The Park House Shinsaibashi Tower (ザ・パークハウス心斎橋タワー): Phase 2, First Round Price Analysis! Attractive Prices on Lower Floors – Will It Be Another Lottery Frenzy?! (Sugoroku)

[From the SumuLab editorial department] The information in this blog post is as of the date of posting.Please refer to the property's official website for current sales information.

*This blog article was originally written in Japanese and has been translated by AI. From the Sumu-lab Editorial Team

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This time, I’ll be analyzing the prices for The Park House Shinsaibashi Tower (ザ・パークハウス心斎橋タワー), which has begun its Phase 2, First Round of sales.

Originally, this round was scheduled for mid-September, but it was postponed for about a month. The new schedule sets the application deadline for Saturday, October 11, and the lottery for Sunday, October 12. ~~(There seem to have been various reasons behind the one-month delay.)~~

I initially thought this project was quite expensive, but once sales opened, it turned into a full-blown lottery frenzy! Similarly, The Park House Osaka Umeda Tower (ザ・パークハウス大阪梅田タワー) recently held its preview event and completely sold out despite significant price increases. The Park House brand is clearly on fire! (I attended the preview for The Park House Osaka Umeda Tower — it was an outstanding condominium!)

Some resale listings have already appeared for newly completed, never-lived-in units at The Park House Osaka Umeda Tower. They’re quite expensive, so I’m not sure if they’ll actually sell, but those who bought during the first or final sales phases are already seeing substantial unrealized gains. Congratulations to all the lucky buyers of this prime tower within walking distance of Umeda!

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Now, let’s dive into the price analysis for The Park House Shinsaibashi Tower!

— Please also check out my previous related articles —

https://www.sumu-lab.com/archives/109918/
https://www.sumu-lab.com/archives/107392/

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1 Phase 2, First Round Pricing
2 Summary

Phase 2, First Round Pricing

Lowest price per tsubo: ¥4.52 million (West-facing, middle layout, 6th floor)
Highest price per tsubo: ¥5.53 million (Southwest corner, 6th floor)

What?! That’s surprisingly low for a new tower condominium! Even though it’s on the lower floors, I expected some price increase given the previous lottery frenzy, but instead, prices have dropped sharply due to the lower elevation.

In terms of new tower condo pricing comparisons at similar floor levels (with some variation by orientation), here’s how it stacks up from highest to lowest:

Brillia Tower Kitahama ＞ The Park House Shinsaibashi Tower ＞ Regnas Tower Shin-Umeda

For the lower floors, however, prices are almost equivalent. Still, I was genuinely surprised by how aggressively The Park House Shinsaibashi Tower was priced. (For reference, the “good deal” units at Regnas Tower Shin-Umeda (レグナスタワー新梅田) have already exceeded 20x lottery ratios, while Brillia Tower Kitahama’s lower corner units are reportedly reaching double-digit competition rates — incredible!)

When I visited The Park House Shinsaibashi Tower earlier, I heard that some units had lottery ratios over 10x. Given these new prices, it’s likely that many investors will jump in, along with genuine owner-occupiers who have been waiting for a chance to live in the Shinsaibashi area. A 70㎡ unit priced below ¥100 million is exceptionally appealing in today’s market for new tower condominiums. ~~Recently, even secondhand tower condos have been listed at overly ambitious prices, which has led to growing inventory — so new builds like this actually look quite attractive.~~

While all orientations have some compromise in terms of view, the south and east sides face roads, providing a bit of distance from the nearest buildings — which is why they’re priced higher than the west-facing units. (GGO South and Nakanoshima 5-chome Twin Towers also tend to have expensive averages, but let’s hope for some nice bargains on the lower floors!)

Some units here will be tough to win in the lottery simply due to demand, but overall pricing is reasonable, making it easier for serious buyers to consider.

Mitsubishi Estate has raised prices significantly in past sales, but this bold low-floor pricing is actually a pleasant surprise. While the average price across all floors remains high, it’s a common trend for lower floors to be more affordable — perfect for those who prioritize convenience and floor area over views.

Now, let’s take a look at the price chart below.

*Click to enlarge the chart.
*Prices are shown in millions of yen.

Summary

Even though these are lower-floor units with no views, the per-tsubo and gross prices are still quite attractive. In today’s new-build tower market, it’s now standard for identical layouts to differ by several tens of millions of yen depending on the view quality.

From an appreciation standpoint, high-floor units might have more upside, but total purchase cost (“gross”) is still a major barrier. Given how steep high-floor prices have become lately, buyers must balance what to compromise — “view,” “location,” or “size.” From a daily-life perspective, sacrificing view tends to be the most manageable, whereas compromising on location or size can cause more practical inconvenience or stress.

That said, low-floor units here likely won’t have very high resale value. They’re better suited for genuine occupancy or income-oriented investment (focus on stable rent rather than capital gain). It’s unlikely that anyone could flip these units for millions in quick profit immediately after completion. (Of course, if post-completion resales end up going for very high prices, I’ll happily admit I was wrong!)

For reference, in the same Shinsaibashi area, the six-year-old Laurel Tower Shinsaibashi has been struggling to sell its lower floors — for example, a 55㎡ unit on the 6th floor (with no view) failed to sell at ¥89.8 million and was recently reduced to ¥84.8 million (¥5.09 million per tsubo).

Considering that The Park House Shinsaibashi Tower now offers some units even cheaper than this six-year-old Laurel Tower, the new project looks even more appealing. It’s worth benchmarking against these secondhand listings as you plan your decision.

Stay tuned for the next article!

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[From the SumuLab editorial department] The information in this blog post is as of the date of posting.Please refer to the property's official website for current sales information.