Overview of Riifugaaden Izumi Chuuou 3 Ban Kan (リーフガーデン和泉中央３番館)
Riifugaaden Izumi Chuuou 3 Ban Kan (リーフガーデン和泉中央３番館) is a 29-year-old condominium located at Izumi Shi Ibuki No 5 Choume 3-3 (和泉市いぶき野5丁目3-3), Osaka, Japan. Built in 1997, it comprises 240 units in a Reinforced Concrete (RC) structure. It was constructed by Toda Kensetsu , Dai Matsu Kensetsu (戸田建設、 大末建設).
Pricing & Floor Plans
Based on 17 past listings, prices have ranged from 1,890〜3,380万円 (approx. $126,000–$225,333 USD at ¥150/$).
Unit sizes range from 76.7–96.3 sqm (826–1037 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥31.3万/sqm (approx. $2,085/sqm or $194/sqft).
Location & Neighborhood
The property is located at Izumi Shi Ibuki No 5 Choume 3-3 (和泉市いぶき野5丁目3-3), 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 29 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 240 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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