Overview of Neoroiyaruhaitsu Sumiyoshi Yamanouchi (ネオロイヤルハイツ住吉山之内)
Neoroiyaruhaitsu Sumiyoshi Yamanouchi (ネオロイヤルハイツ住吉山之内) is a 25-year-old condominium located at Oosakashi Sumiyoshi Ku Yamanouchi 2 Choume 5-4 (大阪市住吉区山之内2丁目5-4), Osaka, Japan. Built in 2001, it comprises 66 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Matsumoto Kumi (松本組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥52.2万/sqm (approx. $3,481/sqm or $323/sqft).
Location & Neighborhood
The property is located at Oosakashi Sumiyoshi Ku Yamanouchi 2 Choume 5-4 (大阪市住吉区山之内2丁目5-4), Osaka, Japan. It is a 2-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
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 25 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 66 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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