Overview of Katsura Paakuhausu Nishi Gaiku San Ban Kan (桂パークハウス西街区参番館)
Katsura Paakuhausu Nishi Gaiku San Ban Kan (桂パークハウス西街区参番館) is a 33-year-old condominium located at Sendaishi Izumiku Katsura 2 Choume 1-1 (仙台市泉区桂2丁目1-1), Miyagi, Japan. Built in 1993, it comprises 24 units in a Reinforced Concrete (RC) structure. It was constructed by Toukyuukensetsu , Chizaki Kougyou (東急建設、 地崎工業).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥31.4万/sqm (approx. $2,095/sqm or $195/sqft).
Location & Neighborhood
The property is located at Sendaishi Izumiku Katsura 2 Choume 1-1 (仙台市泉区桂2丁目1-1), Miyagi, 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 33 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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