Overview of M J R Chidori (ＭＪＲ千鳥)
M J R Chidori (ＭＪＲ千鳥) is a 26-year-old condominium located at Koga Shika Ken Higashi 5 Choume 17-6 (古賀市花見東5丁目17-6), Fukuoka, Japan. Built in 2000, it comprises 40 units in a Reinforced Concrete (RC) structure. It was constructed by Kyuu Tekkou Gyou ・ San Ki Kensetsu (九鉄工業・三軌建設).
Pricing & Floor Plans
Based on 7 past listings, prices have ranged from 1,590〜3,199万円 (approx. $106,000–$213,267 USD at ¥150/$).
Unit sizes range from 82.2–88.6 sqm (885–954 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥33.6万/sqm (approx. $2,243/sqm or $208/sqft).
Location & Neighborhood
The property is located at Koga Shika Ken Higashi 5 Choume 17-6 (古賀市花見東5丁目17-6), Fukuoka, Japan. It is a 1-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 26 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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