Overview of Maikyassuru Higashimatsuyama (マイキャッスル東松山)
Maikyassuru Higashimatsuyama (マイキャッスル東松山) is a 28-year-old condominium located at Higashimatsuyama Shi Shinmeichou 1 Choume 7-4 (東松山市神明町1丁目7-4), Saitama, Japan. Built in 1998, it comprises 50 units in a Reinforced Concrete (RC) structure. It was constructed by Yamada Kensetsu , Nakazato Kensetsu (山田建設、 中里建設).
Pricing & Floor Plans
Based on 41 past listings, prices have ranged from 1,130〜2,190万円 (approx. $75,333–$146,000 USD at ¥150/$).
Unit sizes range from 68.2–82.4 sqm (734–887 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: ¥25.9万/sqm (approx. $1,729/sqm or $161/sqft).
Location & Neighborhood
The property is located at Higashimatsuyama Shi Shinmeichou 1 Choume 7-4 (東松山市神明町1丁目7-4), Saitama, Japan. It is a 7-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 28 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 50 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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