Overview of Raitsushitei Higashi Neyagawa 2 Ban Kan (ライツシティ東寝屋川２番館)
Raitsushitei Higashi Neyagawa 2 Ban Kan (ライツシティ東寝屋川２番館) is a 38-year-old condominium located at Neyagawashi Ume Ga Oka 1 Choume 17-2 (寝屋川市梅が丘1丁目17-2), Osaka, Japan. Built in 1988, it comprises 211 units in a Reinforced Concrete (RC) structure. It was constructed by Zenidaka Kumi (銭高組).
Pricing & Floor Plans
Based on 74 past listings, prices have ranged from 530〜1,690万円 (approx. $35,333–$112,667 USD at ¥150/$).
Unit sizes range from 58.8–80.8 sqm (633–870 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥15.9万/sqm (approx. $1,061/sqm or $99/sqft).
Location & Neighborhood
The property is located at Neyagawashi Ume Ga Oka 1 Choume 17-2 (寝屋川市梅が丘1丁目17-2), Osaka, 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 38 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 211 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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