Overview of Nobakaneichi Sumiyoshi (ノバカネイチ住吉)
Nobakaneichi Sumiyoshi (ノバカネイチ住吉) is a 40-year-old condominium located at Oosakashi Sumiyoshi Ku Suminoe 4 Choume 10-27 (大阪市住吉区墨江4丁目10-27), Osaka, Japan. Built in 1986, it comprises 22 units in a Reinforced Concrete (RC) structure. It was constructed by Matsumoto Kumi (松本組).
Pricing & Floor Plans
Based on 36 past listings, prices have ranged from 650〜2,380万円 (approx. $43,333–$158,667 USD at ¥150/$).
Unit sizes range from 42.8–77.8 sqm (461–837 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 3DK (3-bedroom w/ dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥26.3万/sqm (approx. $1,751/sqm or $163/sqft).
Location & Neighborhood
The property is located at Oosakashi Sumiyoshi Ku Suminoe 4 Choume 10-27 (大阪市住吉区墨江4丁目10-27), 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 40 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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