Overview of Miyako Shima Ribaashitei (都島リバーシティ)
Miyako Shima Ribaashitei (都島リバーシティ) is a 33-year-old condominium located at Oosakashi Miyako Shima Ku Daitou Machi 3 Choume 3-22 (大阪市都島区大東町3丁目3-22), Osaka, Japan. Built in 1993, it comprises 46 units in a Reinforced Concrete (RC) structure. It was constructed by Mizuma Kumi (水間組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥39.7万/sqm (approx. $2,647/sqm or $246/sqft).
Location & Neighborhood
The property is located at Oosakashi Miyako Shima Ku Daitou Machi 3 Choume 3-22 (大阪市都島区大東町3丁目3-22), Osaka, Japan. It is a 29-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 33 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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