Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jul, 2014 to Sep, 2014 was 125,910 JPY/sq.m. The market value represents a decrease of 8,418 JPY (-6.3%) compared to 1 year ago and a transition to a bear market. 22 properties exchanged hands ( The market value represents a decrease of 8 (-26.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 350.9 sq.m (a -10.0% decrease compared to the 389.8 sq.m of last year.).

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

3 stations have experienced increased prices; 4 stations have experienced decreased prices. Market value of most stations decreased. Tsubogawa station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Gibo station, where prices have increased +588.1% compared to last year; a sq.m unit now costs 57,341 JPY/sq.m.

The top 2 stations has seen prices increase +304.4% (+37,834 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -38.4% (-88,855 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 3.3% of total transactions in 2013 and 4.5% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 14.2 min in 2013 and 17.0 min in 2014; +20.3%)
  • An decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 16.7% of total transactions in 2013 and 13.6% 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 Kennchoumae, the highest market value along this railway was 171,428 JPY/sq.m. The market value represents a decrease of 132,858 JPY (-43.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Gibo, the lowest market value along this railway was 57,341 JPY/sq.m. The market value represents an increase of 49,008 JPY (+588.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) 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
Akamine111,428 JPY (0.0Y/700.0sq.m)114,256 JPY (0.0Y/511.7sq.m)133,333 JPY (0.0Y/390.0sq.m)
Oroku54,054 JPY (0.0Y/185.0sq.m)-142,857 JPY (0.0Y/70.0sq.m)
Ounoyamakouenn90,441 JPY (0.0Y/298.3sq.m)135,294 JPY (0.0Y/1700.0sq.m)106,598 JPY (0.0Y/705.0sq.m)
Tsubogawa155,502 JPY (0.0Y/792.5sq.m)128,841 JPY (0.0Y/152.5sq.m)126,794 JPY (0.0Y/177.5sq.m)
Asahibashi-169,696 JPY (0.0Y/165.0sq.m)171,738 JPY (0.0Y/230.0sq.m)
Kennchoumae171,428 JPY (0.0Y/105.0sq.m)304,286 JPY (0.0Y/595.0sq.m)173,484 JPY (0.0Y/796.7sq.m)
Miebashi-160,804 JPY (0.0Y/133.3sq.m)211,538 JPY (0.0Y/520.0sq.m)
Makishi167,534 JPY (0.0Y/430.0sq.m)-177,272 JPY (0.0Y/295.0sq.m)
Asato109,743 JPY (0.0Y/55.0sq.m)143,720 JPY (0.0Y/145.7sq.m)140,783 JPY (0.0Y/316.0sq.m)
Omoromachi213,786 JPY (0.0Y/250.0sq.m)-163,073 JPY (0.0Y/221.0sq.m)
Furujima151,785 JPY (0.0Y/560.0sq.m)-140,408 JPY (0.0Y/373.8sq.m)
Shiritsubyouinnmae---
Gibo57,341 JPY (0.0Y/335.0sq.m)8,333 JPY (0.0Y/600.0sq.m)48,387 JPY (0.0Y/310.0sq.m)
Shuri97,104 JPY (0.0Y/325.0sq.m)89,579 JPY (0.0Y/559.4sq.m)123,799 JPY (0.0Y/148.0sq.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.
Top

Noteworthy stations

Gibo57,341 JPY/sq.m (+588% compared with the previous year)

The average price of a sq.m Land of Gibo was 57,341 JPY/sq.m. The market value represents an increase of 49,008 JPY (+588.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 335.0 sq.m (a -44.2% decrease compared to the 600.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.0 min in 2013 and 68.0 min in 2014; +518.2%)

Tsubogawa155,502 JPY/sq.m (+21% compared with the previous year)

The average price of a sq.m Land of Tsubogawa was 155,502 JPY/sq.m. The market value represents an increase of 26,660 JPY (+20.7%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 792.5 sq.m (a +419.7% increase compared to the 152.5 sq.m of last year.).

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 25.0% of total transactions in 2013 and 50.0% of total transactions in 2014)

Causes of price decreases

  • An increase in average distance from the station (representing 15.0 min in 2013 and 17.0 min in 2014; +13.3%)

Kennchoumae171,428 JPY/sq.m (-44% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 171,428 JPY/sq.m. The market value represents a decrease of 132,858 JPY (-43.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 1 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 105.0 sq.m (a -82.4% decrease compared to the 595.0 sq.m of last year.).

Ounoyamakouenn90,441 JPY/sq.m (-33% compared with the previous year)

The average price of a sq.m Land of Ounoyamakouenn was 90,441 JPY/sq.m. The market value represents a decrease of 44,853 JPY (-33.2%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 298.3 sq.m (a -82.5% decrease compared to the 1700.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 30.0 min in 2013 and 8.7 min in 2014; -71.1%)

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)