Overview of Nisshin Paresuteeji Wakou (日神パレステージ和光)
Nisshin Paresuteeji Wakou (日神パレステージ和光) is a 28-year-old condominium located at Wakoushi Niikura 2 Choume 12-1 (和光市新倉2丁目12-1), Saitama, Japan. Built in 1998, it comprises 69 units in a Reinforced Concrete (RC) structure. It was constructed by Taisei Purehabu , Kondou Kensetsu (大成プレハブ、 近藤建設).
Pricing & Floor Plans
Based on 81 past listings, prices have ranged from 1,880〜3,599万円 (approx. $125,333–$239,933 USD at ¥150/$).
Unit sizes range from 70.7–90.2 sqm (761–971 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥37.6万/sqm (approx. $2,507/sqm or $233/sqft).
Location & Neighborhood
The property is located at Wakoushi Niikura 2 Choume 12-1 (和光市新倉2丁目12-1), Saitama, Japan. It is a 17-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 28 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 69 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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