Overview of Pasaaju Kokurakita (パサージュ小倉北)
Pasaaju Kokurakita (パサージュ小倉北) is a 35-year-old condominium located at Kitakyuushuushi Kokurakita Ku Akira 1 Choume 14-24 (北九州市小倉北区日明1丁目14-24), Fukuoka, Japan. Built in 1991, it comprises 56 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Yoshimoto Kumi (吉本組).
Pricing & Floor Plans
Based on 34 past listings, prices have ranged from 500〜1,680万円 (approx. $33,333–$112,000 USD at ¥150/$).
Unit sizes range from 56.2–69.2 sqm (605–745 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥9.4万/sqm (approx. $630/sqm or $59/sqft).
Location & Neighborhood
The property is located at Kitakyuushuushi Kokurakita Ku Akira 1 Choume 14-24 (北九州市小倉北区日明1丁目14-24), Fukuoka, Japan. It is a 19-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 56 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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