Overview of Gureisumanshon Ijiri Minami (グレイスマンション井尻南)
Gureisumanshon Ijiri Minami (グレイスマンション井尻南) is a 33-year-old condominium located at Fukuokashi Minamiku Iwaku Sa 2 Choume 12-1 (福岡市南区曰佐2丁目12-1), Fukuoka, Japan. Built in 1993, it comprises 25 units in a Reinforced Concrete (RC) structure. It was constructed by Kamimura Kensetsu (上村建設).
Pricing & Floor Plans
Based on 13 past listings, prices have ranged from 890〜2,190万円 (approx. $59,333–$146,000 USD at ¥150/$).
Unit sizes range from 65.0–68.7 sqm (700–739 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥29.2万/sqm (approx. $1,949/sqm or $181/sqft).
Location & Neighborhood
The property is located at Fukuokashi Minamiku Iwaku Sa 2 Choume 12-1 (福岡市南区曰佐2丁目12-1), Fukuoka, Japan. It is a 10-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 33 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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