Overview of Izumichuuou Paakuhoomuzu (泉中央パークホームズ)
Izumichuuou Paakuhoomuzu (泉中央パークホームズ) is a 30-year-old condominium located at Sendaishi Izumiku Izumichuuou 1 Choume 14-6 (仙台市泉区泉中央1丁目14-6), Miyagi, Japan. Built in 1996, it comprises 51 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Okuda Kensetsu (奥田建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥43.4万/sqm (approx. $2,891/sqm or $269/sqft).
Location & Neighborhood
The property is located at Sendaishi Izumiku Izumichuuou 1 Choume 14-6 (仙台市泉区泉中央1丁目14-6), Miyagi, Japan. It is a 3-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 30 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 51 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.
Analyze this property's fair price and negotiation room for free at RE:public.