Okinawa Monorail Land market overview

The average price of a sq.m Land of Okinawa Monorail (Akamine to Shuri), in Jul, 2016 to Sep, 2016 was 179,782 JPY/sq.m. The market value represents an increase of 3,417 JPY (+1.9%) compared to 1 year ago and a transition to a slight market. 18 properties exchanged hands ( The market value represents an increase of 3 (+20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 330.8 sq.m (a +5.4% increase compared to the 314.0 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; 3 stations have experienced decreased prices. Market value of most stations decreased. Asahibashi, Shuri station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kennchoumae station, where prices have increased +128.7% compared to last year; a sq.m unit now costs 172,928 JPY/sq.m.

The top 2 stations has seen prices increase +91.5% (+141,151 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -46.4% (-62,452 JPY/sq.m).



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:

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Land stations market overview

The average price of a sq.m Land of Asahibashi, the highest market value along this railway was 525,000 JPY/sq.m. The market value represents an increase of 185,000 JPY (+54.4%) 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 Ounoyamakouenn, the lowest market value along this railway was 57,500 JPY/sq.m. The market value represents a decrease of 63,595 JPY (-52.5%) 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
Akamine91,071 JPY (0.0Y/386.7sq.m)152,380 JPY (0.0Y/210.0sq.m)111,428 JPY (0.0Y/700.0sq.m)
Oroku110,000 JPY (0.0Y/200.0sq.m)164,444 JPY (0.0Y/450.0sq.m)54,054 JPY (0.0Y/185.0sq.m)
Ounoyamakouenn57,500 JPY (0.0Y/120.0sq.m)121,095 JPY (0.0Y/435.0sq.m)90,441 JPY (0.0Y/298.3sq.m)
Tsubogawa200,000 JPY (0.0Y/1000.0sq.m)-155,502 JPY (0.0Y/792.5sq.m)
Asahibashi525,000 JPY (0.0Y/1200.0sq.m)340,000 JPY (0.0Y/250.0sq.m)-
Kennchoumae172,928 JPY (0.0Y/100.0sq.m)75,625 JPY (0.0Y/102.5sq.m)171,428 JPY (0.0Y/105.0sq.m)
Miebashi220,833 JPY (0.0Y/117.5sq.m)--
Makishi-181,395 JPY (0.0Y/430.0sq.m)167,534 JPY (0.0Y/430.0sq.m)
Asato82,608 JPY (0.0Y/230.0sq.m)-109,743 JPY (0.0Y/55.0sq.m)
Omoromachi411,111 JPY (0.0Y/900.0sq.m)374,194 JPY (0.0Y/380.0sq.m)213,786 JPY (0.0Y/250.0sq.m)
Furujima155,278 JPY (0.0Y/167.5sq.m)-151,785 JPY (0.0Y/560.0sq.m)
Shiritsubyouinnmae-170,370 JPY (0.0Y/270.0sq.m)-
Gibo125,000 JPY (0.0Y/120.0sq.m)-57,341 JPY (0.0Y/335.0sq.m)
Shuri180,645 JPY (0.0Y/155.0sq.m)123,768 JPY (0.0Y/316.2sq.m)97,104 JPY (0.0Y/325.0sq.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.
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Noteworthy stations

Kennchoumae172,928 JPY/sq.m (+129% compared with the previous year)

The average price of a sq.m Land of Kennchoumae was 172,928 JPY/sq.m. The market value represents an increase of 97,303 JPY (+128.7%) compared to 1 year ago and a transition to a dramatic 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 size of the real estate was 100.0 sq.m (a -2.4% decrease compared to the 102.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 8.0 min in 2015 and 11.7 min in 2016; +45.8%)

Asahibashi525,000 JPY/sq.m (+54% compared with the previous year)

The average price of a sq.m Land of Asahibashi was 525,000 JPY/sq.m. The market value represents an increase of 185,000 JPY (+54.4%) 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 1200.0 sq.m (a +380.0% increase compared to the 250.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 8.0 min in 2015 and 10.0 min in 2016; +25.0%)

Ounoyamakouenn57,500 JPY/sq.m (-53% compared with the previous year)

The average price of a sq.m Land of Ounoyamakouenn was 57,500 JPY/sq.m. The market value represents a decrease of 63,595 JPY (-52.5%) 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 120.0 sq.m (a -72.4% decrease compared to the 435.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 8.5 min in 2015 and 2.0 min in 2016; -76.5%)

Akamine91,071 JPY/sq.m (-40% compared with the previous year)

The average price of a sq.m Land of Akamine was 91,071 JPY/sq.m. The market value represents a decrease of 61,309 JPY (-40.2%) 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 386.7 sq.m (a +84.1% increase compared to the 210.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 15.0 min in 2015 and 19.0 min in 2016; +26.7%)

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)