Overview of Esupoa Iwakura (エスポア岩倉)
Esupoa Iwakura (エスポア岩倉) is a 40-year-old condominium located at Iwakura Shi Shita Honchou 44-2 (岩倉市下本町44-2), Aichi, Japan. Built in 1986, it comprises 26 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Nittou Kensetsu (日東建設).
Pricing & Floor Plans
Based on 33 past listings, prices have ranged from 700〜1,680万円 (approx. $46,667–$112,000 USD at ¥150/$).
Unit sizes range from 60.2–84.6 sqm (648–911 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 4DK (4-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥15.0万/sqm (approx. $1,002/sqm or $93/sqft).
Location & Neighborhood
The property is located at Iwakura Shi Shita Honchou 44-2 (岩倉市下本町44-2), 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 40 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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