Overview of Shiteihaimu Naruto Paato 1 (シティハイム鳴門パート１)
Shiteihaimu Naruto Paato 1 (シティハイム鳴門パート１) is a 43-year-old condominium located at Naruto Shi Muyachou Minamihama Higashihama 31-45 (鳴門市撫養町南浜東浜31-45), Tokushima, Japan. Built in 1983, it comprises 20 units in a Reinforced Concrete (RC) structure.
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥5.6万/sqm (approx. $371/sqm or $34/sqft).
Location & Neighborhood
The property is located at Naruto Shi Muyachou Minamihama Higashihama 31-45 (鳴門市撫養町南浜東浜31-45), Tokushima, 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.
Analyze this property's fair price and negotiation room for free at RE:public.