Overview of Nikoohaitsu Sumiyoshi (ニコーハイツ住吉)
Nikoohaitsu Sumiyoshi (ニコーハイツ住吉) is a 53-year-old condominium located at Oosakashi Suminoe Ku Hamaguchi Nishi 2 Choume 11-18 (大阪市住之江区浜口西2丁目11-18), Osaka, Japan. Built in 1973, it comprises 48 units in a Reinforced Concrete (RC) structure. It was constructed by Okazaki Kougyou (岡崎工業).
Pricing & Floor Plans
Based on 48 past listings, prices have ranged from 360〜1,380万円 (approx. $24,000–$92,000 USD at ¥150/$).
Unit sizes range from 41.6–96.7 sqm (448–1041 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 2DK (2-bedroom w/ dining-kitchen), 1R (Studio), 3LDK (3-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥11.5万/sqm (approx. $767/sqm or $71/sqft).
Location & Neighborhood
The property is located at Oosakashi Suminoe Ku Hamaguchi Nishi 2 Choume 11-18 (大阪市住之江区浜口西2丁目11-18), Osaka, Japan. It is a 8-minute walk to the nearest station. This is considered good station access by Japanese standards.
Investment Perspective
Seismic standards: Built in 1973, this property predates Japan's 1981 New Seismic Design Standards (新耐震基準). Buildings constructed before June 1981 were built to older earthquake resistance codes. Buyers should consider seismic retrofit status.
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 53 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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