Overview of Famiiru Iwakura (ファミール岩倉)
Famiiru Iwakura (ファミール岩倉) is a 26-year-old condominium located at Iwakura Shi Shita Honchou Masamitsu Tera 4-1 (岩倉市下本町真光寺4-1), Aichi, Japan. Built in 2000, it comprises 31 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Odakyuu Kensetsu (小田急建設).
Pricing & Floor Plans
Based on 17 past listings, prices have ranged from 1,600〜2,699万円 (approx. $106,667–$179,933 USD at ¥150/$).
Unit sizes range from 72.7–91.5 sqm (783–985 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: ¥23.8万/sqm (approx. $1,585/sqm or $147/sqft).
Location & Neighborhood
The property is located at Iwakura Shi Shita Honchou Masamitsu Tera 4-1 (岩倉市下本町真光寺4-1), Aichi, Japan. It is a 8-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 26 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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