Overview of Shiteimanshon Yakuin (シティマンション薬院)
Shiteimanshon Yakuin (シティマンション薬院) is a 42-year-old condominium located at Fukuokashi Chuuouku Yakuin 1 Choume 10-16 (福岡市中央区薬院1丁目10-16), Fukuoka, Japan. Built in 1984, it comprises 23 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Chizaki Kougyou (地崎工業).
Pricing & Floor Plans
Based on 25 past listings, prices have ranged from 1,100〜3,380万円 (approx. $73,333–$225,333 USD at ¥150/$).
Unit sizes range from 43.8–67.4 sqm (471–725 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥59.4万/sqm (approx. $3,957/sqm or $368/sqft).
Location & Neighborhood
The property is located at Fukuokashi Chuuouku Yakuin 1 Choume 10-16 (福岡市中央区薬院1丁目10-16), Fukuoka, Japan. It is a 3-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
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 42 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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