Overview of Paakushitei Misato (パークシティ三郷)
Paakushitei Misato (パークシティ三郷) is a 34-year-old condominium located at Owariasahi Shi Kitahara Yamachou Mei Shuu 1726-1 (尾張旭市北原山町鳴湫1726-1), Aichi, Japan. Built in 1992, it comprises 210 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Andou Kensetsu (安藤建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥17.0万/sqm (approx. $1,133/sqm or $105/sqft).
Location & Neighborhood
The property is located at Owariasahi Shi Kitahara Yamachou Mei Shuu 1726-1 (尾張旭市北原山町鳴湫1726-1), Aichi, Japan. It is a 5-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 34 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 210 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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