Overview of Sumiyoshichou Paakuhoomuzu (住吉町パークホームズ)
Sumiyoshichou Paakuhoomuzu (住吉町パークホームズ) is a 27-year-old condominium located at Okayamashi Nakaku Sumiyoshichou 1 Choume 78-1 (岡山市中区住吉町1丁目78-1), Okayama, Japan. Built in 1999, it comprises 28 units in a Reinforced Concrete (RC) structure. It was constructed by Mitsuikensetsu (三井建設).
Pricing & Floor Plans
Based on 8 past listings, prices have ranged from 2,250〜2,880万円 (approx. $150,000–$192,000 USD at ¥150/$).
Unit sizes range from 81.7–83.6 sqm (879–900 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥30.7万/sqm (approx. $2,049/sqm or $190/sqft).
Location & Neighborhood
The property is located at Okayamashi Nakaku Sumiyoshichou 1 Choume 78-1 (岡山市中区住吉町1丁目78-1), Okayama, Japan. It is a 5-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 27 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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