September 2015
The following is a selection of apartments that were sold in central Tokyo during the month of September 2015:

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
Proud Akasaka Hikawacho (2007)
3-Bedrooms
¥2,062,000
/sqm
$1,599
/sq ft
254 2.4%

A spacious corner apartment with private rooftop terrace. Located across the street from Hinokicho Park and Tokyo Midtown. Prices have remained around the 2,000,000 Yen/sqm for the past few years. In fact, the very few buildings that do overlook Hinokicho Park have historically remained at high prices.

Bancho Park House (2007)
3-Bedrooms
¥1,938,000
/sqm
$1,503
/sq ft
56 6.2%

This is the highest sale per square meter to date in this building. Average sale prices in 2013 ~ 2014 hovered around 1,500,000 Yen/sqm. This was a corner unit with views.

Bancho Park House (2007)
2-Bedrooms
¥1,596,000
/sqm
$1,238
/sq ft
18 0%

This apartment sold within a very short period and at no discount. It sold for about 11% more per square meter than a similar sized apartment on the same floor sold for 12 months ago.

Aoyama Park Tower (2003)
2-Bedrooms
¥1,892,000
/sqm
$1,467
/sq ft
9 0.5%

This is the highest sale per square meter in this building for the past 6 years, and is 20% higher than the average sale price in 2014. It is also 40% higher than the average sale price in 2012, when prices bottomed out at around 1,360,000 Yen/sqm. During the previous mini-bubble of 2007-2008, re-sale prices peaked at around 2,000,000 ~ 2,200,000 Yen/sqm.

The Roppongi Tokyo (2011)
2-Bedrooms
¥2,015,000
/sqm
$1,563
/sq ft
87 4.0%

The average sale price in 2015 is around 2,005,000 Yen/sqm. When brand new, a similar apartment on a higher floor would have been priced at 1,411,000 Yen/sqm, indicating an appreciation of around 43% since 2011. 

Roi Vert Omotesando (1997)
3-Bedrooms
¥1,577,000
/sqm
$1,223
/sq ft
35 1.8%

A low-rise apartment building in the streets behind Omotesando Avenue. The average sale price in this building in 2010~2011 was 1,140,000 Yen/sqm, indicating an appreciation of around 38% over the past 4 ~ 5 years.

The Parkhouse Minamiaoyama Tokiwamatsu (2013)
3-Bedrooms
¥1,672,000
/sqm
$1,297
/sq ft
52 0%

This apartment was previously listed in 2014 for 1,535,000 Yen/sqm, but re-listed in 2015 for 1,672,000 Yen/sqm, indicating an appreciation of around 9% over the past year. It sold in a short period of time at the full asking price.

Ebisu Garden Terrace (1994)
2-Bedrooms
¥1,489,000
/sqm
$1,155
/sq ft
82 0%

Part of the Ebisu Garden Place complex. This is the highest sale per date on a price per square meter basis for the past 7 years. The average sale price in the building reached a low of 1,130,000 Yen/sqm in 2013, but sales in 2015 have been around 1,420,000 Yen/sqm, showing an appreciation of 25% over the past two years, and 9.2% over the past 12 months. In 2007-2008, apartments were selling for as much as 1,650,000 Yen/sqm.

Grande Maison Shirokane-no-mori The Tower (2015)
2-Bedrooms
¥1,657,000
/sqm
$1,285
/sq ft
69 4.0%

A brand-new high rise alongside Platinum Dori. When new, this apartment would have been priced at around 1,330,000 Yen/sqm by the developer, indicating an appreciation of around 25% in the month since the building was delivered to buyers. All new apartments sold out before completion. Recent re-sale listings have been listed for around 1,900,000 Yen/sqm, while the average achieved re-sale price has been around 1,610,000 Yen/sqm to date.

Branz Azabu Mamianacho (2013)
1-Bedroom
¥1,601,000
/sqm
$1,241
/sq ft
13 3.3%

Located just behind the American Club. When sales first began in 2013, this apartment may have had a sale price of around 1,050,000 Yen, indicating an appreciation of around 52% in two years.

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, and not all transactions are recorded.
  • Japan Property Central cannot guarantee the accuracy of the information provided.
  • The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.
  • Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed is also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.
  • Not every sale is reported above.
  • Price per square meter or per square foot is calculated based on apartment’s internal floor area and does not include balconies, car parks or common areas.
  • Exchange rate is at the time of publishing the article and is subject to change (1 USD: 119.84 Yen).

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