Overview of Pabirion Oogaki (パビリオン大垣)
Pabirion Oogaki (パビリオン大垣) is a 43-year-old condominium located at Oogaki Shi Minami Hoo Machi 5 Choume 37-1 (大垣市南頬町5丁目37-1), Gifu, Japan. Built in 1983, it comprises 25 units in a Reinforced Concrete (RC) structure. It was constructed by Yahagi Kensetsu Kougyou (矢作建設工業).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥2.6万/sqm (approx. $171/sqm or $16/sqft).
Location & Neighborhood
The property is located at Oogaki Shi Minami Hoo Machi 5 Choume 37-1 (大垣市南頬町5丁目37-1), Gifu, Japan. It is a 26-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 43 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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