Overview of N O V A Oumihachiman (ＮＯＶＡ近江八幡)
N O V A Oumihachiman (ＮＯＶＡ近江八幡) is a 37-year-old condominium located at Oumihachiman Ichibi Yoshinochou 770 (近江八幡市日吉野町770), Shiga, Japan. Built in 1989, it comprises 115 units in a Reinforced Concrete (RC) structure. It was constructed by Kanayama Koumuten (金山工務店).
Pricing & Floor Plans
Based on 38 past listings, prices have ranged from 690〜1,380万円 (approx. $46,000–$92,000 USD at ¥150/$).
Unit sizes range from 50.9–79.6 sqm (548–857 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 4LDK (4-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥17.3万/sqm (approx. $1,151/sqm or $107/sqft).
Location & Neighborhood
The property is located at Oumihachiman Ichibi Yoshinochou 770 (近江八幡市日吉野町770), Shiga, 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 37 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 115 units, this is a relatively large condominium. Larger buildings typically benefit from lower per-unit maintenance and repair reserve costs.
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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