Overview of Airushitei Obata Ryokuchi Kouen (アイルシティ小幡緑地公園)
Airushitei Obata Ryokuchi Kouen (アイルシティ小幡緑地公園) is a 23-year-old condominium located at Nagoyashi Moriyamaku Shiro Tsuchi Machi 365 (名古屋市守山区城土町365), Aichi, Japan. Built in 2003, it comprises 58 units in a Reinforced Concrete (RC) structure. It was constructed by Kondou Kumi (近藤組).
Pricing & Floor Plans
Based on 29 past listings, prices have ranged from 1,800〜3,190万円 (approx. $120,000–$212,667 USD at ¥150/$).
Unit sizes range from 75.5–98.0 sqm (813–1055 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 3SLDK (3-bedroom w/ living-dining-kitchen + service room), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥32.2万/sqm (approx. $2,148/sqm or $200/sqft).
Location & Neighborhood
The property is located at Nagoyashi Moriyamaku Shiro Tsuchi Machi 365 (名古屋市守山区城土町365), Aichi, Japan. It is a 4-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
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 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 58 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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