Overview of Koamanshon Iwakuni Eki Minami (コアマンション岩国駅南)
Koamanshon Iwakuni Eki Minami (コアマンション岩国駅南) is a 35-year-old condominium located at Iwakuni Ichizou Kasa Machi 3 Choume 6-7 (岩国市三笠町3丁目6-7), Yamaguchi, Japan. Built in 1991, it comprises 30 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Tsuji Kumi , Yohane Kensetsu (辻組、 ヨハネ建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥25.7万/sqm (approx. $1,715/sqm or $159/sqft).
Location & Neighborhood
The property is located at Iwakuni Ichizou Kasa Machi 3 Choume 6-7 (岩国市三笠町3丁目6-7), Yamaguchi, Japan. It is a 6-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 35 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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