Overview of Raionzushitei Nerima (ライオンズシティ練馬)
Raionzushitei Nerima (ライオンズシティ練馬) is a 23-year-old condominium located at Nerimaku Nakamura Kita 1 Choume 2-8 (練馬区中村北1丁目2-8), Tokyo, Japan. Built in 2003, it comprises 62 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Nissan Kensetsu (日産建設).
Pricing & Floor Plans
Based on 44 past listings, prices have ranged from 2,970〜6,780万円 (approx. $198,000–$452,000 USD at ¥150/$).
Unit sizes range from 55.1–75.7 sqm (593–815 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 1LDK (1-bedroom w/ living-dining-kitchen), 1R (Studio), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥99.8万/sqm (approx. $6,653/sqm or $618/sqft).
Location & Neighborhood
The property is located at Nerimaku Nakamura Kita 1 Choume 2-8 (練馬区中村北1丁目2-8), Tokyo, Japan. It is a 7-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 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 62 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.
Analyze this property's fair price and negotiation room for free at RE:public.