Overview of Paakushitei Kamiotai Foresutokooto (パークシティ上小田井フォレストコート)
Paakushitei Kamiotai Foresutokooto (パークシティ上小田井フォレストコート) is a 27-year-old condominium located at Nagoyashi Nishiku Nihou Machi 45-1 (名古屋市西区二方町45-1), Aichi, Japan. Built in 1999, it comprises 139 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥40.3万/sqm (approx. $2,689/sqm or $250/sqft).
Location & Neighborhood
The property is located at Nagoyashi Nishiku Nihou Machi 45-1 (名古屋市西区二方町45-1), Aichi, Japan. It is a 9-minute walk to the nearest station. This is considered good station access by Japanese standards.
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 27 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 139 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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