Overview of Sanpaaku Iwakura (サンパーク岩倉)
Sanpaaku Iwakura (サンパーク岩倉) is a 37-year-old condominium located at Iwakura Shi Nishiichi Machi Nishiichi Mae 67 (岩倉市西市町西市前67), Aichi, Japan. Built in 1989, it comprises 28 units in a Reinforced Concrete (RC) structure. It was constructed by Yoshikawa Kensetsu (吉川建設).
Pricing & Floor Plans
Based on 30 past listings, prices have ranged from 570〜1,499万円 (approx. $38,000–$99,933 USD at ¥150/$).
Unit sizes range from 50.1–74.1 sqm (539–798 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-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: ¥12.7万/sqm (approx. $849/sqm or $79/sqft).
Location & Neighborhood
The property is located at Iwakura Shi Nishiichi Machi Nishiichi Mae 67 (岩倉市西市町西市前67), Aichi, Japan. It is a 10-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 37 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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