Overview of Minami Otaru Gurandohaitsu (南小樽グランドハイツ)
Minami Otaru Gurandohaitsu (南小樽グランドハイツ) is a 41-year-old condominium located at Otarushi Wakamatsu 2 Choume 3 (小樽市若松2丁目3), Hokkaido, Japan. Built in 1985, it comprises 40 units in a Reinforced Concrete (RC) structure. It was constructed by Hoshi Ken San (保志建産).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥8.1万/sqm (approx. $543/sqm or $50/sqft).
Location & Neighborhood
The property is located at Otarushi Wakamatsu 2 Choume 3 (小樽市若松2丁目3), Hokkaido, 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 41 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
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.