Overview of Ten'ou Toori Paakuhoomuzu (天王通パークホームズ)
Ten'ou Toori Paakuhoomuzu (天王通パークホームズ) is a 34-year-old condominium located at Tsushima Shi Ten'ou Toori 2 Choume 53-1 (津島市天王通2丁目53-1), Aichi, Japan. Built in 1992, it comprises 52 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Mitsuikensetsu (三井建設).
Pricing & Floor Plans
Based on 10 past listings, prices have ranged from 930〜1,580万円 (approx. $62,000–$105,333 USD at ¥150/$).
Unit sizes range from 72.6–85.0 sqm (781–915 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥18.5万/sqm (approx. $1,236/sqm or $115/sqft).
Location & Neighborhood
The property is located at Tsushima Shi Ten'ou Toori 2 Choume 53-1 (津島市天王通2丁目53-1), Aichi, Japan. It is a 10-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 34 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 52 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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