Overview of Rinkan Den'entoshi Guriinkooto Goban Kan (林間田園都市グリーンコート五番館)
Rinkan Den'entoshi Guriinkooto Goban Kan (林間田園都市グリーンコート五番館) is a 32-year-old condominium located at Hashimoto Ichizou Ishi Dai 3 Choume 29-2 (橋本市三石台3丁目29-2), Wakayama, Japan. Built in 1994, it comprises 205 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Hase Kou Kooporeeshon , Nankai Kensetsu (長谷工コーポレーション、 南海建設).
Pricing & Floor Plans
Based on 86 past listings, prices have ranged from 490〜1,490万円 (approx. $32,667–$99,333 USD at ¥150/$).
Unit sizes range from 74.4–90.0 sqm (801–969 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: ¥12.7万/sqm (approx. $849/sqm or $79/sqft).
Location & Neighborhood
The property is located at Hashimoto Ichizou Ishi Dai 3 Choume 29-2 (橋本市三石台3丁目29-2), Wakayama, Japan. It is a 6-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 32 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 205 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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