Overview of Runahaitsu Tsu (ルナハイツ津)
Runahaitsu Tsu (ルナハイツ津) is a 44-year-old condominium located at Tsushi Hachi Machi 1 Choume 9-16 (津市八町1丁目9-16), Mie, Japan. Built in 1982, it comprises 104 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Kanzaki Kumi (神崎組).
Pricing & Floor Plans
Based on 102 past listings, prices have ranged from 180〜790万円 (approx. $12,000–$52,667 USD at ¥150/$).
Unit sizes range from 29.2–50.9 sqm (314–548 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2K (2-bedroom w/ kitchen), 1K (1-bedroom w/ kitchen), 2DK (2-bedroom w/ dining-kitchen), 1DK (1-bedroom w/ dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥9.6万/sqm (approx. $641/sqm or $60/sqft).
Location & Neighborhood
The property is located at Tsushi Hachi Machi 1 Choume 9-16 (津市八町1丁目9-16), Mie, Japan. It is a 3-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 44 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 104 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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