Overview of Miyako Shima Paakuhoomuzu (都島パークホームズ)
Miyako Shima Paakuhoomuzu (都島パークホームズ) is a 39-year-old condominium located at Oosakashi Miyako Shima Ku Miyako Shima Kita Toori 2 Choume 19-2 (大阪市都島区都島北通2丁目19-2), Osaka, Japan. Built in 1987, it comprises 52 units in a Reinforced Concrete (RC) structure. It was constructed by Kumagaigumi (熊谷組).
Pricing & Floor Plans
Based on 43 past listings, prices have ranged from 1,080〜4,280万円 (approx. $72,000–$285,333 USD at ¥150/$).
Unit sizes range from 46.8–94.7 sqm (504–1019 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥55.3万/sqm (approx. $3,689/sqm or $343/sqft).
Location & Neighborhood
The property is located at Oosakashi Miyako Shima Ku Miyako Shima Kita Toori 2 Choume 19-2 (大阪市都島区都島北通2丁目19-2), Osaka, Japan. It is a 9-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 39 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 52 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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