Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2015 to Sep, 2015 was 149,221 JPY/sq.m. The market value represents an increase of 15,843 JPY (+11.9%) compared to 1 year ago and a transition to a bull market. 44 properties exchanged hands ( The market value represents a decrease of 7 (-13.7%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 261.8 sq.m (a -27.3% decrease compared to the 359.9 sq.m of last year.).

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

10 stations have experienced increased prices; 4 stations have experienced decreased prices. The overall trend was toward increased prices. Akamine, Oroku, Tsubogawa, Asahibashi, Makishi, Shiritsubyouinnmae, Gibo station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Asahibashi station, where prices have increased +94.3% compared to last year; a sq.m unit now costs 340,000 JPY/sq.m.

The top 2 stations has seen prices increase +86.2% (+104,912 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -48.1% (-117,144 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 15.3 min in 2014 and 11.2 min in 2015; -27.1%)

Causes of price decreases

  • An decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 13.7% of total transactions in 2014 and 11.4% of total transactions in 2015)

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 Asahibashi, the highest market value along this railway was 340,000 JPY/sq.m. The market value represents an increase of 165,000 JPY (+94.3%) 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 price of a sq.m Land of Asato, the lowest market value along this railway was 100,451 JPY/sq.m. The market value represents an increase of 3,916 JPY (+4.1%) compared to 1 year ago and a transition to a some 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.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2015)1 year ago2 years ago
Akamine152,380 JPY (0.0Y/210.0sq.m)105,944 JPY (0.0Y/466.7sq.m)99,525 JPY (0.0Y/554.5sq.m)
Oroku164,444 JPY (0.0Y/450.0sq.m)122,415 JPY (0.0Y/235.0sq.m)142,012 JPY (0.0Y/178.3sq.m)
Ounoyamakouenn129,237 JPY (0.0Y/303.0sq.m)108,456 JPY (0.0Y/283.8sq.m)153,900 JPY (0.0Y/808.3sq.m)
Tsubogawa188,571 JPY (0.0Y/35.0sq.m)118,323 JPY (0.0Y/573.8sq.m)126,164 JPY (0.0Y/252.0sq.m)
Asahibashi340,000 JPY (0.0Y/250.0sq.m)175,000 JPY (0.0Y/160.0sq.m)263,795 JPY (0.0Y/557.5sq.m)
Kennchoumae110,187 JPY (0.0Y/116.7sq.m)293,325 JPY (0.0Y/616.7sq.m)304,286 JPY (0.0Y/595.0sq.m)
Miebashi140,000 JPY (0.0Y/100.0sq.m)207,326 JPY (0.0Y/250.0sq.m)155,929 JPY (0.0Y/215.7sq.m)
Makishi181,395 JPY (0.0Y/430.0sq.m)122,550 JPY (0.0Y/263.8sq.m)148,956 JPY (0.0Y/352.1sq.m)
Asato100,451 JPY (0.0Y/520.0sq.m)96,536 JPY (0.0Y/154.0sq.m)116,492 JPY (0.0Y/155.0sq.m)
Omoromachi199,885 JPY (0.0Y/167.9sq.m)205,794 JPY (0.0Y/215.0sq.m)187,164 JPY (0.0Y/317.0sq.m)
Furujima100,636 JPY (0.0Y/392.0sq.m)151,785 JPY (0.0Y/560.0sq.m)141,267 JPY (0.0Y/166.7sq.m)
Shiritsubyouinnmae170,370 JPY (0.0Y/270.0sq.m)110,714 JPY (0.0Y/280.0sq.m)-
Gibo102,164 JPY (0.0Y/171.7sq.m)57,341 JPY (0.0Y/890.0sq.m)111,014 JPY (0.0Y/340.5sq.m)
Shuri128,347 JPY (0.0Y/268.0sq.m)111,600 JPY (0.0Y/271.5sq.m)113,962 JPY (0.0Y/268.2sq.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

Asahibashi340,000 JPY/sq.m (+94% compared with the previous year)

The average price of a sq.m Land of Asahibashi was 340,000 JPY/sq.m. The market value represents an increase of 165,000 JPY (+94.3%) 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 250.0 sq.m (a +56.2% increase compared to the 160.0 sq.m of last year.).

Gibo102,164 JPY/sq.m (+78% compared with the previous year)

The average price of a sq.m Land of Gibo was 102,164 JPY/sq.m. The market value represents an increase of 44,823 JPY (+78.2%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 171.7 sq.m (a -80.7% decrease compared to the 890.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 55.3 min in 2014 and 9.7 min in 2015; -82.5%)

Kennchoumae110,187 JPY/sq.m (-62% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 110,187 JPY/sq.m. The market value represents a decrease of 183,139 JPY (-62.4%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 116.7 sq.m (a -81.1% decrease compared to the 616.7 sq.m of last year.).

Furujima100,636 JPY/sq.m (-34% compared with the previous year)

The average price of a sq.m Land of Furujima was 100,636 JPY/sq.m. The market value represents a decrease of 51,149 JPY (-33.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 4 (+400.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 392.0 sq.m (a -30.0% decrease compared to the 560.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 2.0 min in 2014 and 6.0 min in 2015; +200.0%)

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)