Overview of Shinmei Shiki Manshon (シンメイ志木マンション)
Shinmei Shiki Manshon (シンメイ志木マンション) is a 42-year-old condominium located at Niiza Shi Touhoku 2 Choume 33-8 (新座市東北2丁目33-8), Saitama, Japan. Built in 1984, it comprises 47 units in a Reinforced Concrete (RC) structure. It was constructed by Kyouwa Kensetsu (協和建設).
Pricing & Floor Plans
Based on 39 past listings, prices have ranged from 1,480〜2,990万円 (approx. $98,667–$199,333 USD at ¥150/$).
Unit sizes range from 54.0–64.5 sqm (581–694 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥43.6万/sqm (approx. $2,905/sqm or $270/sqft).
Location & Neighborhood
The property is located at Niiza Shi Touhoku 2 Choume 33-8 (新座市東北2丁目33-8), Saitama, 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 42 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
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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