Overview of Sendai Paakuhoomuzu Shintera Kouen (仙台パークホームズ新寺公園)
Sendai Paakuhoomuzu Shintera Kouen (仙台パークホームズ新寺公園) is a 24-year-old condominium located at Sendaishi Wakabayashiku Shintera 3 Choume 5-12 (仙台市若林区新寺3丁目5-12), Miyagi, Japan. Built in 2002, it comprises 55 units in a Reinforced Concrete (RC) structure. It was constructed by Toukaikougyou (東海興業).
Pricing & Floor Plans
Based on 8 past listings, prices have ranged from 2,380〜4,980万円 (approx. $158,667–$332,000 USD at ¥150/$).
Unit sizes range from 62.1–80.5 sqm (668–866 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥58.0万/sqm (approx. $3,868/sqm or $359/sqft).
Location & Neighborhood
The property is located at Sendaishi Wakabayashiku Shintera 3 Choume 5-12 (仙台市若林区新寺3丁目5-12), Miyagi, 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 24 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 55 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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