Overview of Purinsuhaitsu Iwakura Ni Ban Kan (プリンスハイツ岩倉弐番館)
Purinsuhaitsu Iwakura Ni Ban Kan (プリンスハイツ岩倉弐番館) is a 24-year-old condominium located at Iwakura Shidai Chi Machi 1-1 (岩倉市大地町1-1), Aichi, Japan. Built in 2002, it comprises 46 units in a Reinforced Concrete (RC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Based on 16 past listings, prices have ranged from 1,720〜2,680万円 (approx. $114,667–$178,667 USD at ¥150/$).
Unit sizes range from 78.7–117.7 sqm (847–1267 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Location & Neighborhood
The property is located at Iwakura Shidai Chi Machi 1-1 (岩倉市大地町1-1), 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 24 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.
Analyze this property's fair price and negotiation room for free at RE:public.