Overview of Guriinsukuea Nikita Shima 1 Goutou (グリーンスクエア新北島１号棟)
Guriinsukuea Nikita Shima 1 Goutou (グリーンスクエア新北島１号棟) is a 35-year-old condominium located at Oosakashi Suminoe Ku Nikita Shima 7 Choume 2-1 (大阪市住之江区新北島7丁目2-1), Osaka, Japan. Built in 1991, it comprises 83 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Matsumura Kumi (松村組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥26.6万/sqm (approx. $1,771/sqm or $165/sqft).
Location & Neighborhood
The property is located at Oosakashi Suminoe Ku Nikita Shima 7 Choume 2-1 (大阪市住之江区新北島7丁目2-1), Osaka, Japan. It is a 6-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 35 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 83 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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