Overview of Raionzumanshon Matsue Kita Hori (ライオンズマンション松江北堀)
Raionzumanshon Matsue Kita Hori (ライオンズマンション松江北堀) is a 36-year-old condominium located at Matsue Shi Kita Hori Machi 16 (松江市北堀町16), Shimane, Japan. Built in 1990, it comprises 24 units in a Reinforced Concrete (RC) structure. It was constructed by Kanatsu Giken Kougyou (カナツ技建工業).
Pricing & Floor Plans
Based on 11 past listings, prices have ranged from 900〜2,300万円 (approx. $60,000–$153,333 USD at ¥150/$).
Unit sizes range from 52.5–95.7 sqm (565–1030 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 2DK (2-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2SDK (2-bedroom w/ dining-kitchen + service room).
Estimated price per sqm: ¥21.5万/sqm (approx. $1,431/sqm or $133/sqft).
Location & Neighborhood
The property is located at Matsue Shi Kita Hori Machi 16 (松江市北堀町16), Shimane, Japan. It is a 22-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 36 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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