Overview of Nikkou Paresu Yokohama Nishi (日興パレス横浜西)
Nikkou Paresu Yokohama Nishi (日興パレス横浜西) is a 34-year-old condominium located at Yokohamashinishiku Chuuou 2 Choume 54-6 (横浜市西区中央2丁目54-6), Kanagawa, Japan. Built in 1992, it comprises 73 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Toukaikougyou (東海興業).
Pricing & Floor Plans
Based on 34 past listings, prices have ranged from 650〜2,030万円 (approx. $43,333–$135,333 USD at ¥150/$).
Unit sizes range from 17.3–34.5 sqm (186–371 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1K (1-bedroom w/ kitchen), 2K (2-bedroom w/ kitchen), 1R (Studio), 1DK (1-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥50.5万/sqm (approx. $3,368/sqm or $313/sqft).
Location & Neighborhood
The property is located at Yokohamashinishiku Chuuou 2 Choume 54-6 (横浜市西区中央2丁目54-6), Kanagawa, 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 34 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 73 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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