Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2014 to Dec, 2014 was 133,378 JPY/sq.m. The market value represents an increase of 3,399 JPY (+2.6%) compared to 1 year ago and a transition to a slight market. 51 properties exchanged hands ( The market value represents a decrease of 68 (-57.1%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 359.9 sq.m (a +18.1% increase compared to the 304.8 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.

4 stations have experienced increased prices; 9 stations have experienced decreased prices. Market value of most stations decreased. Miebashi station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Miebashi station, where prices have increased +33.0% compared to last year; a sq.m unit now costs 207,326 JPY/sq.m.

The top 2 stations has seen prices increase +21.5% (+35,013 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -41.0% (-71,234 JPY/sq.m).


Cause of price increases

  • A some increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 12.6% of total transactions in 2013 and 13.7% of total transactions in 2014)

Causes of price decreases

  • An increase in average distance from the station (representing 13.8 min in 2013 and 15.3 min in 2014; +10.8%)
  • A dramatic decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 2.5% of total transactions in 2013 and 2.0% 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 293,325 JPY/sq.m. The market value represents a decrease of 10,960 JPY (-3.6%) compared to 1 year ago and a transition to a some market. 3 properties exchanged hands ( The market value represents an increase 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 a decrease of 53,673 JPY (-48.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 7 (-70.0%) 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
Akamine105,944 JPY (0.0Y/466.7sq.m)99,525 JPY (0.0Y/554.5sq.m)81,081 JPY (0.0Y/324.4sq.m)
Oroku122,415 JPY (0.0Y/235.0sq.m)142,012 JPY (0.0Y/178.3sq.m)120,145 JPY (0.0Y/143.3sq.m)
Ounoyamakouenn108,456 JPY (0.0Y/283.8sq.m)153,900 JPY (0.0Y/808.3sq.m)96,186 JPY (0.0Y/297.5sq.m)
Tsubogawa118,323 JPY (0.0Y/573.8sq.m)126,164 JPY (0.0Y/252.0sq.m)140,960 JPY (0.0Y/812.8sq.m)
Asahibashi175,000 JPY (0.0Y/160.0sq.m)263,795 JPY (0.0Y/557.5sq.m)168,363 JPY (0.0Y/551.0sq.m)
Kennchoumae293,325 JPY (0.0Y/616.7sq.m)304,286 JPY (0.0Y/595.0sq.m)152,770 JPY (0.0Y/366.9sq.m)
Miebashi207,326 JPY (0.0Y/250.0sq.m)155,929 JPY (0.0Y/215.7sq.m)164,643 JPY (0.0Y/506.5sq.m)
Makishi122,550 JPY (0.0Y/263.8sq.m)148,956 JPY (0.0Y/352.1sq.m)147,003 JPY (0.0Y/431.4sq.m)
Asato96,536 JPY (0.0Y/154.0sq.m)116,492 JPY (0.0Y/155.0sq.m)116,985 JPY (0.0Y/186.7sq.m)
Omoromachi205,794 JPY (0.0Y/215.0sq.m)187,164 JPY (0.0Y/317.0sq.m)160,020 JPY (0.0Y/304.7sq.m)
Furujima151,785 JPY (0.0Y/560.0sq.m)141,267 JPY (0.0Y/166.7sq.m)166,454 JPY (0.0Y/277.3sq.m)
Shiritsubyouinnmae110,714 JPY (0.0Y/280.0sq.m)-127,900 JPY (0.0Y/165.0sq.m)
Gibo57,341 JPY (0.0Y/890.0sq.m)111,014 JPY (0.0Y/340.5sq.m)65,719 JPY (0.0Y/467.9sq.m)
Shuri111,600 JPY (0.0Y/271.5sq.m)113,962 JPY (0.0Y/268.2sq.m)113,440 JPY (0.0Y/200.2sq.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

Miebashi207,326 JPY/sq.m (+33% compared with the previous year)

The average price of a sq.m Land of Miebashi was 207,326 JPY/sq.m. The market value represents an increase of 51,397 JPY (+33.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 5 (-71.4%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 250.0 sq.m (a +15.9% increase compared to the 215.7 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 8.0 min in 2013 and 12.5 min in 2014; +56.2%)

Omoromachi205,794 JPY/sq.m (+10% compared with the previous year)

The average price of a sq.m Land of Omoromachi was 205,794 JPY/sq.m. The market value represents an increase of 18,630 JPY (+10.0%) compared to 1 year ago and a transition to a strong market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 215.0 sq.m (a -32.2% decrease compared to the 317.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 13.2 min in 2013 and 8.2 min in 2014; -37.5%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 20.0% of total transactions in 2013 and 25.0% of total transactions in 2014)

Gibo57,341 JPY/sq.m (-48% 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 a decrease of 53,673 JPY (-48.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 7 (-70.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 890.0 sq.m (a +161.4% increase compared to the 340.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 13.6 min in 2013 and 55.3 min in 2014; +306.9%)

Asahibashi175,000 JPY/sq.m (-34% compared with the previous year)

The average price of a sq.m Land of Asahibashi was 175,000 JPY/sq.m. The market value represents a decrease of 88,795 JPY (-33.7%) 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 160.0 sq.m (a -71.3% decrease compared to the 557.5 sq.m of last year.).


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)