Overview of Riibesuto Odo Kouen (リーベスト小戸公園)
Riibesuto Odo Kouen (リーベスト小戸公園) is a 30-year-old condominium located at Fukuokashi Nishiku Odo 3 Choume 55-15 (福岡市西区小戸3丁目55-15), Fukuoka, Japan. Built in 1996, it comprises 37 units in a Reinforced Concrete (RC) structure. It was constructed by Chizaki Kougyou , Gotou Kumi (地崎工業、 後藤組).
Pricing & Floor Plans
Based on 20 past listings, prices have ranged from 1,450〜3,980万円 (approx. $96,667–$265,333 USD at ¥150/$).
Unit sizes range from 68.7–87.3 sqm (739–940 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), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥46.9万/sqm (approx. $3,124/sqm or $290/sqft).
Location & Neighborhood
The property is located at Fukuokashi Nishiku Odo 3 Choume 55-15 (福岡市西区小戸3丁目55-15), Fukuoka, 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 30 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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