194,598 JPY (0.0Y/274.3sq.m)
Furujima141,267 JPY (0.0Y/166.7sq.m)166,454 JPY (0.0Y/277.3sq.m)150,586 JPY (0.0Y/233.8sq.m)
Shiritsubyouinnmae-127,900 JPY (0.0Y/165.0sq.m)122,166 JPY (0.0Y/179.0sq.m)
Gibo111,014 JPY (0.0Y/340.5sq.m)65,719 JPY (0.0Y/467.9sq.m)86,106 JPY (0.0Y/242.0sq.m)
Shuri113,962 JPY (0.0Y/268.2sq.m)113,440 JPY (0.0Y/200.2sq.m)96,363 JPY (0.0Y/331.5sq.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.
Top

Noteworthy stations

Kennchoumae304,286 JPY/sq.m (+99% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 304,286 JPY/sq.m. The market value represents an increase of 151,515 JPY (+99.2%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 6 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 595.0 sq.m (a +62.2% increase compared to the 366.9 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 12.6 min in 2012 and 8.0 min in 2013; -36.6%)

Gibo111,014 JPY/sq.m (+69% compared with the previous year)

The average price of a sq.m Land of Gibo was 111,014 JPY/sq.m. The market value represents an increase of 45,295 JPY (+68.9%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 3 (+42.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 340.5 sq.m (a -27.2% decrease compared to the 467.9 sq.m of last year.).

Furujima141,267 JPY/sq.m (-15% compared with the previous year)

The average price of a sq.m Land of Furujima was 141,267 JPY/sq.m. The market value represents a decrease of 25,188 JPY (-15.1%) compared to 1 year ago and a transition to a weak market. 3 properties exchanged hands ( The market value represents a decrease of 8 (-72.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 166.7 sq.m (a -39.9% decrease compared to the 277.3 sq.m of last year.).

Causes of price decreases

  • An increase in average distance from the station (representing 19.3 min in 2012 and 21.7 min in 2013; +12.4%)

Tsubogawa126,164 JPY/sq.m (-10% compared with the previous year)

The average price of a sq.m Land of Tsubogawa was 126,164 JPY/sq.m. The market value represents a decrease of 14,796 JPY (-10.5%) compared to 1 year ago and a transition to a weak market. 10 properties exchanged hands ( The market value represents an increase of 1 (+11.1%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 252.0 sq.m (a -69.0% decrease compared to the 812.8 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 17.0 min in 2012 and 14.5 min in 2013; -14.7%)

Causes of price decreases

  • A some decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 11.1% of total transactions in 2012 and 10.0% of total transactions in 2013)

Breakdown of each segment

Station:   Segment:

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)