Overview of Guriinkyapitaru Honchou (グリーンキャピタル本町)
Guriinkyapitaru Honchou (グリーンキャピタル本町) is a 33-year-old condominium located at Moriokashi Honchou Toori 3 Choume 8-9 (盛岡市本町通3丁目8-9), Iwate, Japan. Built in 1993, it comprises 35 units in a Reinforced Concrete (RC) structure. It was constructed by Toukyuukensetsu , Heiya Kumi (東急建設、 平野組).
Pricing & Floor Plans
Based on 107 past listings, prices have ranged from 100〜450万円 (approx. $6,667–$30,000 USD at ¥150/$).
Unit sizes range from 19.8–35.4 sqm (213–381 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1K (1-bedroom w/ kitchen), 1R (Studio).
Estimated price per sqm: ¥7.8万/sqm (approx. $517/sqm or $48/sqft).
Location & Neighborhood
The property is located at Moriokashi Honchou Toori 3 Choume 8-9 (盛岡市本町通3丁目8-9), Iwate, 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 33 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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