Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2014 to Mar, 2014 was 137,219 JPY/sq.m. The market value represents an increase of 19,557 JPY (+16.6%) compared to 1 year ago and a transition to a bull market. 7 properties exchanged hands ( The market value represents a decrease of 41 (-85.4%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 182.1 sq.m (a -13.8% decrease compared to the 211.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively large size more than 100 sq.m.

4 stations have experienced increased prices; 0 stations have experienced decreased prices. Market value of most stations decreased. Akamine, Asato, Shuri station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Akamine station, where prices have increased +44.0% compared to last year; a sq.m unit now costs 120,000 JPY/sq.m.

The top 1 stations has seen prices increase +44.0% (+36,667 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +13.6% (+20,882 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 13.4 min in 2013 and 11.4 min in 2014; -14.7%)
  • An increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 12.5% of total transactions in 2013 and 14.3% of total transactions in 2014)

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 Miebashi, the highest market value along this railway was 173,913 JPY/sq.m. The market value represents an increase of 20,882 JPY (+13.6%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Asato, the lowest market value along this railway was 115,714 JPY/sq.m. The market value represents an increase of 35,001 JPY (+43.4%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2014)1 year ago2 years ago
Akamine120,000 JPY (0.0Y/150.0sq.m)83,333 JPY (0.0Y/120.0sq.m)-
Oroku130,434 JPY (0.0Y/230.0sq.m)-109,920 JPY (0.0Y/148.8sq.m)
Ounoyamakouenn-135,294 JPY (0.0Y/680.0sq.m)125,714 JPY (0.0Y/35.0sq.m)
Tsubogawa-63,333 JPY (0.0Y/100.0sq.m)133,333 JPY (0.0Y/1500.0sq.m)
Asahibashi--227,272 JPY (0.0Y/110.0sq.m)
Kennchoumae--149,615 JPY (0.0Y/132.5sq.m)
Miebashi173,913 JPY (0.0Y/230.0sq.m)153,031 JPY (0.0Y/336.7sq.m)153,768 JPY (0.0Y/590.0sq.m)
Makishi-123,394 JPY (0.0Y/90.0sq.m)152,835 JPY (0.0Y/190.0sq.m)
Asato115,714 JPY (0.0Y/245.0sq.m)80,713 JPY (0.0Y/162.0sq.m)113,747 JPY (0.0Y/100.8sq.m)
Omoromachi-160,493 JPY (0.0Y/810.0sq.m)160,635 JPY (0.0Y/322.0sq.m)
Furujima-180,000 JPY (0.0Y/250.0sq.m)175,611 JPY (0.0Y/150.0sq.m)
Shiritsubyouinnmae--195,721 JPY (0.0Y/195.0sq.m)
Gibo-138,844 JPY (0.0Y/172.5sq.m)67,739 JPY (0.0Y/331.7sq.m)
Shuri152,380 JPY (0.0Y/87.5sq.m)115,845 JPY (0.0Y/198.2sq.m)130,694 JPY (0.0Y/176.7sq.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

Akamine120,000 JPY/sq.m (+44% compared with the previous year)

The average price of a sq.m Land of Akamine was 120,000 JPY/sq.m. The market value represents an increase of 36,667 JPY (+44.0%) 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 150.0 sq.m (a +25.0% increase compared to the 120.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 19.0 min in 2013 and 10.0 min in 2014; -47.4%)

Miebashi173,913 JPY/sq.m (+14% compared with the previous year)

The average price of a sq.m Land of Miebashi was 173,913 JPY/sq.m. The market value represents an increase of 20,882 JPY (+13.6%) compared to 1 year ago and a transition to a bull market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 230.0 sq.m (a -31.7% decrease compared to the 336.7 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 10.7 min in 2013 and 6.0 min in 2014; -43.8%)

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)