The following is a selection of apartments that were sold in central Tokyo during the month of May 2017:

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
Proud Shinjuku Gyoen Empire (2010)
1-Bedroom
¥2,107,000
/sqm
$1,765
/sq ft
16 6.6%
A 13-storey apartment building located in an enviable position right on the edge of the Shinjuku Gyoen National Garden.

This apartment was on a high floor with views directly over the park. It sold within days of being listed. There are currently 2 other units for sale in the building with prices ranging from 1,460,000 ~ 1,870,000 Yen/sqm.

Akasaka Tower Residence (2008)
2-Bedrooms
¥2,072,000
/sqm
$1,735
/sq ft
55 0.5%

A 45-storey luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites.

The current asking price in this building averages 2,100,000 Yen/sqm, with apartments on the 10th floor and lower having an average price of 1,800,000 Yen/sqm and apartments on the 20th floor and above having an average asking price of 2,230,000 Yen/sqm.

This apartment has been the second highest sale in this building on a price-per-square-meter basis this year. It was on a mid-floor and sold at only a very minor discount. It sold for approximately 43.8% more than a similar apartment a few floors up sold for in 2013.

3 apartments sold in this building this month, with an average sale price of 189,000,000 Yen, and 1,870,000 Yen/sqm. The average resale price to date in 2017 has been around 1,822,000 Yen/sqm, up 5.9% from 2016 (1,720,000 Yen/sqm) but down 11.5% from 2015 (2,060,000 Yen/sqm).

City Tower Azabujuban (2009)
2-Bedrooms
¥2,052,000
/sqm
$1,720
/sq ft
15 0%
Located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,750,000 ~ 2,270,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of around 1,750,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 1,965,000 Yen/sqm.

The average sale price to date in 2017 has been around 1,880,000 Yen/sqm, up 6.5% from 2016 (1,765,000 Yen/sqm) and up 0.8% from 2015 (1,865,000 Yen/sqm).

This apartment has been the most expensive reported resale in this building on a price-per-square-meter basis since late 2015 when a similar apartment a few floors up sold for 2,127,000 Yen/sqm.

The Parkhouse Gran Sanbancho (2014)
3-Bedrooms
¥1,781,000
/sqm
$1,490
/sq ft
221 5.3%
A luxurious high-rise located in a prestigious location just 250 meters west of the Imperial Palace moat. When new, apartments had an average price of around 1,450,000 Yen/sqm, and all new apartments sold out five months before construction was completed.

The current asking price in this building is around 1,975,000 Yen/sqm.

This apartment sold for approximately 17% more than its price when brand new.

Grand Suite Hiroo (2014)
3-Bedrooms
¥1,763,000
/sqm
$1,475
/sq ft
190 2.5%
A 8 storey building located in the Hiroo neighbourhood in central Tokyo. When new, apartments had an average price of around 1,360,000 Yen/sqm.

This apartment sold for approximately 2.4% more than a similar apartment a few floors up is currently listed for, and has been the highest reported resale in this building on a price-per-square-meter basis since the building was completed in 2014.

Current asking prices are around 1,710,000 Yen/sqm.

Toranomon Towers Residence (2006)
1-Bedroom
¥1,730,000
/sqm
$1,450
/sq ft
85 0%
A 41-storey high-rise located in the Toranomon district.

This was a 1-Bedroom unit on a low floor. It sold at full ask. It sold for approximately 47% more than an identical apartment a few floors up sold for in late 2011.

The current asking price in this building ranges from 1,770,000 ~ 2,500,000 Yen/sqm.

Branz Azabu Mamianacho (2013)
2-Bedrooms
¥1,624,000
/sqm
$1,360
/sq ft
183 3.6%
An 8-storey apartment building located just behind the Tokyo American Club in central Tokyo. When new, apartments had an average price of 1,200,000 Yen/sqm for low floors and 1,450,000 Yen/sqm for high floors.

The average asking price in this building is currently 1,760,000 Yen/sqm, with apartments on the 4th floor and lower having an average ask of 1,655,000 Yen/sqm, and higher floors having an average ask of 1,980,000 Yen/sqm.

This apartment sold for 30% more than its price when brand new.

Park Court Akasaka The Tower (2009)
2-Bedrooms
¥1,612,000
/sqm
$1,350
/sq ft
9 1.3%
A luxury high-rise in Akasaka. The current average asking price in this building is around 1,800,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of 1,715,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 1,900,000 Yen/sqm (approx. 10% more than lower floors).

