Overview of Neohaitsu Ootori (ネオハイツ鳳)
Neohaitsu Ootori (ネオハイツ鳳) is a 27-year-old condominium located at Sakaishi Nishiku Ue 546-1 (堺市西区上546-1), Osaka, Japan. Built in 1999, it comprises 51 units in a Reinforced Concrete (RC) structure. It was constructed by Nankai Tatsumura Kensetsu , Morita Kensetsu (南海辰村建設、 モリタ建設).
Pricing & Floor Plans
Based on 19 past listings, prices have ranged from 1,330〜2,480万円 (approx. $88,667–$165,333 USD at ¥150/$).
Unit sizes range from 68.6–80.8 sqm (738–870 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥34.4万/sqm (approx. $2,290/sqm or $213/sqft).
Location & Neighborhood
The property is located at Sakaishi Nishiku Ue 546-1 (堺市西区上546-1), Osaka, Japan. It is a 12-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 27 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 51 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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