Overview of Neo・aaban Niiza (ネオ・アーバン新座)
Neo・aaban Niiza (ネオ・アーバン新座) is a 37-year-old condominium located at Niiza Ichino Hi Shi 4 Choume 19-23 (新座市野火止4丁目19-23), Saitama, Japan. Built in 1989, it comprises 127 units in a Reinforced Concrete (RC) structure. It was constructed by Taisei Purehabu (大成プレハブ).
Pricing & Floor Plans
Based on 102 past listings, prices have ranged from 1,150〜3,199万円 (approx. $76,667–$213,267 USD at ¥150/$).
Unit sizes range from 62.0–91.9 sqm (667–989 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥34.8万/sqm (approx. $2,319/sqm or $215/sqft).
Location & Neighborhood
The property is located at Niiza Ichino Hi Shi 4 Choume 19-23 (新座市野火止4丁目19-23), Saitama, Japan. It is a 6-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.
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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