Overview of Neoshitei Okazaki San Ban Kan (ネオシティ岡崎参番館)
Neoshitei Okazaki San Ban Kan (ネオシティ岡崎参番館) is a 35-year-old condominium located at Okazakishi Ida Machi 3 Choume 91-2 (岡崎市井田町3丁目91-2), Aichi, Japan. Built in 1991, it comprises 25 units in a Reinforced Concrete (RC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Based on 24 past listings, prices have ranged from 580〜1,548万円 (approx. $38,667–$103,200 USD at ¥150/$).
Unit sizes range from 47.8–84.7 sqm (515–912 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥15.4万/sqm (approx. $1,027/sqm or $95/sqft).
Location & Neighborhood
The property is located at Okazakishi Ida Machi 3 Choume 91-2 (岡崎市井田町3丁目91-2), Aichi, Japan. It is a 31-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 35 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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