Overview of Nikkou Paresuguranteeji Beppu (日興パレスグランテージ別府)
Nikkou Paresuguranteeji Beppu (日興パレスグランテージ別府) is a 39-year-old condominium located at Beppu Shi Ishigaki Higashi 10 Choume 5-45 (別府市石垣東10丁目5-45), Oita, Japan. Built in 1987, it comprises 95 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Kan Kumi (菅組).
Pricing & Floor Plans
Based on 38 past listings, prices have ranged from 350〜1,700万円 (approx. $23,333–$113,333 USD at ¥150/$).
Unit sizes range from 31.2–73.7 sqm (336–793 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), 1DK (1-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥21.4万/sqm (approx. $1,429/sqm or $133/sqft).
Location & Neighborhood
The property is located at Beppu Shi Ishigaki Higashi 10 Choume 5-45 (別府市石垣東10丁目5-45), Oita, 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 39 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 95 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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