The average resale price to date in 2017 is around 1,555,000 Yen/sqm, down 1.3% from 2016 (1,575,000 Yen/sqm) and down 8.7% from 2015 (1,703,000 Yen/sqm).

This was a corner unit on a low floor. It sold in a very short period of time. 

Glanz Ober Nanpeidai (2008)
2-Bedrooms
¥1,611,000
/sqm
$1,350
/sq ft
55 0%
A luxury low-rise located in a high-end residential neighbourhood between Daikanyama and Shibuya Stations. When new, apartments were priced between 1,800,000 ~ 2,800,000 Yen/sqm.

This has been the only publicly reported resale in this building since it was completed in 2008. It was an apartment on the ground floor and sold at full asking price.

Current asking prices in this building range from 1,710,000 ~ 2,105,000 Yen/sqm.

The Parkhouse Nishiazabu Residence (2014)
2-Bedrooms
¥1,424,000
/sqm
$1,190
/sq ft
64 0.8%
A 24-storey high-rise located a 6 min walk from Hiroo Station and 12 min walk from Roppongi Station. When new, apartments were priced at around 1,300,000 Yen/sqm.

Current asking prices in this building range from 1,650,000 ~ 2,200,000 Yen/sqm, with an average of 1,900,000 Yen/sqm.

This was a compact 2-Bedroom apartment on a low floor. It sold for approximately 20% more than it’s original price when brand new.

The average resale price in this building in 2017 has been around 1,560,000 Yen/sqm, up 8.7% from 2016 (1,435,000 Yen/sqm) and up 1.6% from 2015 (1,535,000 Yen/sqm).

Palais Royale Minami Aoyama (1977)
2-Bedroom
¥1,422,000
/sqm
$1,190
/sq ft
21 6.1%
A low-rise, 40-year old vintage apartment building in the Minami Aoyama 5 Chome address. The building is a 4 minute walk from Omotesando Station. This area is in high-demand, and older buildings are just as popular as newer ones.

The apartment went under offer in a very short period of time. It has been the highest resale price in the building on a price-per-square-meter basis over the past 10 years. There have only been 8 reported re-sales in this building over the past 30 years, with one unit selling for a record high of 3,900,000 Yen/sqm in 1990.

Kachidoki The Tower (2016)
6 sales
¥1,043,000
/sqm
$875
/sq ft
A 53-story, 1,420-unit apartment building located on a man-made island in Tokyo bay. Construction was completed in December 2016. Since then, 149 apartments have already appeared on the re-sale market, along with several cancellations by the developer. As at May 2017, there were 71 apartments listed for sale with an average asking price of 1,100,000 Yen/sqm.

There were 6 reported re-sales in the building in May with an average sale price of 1,043,000 Yen/sqm. These apartments re-sold for 10 ~ 24% more than their original prices when purchased new from the developer.

The average resale price to date in 2017 has been around 1,050,000 Yen/sqm.

Shuwa Aoyama Residence (1964)
1-Bedroom
¥998,000
/sqm
$835
/sq ft
30 0%
Completed at the same time as the 1964 Tokyo Olympics, this is a 8-storey, 53-yr old apartment building located a 6 minute walk from Shibuya Station. This was the very first of the ‘Shuwa’ series of vintage apartment buildings. It was designed by architect Yoshinobu Ashihara who also designed the Komazawa Olympic Gymnasium (1964) and Sony Building (1966).

The apartment owners association are currently discussing the possibility of demolishing and rebuilding, but a decision has not yet been made.

This was a renovated apartment on a low floor. It sold for approximately 134% more than it was previously reported to have sold for in 2012, making this potentially one of the biggest flips we have seen.

This has been the most expensive resale on a price-per-square-meter basis to have ever been reported in this building, and is more than double the average resale price of 480,000 Yen/sqm seen over the past 30 years.

Domus Nishiazabu (1986)
5-Bedrooms
¥997,000
/sqm
$835
/sq ft
246 0%
A vintage, low-rise apartment building located 230 meters from Roppongi Hills.

This 5-Bed, 2-Bath apartment with roof terrace was unusually large with almost 350 sqm of living space. Over the past 20 years, resale prices in this building have ranged from 830,000 ~ 1,485,000 Yen/sqm.

 

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 are 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: 110.96 Yen).

Loading