Overview of Pashifikkubisuta 5 (パシフィックビスタ５)
Pashifikkubisuta 5 (パシフィックビスタ５) is a 24-year-old condominium located at Wakayamashi Kemi 1517 (和歌山市毛見1517), Wakayama, Japan. Built in 2002, it comprises 80 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Zenidaka Kumi ・ Mitsuikensetsu (錢高組・三井建設).
Pricing & Floor Plans
Based on 48 past listings, prices have ranged from 850〜4,500万円 (approx. $56,667–$300,000 USD at ¥150/$).
Unit sizes range from 46.0–103.5 sqm (495–1114 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥24.0万/sqm (approx. $1,599/sqm or $149/sqft).
Location & Neighborhood
The property is located at Wakayamashi Kemi 1517 (和歌山市毛見1517), Wakayama, 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 80 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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