Overview of Asahi Puraza Matsubara 3 (朝日プラザ松原３)
Asahi Puraza Matsubara 3 (朝日プラザ松原３) is a 39-year-old condominium located at Matsubara Shi Amami Ware Dou 1 Choume 202-5 (松原市天美我堂1丁目202-5), Osaka, Japan. Built in 1987, it comprises 113 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Tekken Kensetsu (鉄建建設).
Pricing & Floor Plans
Based on 19 past listings, prices have ranged from 800〜1,680万円 (approx. $53,333–$112,000 USD at ¥150/$).
Unit sizes range from 59.9–83.1 sqm (645–894 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), 4SLDK (4-bedroom w/ living-dining-kitchen + service room), 4DK (4-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥23.0万/sqm (approx. $1,535/sqm or $143/sqft).
Location & Neighborhood
The property is located at Matsubara Shi Amami Ware Dou 1 Choume 202-5 (松原市天美我堂1丁目202-5), Osaka, Japan. It is a 15-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 39 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 113 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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