Overview of Paakukooto Fukuromachi (パークコート袋町)
Paakukooto Fukuromachi (パークコート袋町) is a 25-year-old condominium located at Hiroshima Shichuu Ku Fukuromachi 5-34 (広島市中区袋町5-34), Hiroshima, Japan. Built in 2001, it comprises 35 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Mitsuikensetsu , Kou Osamu Kumi (三井建設、 鴻治組).
Pricing & Floor Plans
Based on 6 past listings, prices have ranged from 3,380〜5,290万円 (approx. $225,333–$352,667 USD at ¥150/$).
Unit sizes range from 61.9–77.2 sqm (666–831 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-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: ¥67.9万/sqm (approx. $4,525/sqm or $420/sqft).
Location & Neighborhood
The property is located at Hiroshima Shichuu Ku Fukuromachi 5-34 (広島市中区袋町5-34), Hiroshima, Japan. It is a 2-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
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 25 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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