Overview of Oota Ritchikondominiamu (太田リッチコンドミニアム)
Oota Ritchikondominiamu (太田リッチコンドミニアム) is a 34-year-old condominium located at Ootashi Higashihonmachi 39-22 (太田市東本町39-22), Gunma, Japan. Built in 1992, it comprises 66 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Motegi Koumuten (茂木工務店).
Pricing & Floor Plans
Based on 59 past listings, prices have ranged from 250〜980万円 (approx. $16,667–$65,333 USD at ¥150/$).
Unit sizes range from 20.8–59.3 sqm (224–638 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 1K (1-bedroom w/ kitchen), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥11.3万/sqm (approx. $754/sqm or $70/sqft).
Location & Neighborhood
The property is located at Ootashi Higashihonmachi 39-22 (太田市東本町39-22), Gunma, 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 34 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 66 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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