Overview of Nomura Suteitsu Iwakura Gojou Kawa (野村ステイツ岩倉五条川)
Nomura Suteitsu Iwakura Gojou Kawa (野村ステイツ岩倉五条川) is a 27-year-old condominium located at Iwakura Shi Shita Honchou 38-1 (岩倉市下本町38-1), Aichi, Japan. Built in 1999, it comprises 127 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Dainippon Doboku (大日本土木).
Pricing & Floor Plans
Based on 20 past listings, prices have ranged from 1,400〜2,580万円 (approx. $93,333–$172,000 USD at ¥150/$).
Unit sizes range from 73.5–93.7 sqm (791–1009 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥26.5万/sqm (approx. $1,767/sqm or $164/sqft).
Location & Neighborhood
The property is located at Iwakura Shi Shita Honchou 38-1 (岩倉市下本町38-1), Aichi, Japan. It is a 8-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 27 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 127 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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