Overview of Gureisu Itabashi (グレイス板橋)
Gureisu Itabashi (グレイス板橋) is a 30-year-old condominium located at Itabashiku Itabashi 1 Choume 32-9 (板橋区板橋1丁目32-9), Tokyo, Japan. Built in 1996, it comprises 49 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Kashima Kensetsu (鹿島建設).
Pricing & Floor Plans
Based on 39 past listings, prices have ranged from 1,080〜8,280万円 (approx. $72,000–$552,000 USD at ¥150/$).
Unit sizes range from 22.8–87.4 sqm (245–941 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1R (Studio), 2LDK (2-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥103.4万/sqm (approx. $6,895/sqm or $641/sqft).
Location & Neighborhood
The property is located at Itabashiku Itabashi 1 Choume 32-9 (板橋区板橋1丁目32-9), Tokyo, Japan. It is a 4-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 30 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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