Overview of Purinsuhaitsu Shiga Kouen (プリンスハイツ志賀公園)
Purinsuhaitsu Shiga Kouen (プリンスハイツ志賀公園) is a 26-year-old condominium located at Nagoyashi Kitaku Mizukusa Machi 1 Choume 24 (名古屋市北区水草町1丁目24), Aichi, Japan. Built in 2000, it comprises 17 units in a Reinforced Concrete (RC) structure. It was constructed by Maru Hiko Watanabe Kensetsu (丸彦渡辺建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥33.5万/sqm (approx. $2,232/sqm or $207/sqft).
Location & Neighborhood
The property is located at Nagoyashi Kitaku Mizukusa Machi 1 Choume 24 (名古屋市北区水草町1丁目24), 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 26 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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