Overview of Guriinterasu Hongoudai (グリーンテラス本郷台)
Guriinterasu Hongoudai (グリーンテラス本郷台) is a 40-year-old condominium located at Yokohamashisakaeku Kouden Machi 774-5 (横浜市栄区公田町774-5), Kanagawa, Japan. Built in 1986, it comprises 150 units in a Reinforced Concrete (RC) structure. It was constructed by Oobayashi Kumi (大林組).
Pricing & Floor Plans
Based on 50 past listings, prices have ranged from 1,350〜2,999万円 (approx. $90,000–$199,933 USD at ¥150/$).
Unit sizes range from 62.3–93.7 sqm (671–1009 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3DK (3-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥32.2万/sqm (approx. $2,145/sqm or $199/sqft).
Location & Neighborhood
The property is located at Yokohamashisakaeku Kouden Machi 774-5 (横浜市栄区公田町774-5), Kanagawa, Japan. It is a 22-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 40 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 150 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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