Tower Mansion Development Advancing in Osaka's Nakanoshima: Popular for Proximity to Work and Home, All Units Sold for 600 Million Yen
A tower mansion development in Osaka's Nakanoshima area has seen all units sell out at an average price of 110 million yen, driven by the location's proximity to work and future transportation enhancements.
In the Nakanoshima area of Osaka, a significant tower mansion development is underway, with particular focus on residential projects that offer commuting convenience. The new 'Naniwa-suji Line', scheduled to open in 2031, will connect the city's northern and southern districts and enhance accessibility to Kansai International Airport. One of the developments, the 46-story 'Cielia Tower Nakanoshima' featuring 364 units, has already sold out before its official completion, indicating high demand in the region.
The area surrounding the new Naniwa-suji Line station in Nakanoshima is experiencing a surge in tower mansion construction, as previous large-scale housing options were limited. Developers like Kansai Electric Realty and Sumitomo Corporation are preparing to construct additional tall buildings, including the planned 57-story tower, which is poised to become the tallest in western Japan. The president of Kansai Electric Realty noted the area's prior lack of large residential developments and highlighted the increasing interest in living close to work, particularly due to the anticipated improvements in transport accessibility.
With prices notably increasing due to demand, the recently sold units averaged about 76 square meters and were priced at around 110 million yen, with some reaching up to approximately 590 million yen. Notably, 60% of buyers are purchasing for personal residence rather than as investments, reflecting a shift in residential priorities where proximity to work-related conveniences is becoming a significant factor in home buying decisions. The rise in land values and construction efforts is set to reshape the residential landscape in Nakanoshima.