Overview of Shiteikoa Ikenoue (シティコア池之上)
Shiteikoa Ikenoue (シティコア池之上) is a 31-year-old condominium located at Kako Shima Shi Ikenoue Machi 3-23 (鹿児島市池之上町3-23), Kagoshima, Japan. Built in 1995, it comprises 39 units in a Reinforced Concrete (RC) structure. It was constructed by Fudou Kensetsu (不動建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥22.7万/sqm (approx. $1,511/sqm or $140/sqft).
Location & Neighborhood
The property is located at Kako Shima Shi Ikenoue Machi 3-23 (鹿児島市池之上町3-23), Kagoshima, 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 31 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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