Overview of Ririihaitsu Minato (リリーハイツ港)
Ririihaitsu Minato (リリーハイツ港) is a 45-year-old condominium located at Nagoyashi Minatoku Irifune 1 Choume 4-3 (名古屋市港区入船1丁目4-3), Aichi, Japan. Built in 1981, it comprises 77 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Toukaikougyou (東海興業).
Pricing & Floor Plans
Based on 46 past listings, prices have ranged from 530〜1,490万円 (approx. $35,333–$99,333 USD at ¥150/$).
Unit sizes range from 65.5–72.7 sqm (705–783 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥12.2万/sqm (approx. $811/sqm or $75/sqft).
Location & Neighborhood
The property is located at Nagoyashi Minatoku Irifune 1 Choume 4-3 (名古屋市港区入船1丁目4-3), Aichi, Japan. It is a 5-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 45 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 77 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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