Overview of Midorigaoka Shiteihausu (緑が丘シティハウス)
Midorigaoka Shiteihausu (緑が丘シティハウス) is a 38-year-old condominium located at Meguroku Midorigaoka 2 Choume 3-15 (目黒区緑が丘2丁目3-15), Tokyo, Japan. Built in 1988, it comprises 15 units in a Reinforced Concrete (RC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥137.8万/sqm (approx. $9,187/sqm or $853/sqft).
Location & Neighborhood
The property is located at Meguroku Midorigaoka 2 Choume 3-15 (目黒区緑が丘2丁目3-15), Tokyo, Japan. It is a 9-minute walk to the nearest station. This is considered good station access by Japanese standards.
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 38 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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