Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jan, 2016 to Mar, 2016 was 148,052 JPY/sq.m. The market value represents an increase of 14,492 JPY (+10.9%) compared to 1 year ago and a transition to a bull market. 12 properties exchanged hands ( The market value represents a decrease of 12 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 274.2 sq.m (a +13.6% increase compared to the 241.2 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.

2 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Asato, Furujima station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Asato station, where prices have increased +77.8% compared to last year; a sq.m unit now costs 100,000 JPY/sq.m.

The top 1 stations has seen prices increase +77.8% (+43,750 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -46.2% (-73,507 JPY/sq.m).


Causes of price decreases

  • A dramatic 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 2015 and 8.3% of total transactions in 2016)

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 Furujima, the highest market value along this railway was 175,780 JPY/sq.m. The market value represents an increase of 75,144 JPY (+74.7%) 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.).

The average price of a sq.m Land of Ounoyamakouenn, the lowest market value along this railway was 69,230 JPY/sq.m. The market value represents a decrease of 56,767 JPY (-45.1%) 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.).

Okinawa Monorail (Stations Land market overview)
Okinawa MonorailThis year(2016)1 year ago2 years ago
Akamine--120,000 JPY (0.0Y/150.0sq.m)
Oroku--130,434 JPY (0.0Y/230.0sq.m)
Ounoyamakouenn69,230 JPY (0.0Y/390.0sq.m)125,997 JPY (0.0Y/197.5sq.m)-
Tsubogawa-188,571 JPY (0.0Y/35.0sq.m)-
Asahibashi211,428 JPY (0.0Y/127.5sq.m)--
Kennchoumae-179,310 JPY (0.0Y/145.0sq.m)-
Miebashi-140,000 JPY (0.0Y/100.0sq.m)173,913 JPY (0.0Y/230.0sq.m)
Makishi255,882 JPY (0.0Y/340.0sq.m)--
Asato100,000 JPY (0.0Y/230.0sq.m)56,250 JPY (0.0Y/1600.0sq.m)115,714 JPY (0.0Y/245.0sq.m)
Omoromachi85,714 JPY (0.0Y/35.0sq.m)159,221 JPY (0.0Y/107.2sq.m)-
Furujima175,780 JPY (0.0Y/355.0sq.m)100,636 JPY (0.0Y/392.0sq.m)-
Shiritsubyouinnmae187,878 JPY (0.0Y/165.0sq.m)--
Gibo-102,164 JPY (0.0Y/171.7sq.m)-
Shuri101,170 JPY (0.0Y/388.3sq.m)146,666 JPY (0.0Y/75.0sq.m)152,380 JPY (0.0Y/87.5sq.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

Asato100,000 JPY/sq.m (+78% compared with the previous year)

The average price of a sq.m Land of Asato was 100,000 JPY/sq.m. The market value represents an increase of 43,750 JPY (+77.8%) 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 230.0 sq.m (a -85.6% decrease compared to the 1600.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 17.0 min in 2015 and 30.0 min in 2016; +76.5%)

Omoromachi85,714 JPY/sq.m (-46% compared with the previous year)

The average price of a sq.m Land of Omoromachi was 85,714 JPY/sq.m. The market value represents a decrease of 73,507 JPY (-46.2%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 8 (-88.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 35.0 sq.m (a -67.4% decrease compared to the 107.2 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 11.3 min in 2015 and 10.0 min in 2016; -11.8%)

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)