Overview of Paruhaitsu Gochuu Ou Go Choume (パルハイツ呉中央五丁目)
Paruhaitsu Gochuu Ou Go Choume (パルハイツ呉中央五丁目) is a 38-year-old condominium located at Kureshi Chuuou 5 Choume 10-16 (呉市中央5丁目10-16), Hiroshima, Japan. Built in 1988, it comprises 43 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Toda Kensetsu (戸田建設).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥25.4万/sqm (approx. $1,694/sqm or $157/sqft).
Location & Neighborhood
The property is located at Kureshi Chuuou 5 Choume 10-16 (呉市中央5丁目10-16), Hiroshima, Japan. It is a 20-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 38 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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