Overview of Moagureesu Kitazono Toori (モアグレース北園通)
Moagureesu Kitazono Toori (モアグレース北園通) is a 23-year-old condominium located at Ichinomiya Shi Kitazono Toori 3 Choume 26-1 (一宮市北園通3丁目26-1), Aichi, Japan. Built in 2003, it comprises 21 units in a Reinforced Concrete (RC) structure. It was constructed by Nakano Kensetsu (中野建設).
Pricing & Floor Plans
Based on 7 past listings, prices have ranged from 1,790〜2,490万円 (approx. $119,333–$166,000 USD at ¥150/$).
Unit sizes range from 73.2–85.5 sqm (788–920 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥30.8万/sqm (approx. $2,051/sqm or $191/sqft).
Location & Neighborhood
The property is located at Ichinomiya Shi Kitazono Toori 3 Choume 26-1 (一宮市北園通3丁目26-1), Aichi, Japan. It is a 12-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 23 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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