Overview of Meitsu Ichinomiya (メイツ一宮)
Meitsu Ichinomiya (メイツ一宮) is a 30-year-old condominium located at Ichinomiya Shika Ike 1 Choume 15-19 (一宮市花池1丁目15-19), Aichi, Japan. Built in 1996, it comprises 106 units in a Reinforced Concrete (RC) structure. It was constructed by Hazamagumi (間組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥20.6万/sqm (approx. $1,371/sqm or $127/sqft).
Location & Neighborhood
The property is located at Ichinomiya Shika Ike 1 Choume 15-19 (一宮市花池1丁目15-19), Aichi, Japan. It is a 13-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 30 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 106 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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