Overview of Paakuhaitsu Iso Michi (パークハイツ磯路)
Paakuhaitsu Iso Michi (パークハイツ磯路) is a 44-year-old condominium located at Oosakashi Minatoku Iso Michi 2 Choume 16-19 (大阪市港区磯路2丁目16-19), Osaka, Japan. Built in 1982, it comprises 40 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Okada Kumi (岡田組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥36.4万/sqm (approx. $2,429/sqm or $226/sqft).
Location & Neighborhood
The property is located at Oosakashi Minatoku Iso Michi 2 Choume 16-19 (大阪市港区磯路2丁目16-19), Osaka, Japan. It is a 8-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 44 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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