Overview of Paakushitei Shin Seto Niban Machi (パークシティ新瀬戸二番街)
Paakushitei Shin Seto Niban Machi (パークシティ新瀬戸二番街) is a 27-year-old condominium located at Seto Shi Naeba Machi 150 (瀬戸市苗場町150), Aichi, Japan. Built in 1999, it comprises 256 units in a Reinforced Concrete (RC) structure. It was constructed by Kumagaigumi (熊谷組).
Pricing & Floor Plans
Based on 44 past listings, prices have ranged from 1,000〜2,290万円 (approx. $66,667–$152,667 USD at ¥150/$).
Unit sizes range from 72.2–94.0 sqm (777–1012 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4SLDK (4-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: ¥19.1万/sqm (approx. $1,272/sqm or $118/sqft).
Location & Neighborhood
The property is located at Seto Shi Naeba Machi 150 (瀬戸市苗場町150), 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 27 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 256 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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