Overview of Majiesu Suminoe Kouen (マジェス住之江公園)
Majiesu Suminoe Kouen (マジェス住之江公園) is a 23-year-old condominium located at Oosakashi Suminoe Ku Nikita Shima 1 Choume 2-24 (大阪市住之江区新北島1丁目2-24), Osaka, Japan. Built in 2003, it comprises 62 units in a Reinforced Concrete (RC) structure. It was constructed by Takenakakoumuten (竹中工務店).
Pricing & Floor Plans
Based on 25 past listings, prices have ranged from 2,180〜4,298万円 (approx. $145,333–$286,533 USD at ¥150/$).
Unit sizes range from 66.0–90.5 sqm (710–974 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4SLDK (4-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3SLDK (3-bedroom w/ living-dining-kitchen + service room).
Estimated price per sqm: ¥51.7万/sqm (approx. $3,449/sqm or $320/sqft).
Location & Neighborhood
The property is located at Oosakashi Suminoe Ku Nikita Shima 1 Choume 2-24 (大阪市住之江区新北島1丁目2-24), Osaka, Japan. It is a 2-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 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 62 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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