Overview of Asahi Puraza Suminoe Kouen (朝日プラザ住之江公園)
Asahi Puraza Suminoe Kouen (朝日プラザ住之江公園) is a 38-year-old condominium located at Oosakashi Suminoe Ku Nishi Kagaya 4 Choume 3-5 (大阪市住之江区西加賀屋4丁目3-5), Osaka, Japan. Built in 1988, it comprises 182 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Hasegawakoumuten (長谷川工務店).
Pricing & Floor Plans
Based on 80 past listings, prices have ranged from 980〜2,980万円 (approx. $65,333–$198,667 USD at ¥150/$).
Unit sizes range from 51.5–85.8 sqm (554–924 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 1R (Studio), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 3DK (3-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥37.9万/sqm (approx. $2,529/sqm or $235/sqft).
Location & Neighborhood
The property is located at Oosakashi Suminoe Ku Nishi Kagaya 4 Choume 3-5 (大阪市住之江区西加賀屋4丁目3-5), 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 38 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 182 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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