Overview of Shin'ei Manshon Izumi Raku (真栄マンション泉楽)
Shin'ei Manshon Izumi Raku (真栄マンション泉楽) is a 42-year-old condominium located at Nagoyashi Minamiku Izumi Raku Toori 4 Choume 7-3 (名古屋市南区泉楽通4丁目7-3), Aichi, Japan. Built in 1984, it comprises 40 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Shi Ken Kimura (岐建木村).
Pricing & Floor Plans
Based on 17 past listings, prices have ranged from 850〜1,799万円 (approx. $56,667–$119,933 USD at ¥150/$).
Unit sizes range from 63.2–76.3 sqm (680–821 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥22.3万/sqm (approx. $1,485/sqm or $138/sqft).
Location & Neighborhood
The property is located at Nagoyashi Minamiku Izumi Raku Toori 4 Choume 7-3 (名古屋市南区泉楽通4丁目7-3), Aichi, Japan. It is a 12-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 42 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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