Overview of Neohaitsu Kurume (ネオハイツ久留米)
Neohaitsu Kurume (ネオハイツ久留米) is a 35-year-old condominium located at Kurumeshi Chuuouchou 13-22 (久留米市中央町13-22), Fukuoka, Japan. Built in 1991, it comprises 53 units in a Reinforced Concrete (RC) structure. It was constructed by Toukaikougyou , Tekken Kensetsu (東海興業、 鉄建建設).
Pricing & Floor Plans
Based on 31 past listings, prices have ranged from 580〜1,590万円 (approx. $38,667–$106,000 USD at ¥150/$).
Unit sizes range from 56.5–78.2 sqm (608–842 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥19.0万/sqm (approx. $1,265/sqm or $117/sqft).
Location & Neighborhood
The property is located at Kurumeshi Chuuouchou 13-22 (久留米市中央町13-22), Fukuoka, Japan. It is a 4-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 53 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.
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