Overview of Rejidensu Okiya Shiki (レジデンス奥屋敷)
Rejidensu Okiya Shiki (レジデンス奥屋敷) is a 34-year-old condominium located at Nagahama Shi Jinshou Machi 455 (長浜市神照町455), Shiga, Japan. Built in 1992, it comprises 12 units in a Reinforced Concrete (RC) structure. It was constructed by Miyamoto Kumi (宮本組).
Pricing & Floor Plans
Based on 6 past listings, prices have ranged from 635〜900万円 (approx. $42,333–$60,000 USD at ¥150/$).
Unit sizes range from 71.6–84.1 sqm (771–905 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥10.6万/sqm (approx. $707/sqm or $66/sqft).
Location & Neighborhood
The property is located at Nagahama Shi Jinshou Machi 455 (長浜市神照町455), Shiga, 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 34 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.
Analyze this property's fair price and negotiation room for free at RE:public.