Overview of Tenri Nikaidou Paakuhoomuzu (天理二階堂パークホームズ)
Tenri Nikaidou Paakuhoomuzu (天理二階堂パークホームズ) is a 35-year-old condominium located at Tenrishi Aramaki Machi 139-1 (天理市荒蒔町139-1), Nara, Japan. Built in 1991, it comprises 176 units in a Reinforced Concrete (RC) structure. It was constructed by Hase Kou Kooporeeshon (長谷工コーポレーション).
Pricing & Floor Plans
Based on 60 past listings, prices have ranged from 430〜1,490万円 (approx. $28,667–$99,333 USD at ¥150/$).
Unit sizes range from 51.0–80.5 sqm (549–866 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 4DK (4-bedroom w/ dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥14.2万/sqm (approx. $945/sqm or $88/sqft).
Location & Neighborhood
The property is located at Tenrishi Aramaki Machi 139-1 (天理市荒蒔町139-1), Nara, Japan. It is a 13-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 176 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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