Overview of Shiteiparesu Seto (シティパレス瀬戸)
Shiteiparesu Seto (シティパレス瀬戸) is a 43-year-old condominium located at Seto Shi Kusurishi Machi 50-4 (瀬戸市薬師町50-4), Aichi, Japan. Built in 1983, it comprises 44 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Tekken Kensetsu (鉄建建設).
Pricing & Floor Plans
Based on 44 past listings, prices have ranged from 250〜1,480万円 (approx. $16,667–$98,667 USD at ¥150/$).
Unit sizes range from 51.6–243.0 sqm (555–2616 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 7SLDK (7-bedroom w/ living-dining-kitchen + service room), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 1LDK (1-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥12.1万/sqm (approx. $808/sqm or $75/sqft).
Location & Neighborhood
The property is located at Seto Shi Kusurishi Machi 50-4 (瀬戸市薬師町50-4), Aichi, 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 43 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.
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