A report released Tuesday by property data company Tokyo Kantei shows that average prices per tsubo (a Japanese unit equal to 3.3 sq m) for used apartments on major Tokaido Line stations between Yokohama and Odawara were a mixed bag.

The biggest gain was a 5% rise in beachside town Chigasaki while the biggest fall was an 11.2% drop in Kōzu in Odawara City. Yokohama — the largest station of those surveyed — saw a drop of 5.7% year on year, after a big jump of 16% the previous year.

Converted to metric units, the highest price for a square meter was approximately JPY 693,392 near Yokohama Station, while the lowest was JPY 130,303 near tiny Ninomiya Station — a 45-minute journey down the Tokaido Line from Yokohama.

Of the eleven stations surveyed, six saw a drop in prices over the previous year, four stations experienced a rise in prices and sales prices at one stayed constant.

The stations on the Tokaido Line between Yokohama and Odawara are favoured by families looking for affordable housing with the convenience of being able to reach Yokohama and Tokyo for work or shopping.  Yokohama, Kamakura (Ōfuna Station) and Odawara are also hot spots for inbound tourism.

The report cautions that volume was low around the smaller stations such as Kōzu, Ninomiya and Kamonomiya Stations, meaning individual sales may have an oversized effect on the average.

Click here to download the Tokyo Kantei JR Tokaido Main Line Report

Data source: Tokyo Kantei 

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