Overview of Raburihaitsu Matsuyama (ラブリハイツ松山)
Raburihaitsu Matsuyama (ラブリハイツ松山) is a 38-year-old condominium located at Matsuyamashi Takehara 3 Choume 17-25 (松山市竹原3丁目17-25), Ehime, Japan. Built in 1988, it comprises 102 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Kumagaigumi (熊谷組).
Pricing & Floor Plans
Based on 14 past listings, prices have ranged from 980〜1,890万円 (approx. $65,333–$126,000 USD at ¥150/$).
Unit sizes range from 61.2–85.8 sqm (659–924 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: ¥18.0万/sqm (approx. $1,201/sqm or $112/sqft).
Location & Neighborhood
The property is located at Matsuyamashi Takehara 3 Choume 17-25 (松山市竹原3丁目17-25), Ehime, Japan. It is a 11-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 38 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 102 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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