Overview of Riigaru Horie Kouen (リーガル堀江公園)
Riigaru Horie Kouen (リーガル堀江公園) is a 25-year-old condominium located at Oosakashi Nishiku Minamihorie 1 Choume 21-5 (大阪市西区南堀江1丁目21-5), Osaka, Japan. Built in 2001, it comprises 18 units in a Reinforced Concrete (RC) structure. It was constructed by Andou Kensetsu (安藤建設).
Pricing & Floor Plans
Based on 18 past listings, prices have ranged from 2,080〜5,180万円 (approx. $138,667–$345,333 USD at ¥150/$).
Unit sizes range from 56.2–57.7 sqm (605–621 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥88.3万/sqm (approx. $5,887/sqm or $547/sqft).
Location & Neighborhood
The property is located at Oosakashi Nishiku Minamihorie 1 Choume 21-5 (大阪市西区南堀江1丁目21-5), Osaka, Japan. It is a 4-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.
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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