Overview of Paakushitei Matsushita Minamitou (パークシティ松下南棟)
Paakushitei Matsushita Minamitou (パークシティ松下南棟) is a 35-year-old condominium located at Nagoyashi Minamiku Matsushita Machi 1 Choume 11-1 (名古屋市南区松下町1丁目11-1), Aichi, Japan. Built in 1991, it comprises 95 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Mitsuikensetsu (三井建設).
Pricing & Floor Plans
Based on 34 past listings, prices have ranged from 980〜2,390万円 (approx. $65,333–$159,333 USD at ¥150/$).
Unit sizes range from 67.6–83.5 sqm (728–899 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 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), 3SLDK (3-bedroom w/ living-dining-kitchen + service room).
Estimated price per sqm: ¥24.0万/sqm (approx. $1,598/sqm or $148/sqft).
Location & Neighborhood
The property is located at Nagoyashi Minamiku Matsushita Machi 1 Choume 11-1 (名古屋市南区松下町1丁目11-1), Aichi, Japan. It is a 7-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 95 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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