Overview of Roorerukooto Ouji (ローレルコート王寺)
Roorerukooto Ouji (ローレルコート王寺) is a 35-year-old condominium located at Kitakatsuragi Gun'ou Teramachi Kyuu Do 5 Choume 4-12 (北葛城郡王寺町久度5丁目4-12), Nara, Japan. Built in 1991, it comprises 56 units in a Reinforced Concrete (RC) structure. It was constructed by Dai Matsu Kensetsu (大末建設).
Pricing & Floor Plans
Based on 52 past listings, prices have ranged from 1,080〜2,980万円 (approx. $72,000–$198,667 USD at ¥150/$).
Unit sizes range from 56.1–85.3 sqm (604–918 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3SLDK (3-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥37.4万/sqm (approx. $2,495/sqm or $232/sqft).
Location & Neighborhood
The property is located at Kitakatsuragi Gun'ou Teramachi Kyuu Do 5 Choume 4-12 (北葛城郡王寺町久度5丁目4-12), Nara, Japan. It is a 9-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 56 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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