Overview of Daini Nanyou Haitsu (第２南陽ハイツ)
Daini Nanyou Haitsu (第２南陽ハイツ) is a 54-year-old condominium located at Nagoyashi Minamiku Meiji 1 Choume 22-13 (名古屋市南区明治1丁目22-13), Aichi, Japan. Built in 1972, it comprises 90 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Nishimatsu Kensetsu (西松建設).
Pricing & Floor Plans
Based on 45 past listings, prices have ranged from 300〜880万円 (approx. $20,000–$58,667 USD at ¥150/$).
Unit sizes range from 49.5–60.0 sqm (533–646 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).
Estimated price per sqm: ¥8.2万/sqm (approx. $543/sqm or $50/sqft).
Location & Neighborhood
The property is located at Nagoyashi Minamiku Meiji 1 Choume 22-13 (名古屋市南区明治1丁目22-13), Aichi, Japan. It is a 10-minute walk to the nearest station. This is considered good station access by Japanese standards.
Investment Perspective
Seismic standards: Built in 1972, this property predates Japan's 1981 New Seismic Design Standards (新耐震基準). Buildings constructed before June 1981 were built to older earthquake resistance codes. Buyers should consider seismic retrofit status.
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 54 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 90 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.
Analyze this property's fair price and negotiation room for free at RE:public.