Overview of Nisshin Kaguyama Mori No Machi (日進香久山杜の街)
Nisshin Kaguyama Mori No Machi (日進香久山杜の街) is a 23-year-old condominium located at Nisshin Shi Kaguyama 4 Choume 201-3 , 13 (日進市香久山4丁目201-3、13), Aichi, Japan. Built in 2003, it comprises 209 units in a Reinforced Concrete (RC) structure. It was constructed by Arai Kumi (新井組).
Pricing & Floor Plans
Based on 76 past listings, prices have ranged from 1,290〜2,498万円 (approx. $86,000–$166,533 USD at ¥150/$).
Unit sizes range from 75.7–90.7 sqm (815–976 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥21.9万/sqm (approx. $1,463/sqm or $136/sqft).
Location & Neighborhood
The property is located at Nisshin Shi Kaguyama 4 Choume 201-3 , 13 (日進市香久山4丁目201-3、13), Aichi, Japan. It is a 66-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 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 209 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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