Overview of Gurandohaitsu Honchou (グランドハイツ本町)
Gurandohaitsu Honchou (グランドハイツ本町) is a 43-year-old condominium located at Wakayamashi Nishi Kuginuki Chou 3 Choume 13-1 (和歌山市西釘貫丁3丁目13-1), Wakayama, Japan. Built in 1983, it comprises 45 units in a Reinforced Concrete (RC) structure. It was constructed by Nisshin Kensetsu Kougyou (日新建設工業).
Pricing & Floor Plans
Based on 46 past listings, prices have ranged from 148〜680万円 (approx. $9,867–$45,333 USD at ¥150/$).
Unit sizes range from 55.9–60.4 sqm (602–650 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3DK (3-bedroom w/ dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥9.5万/sqm (approx. $635/sqm or $59/sqft).
Location & Neighborhood
The property is located at Wakayamashi Nishi Kuginuki Chou 3 Choume 13-1 (和歌山市西釘貫丁3丁目13-1), Wakayama, Japan. It is a 10-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 43 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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