Tokyo Apartment Sales in June 2017

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

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
Akasaka Tower Residence (2008)
2-Bedrooms
¥2,175,000
/sqm
$1,785
/sq ft
567 2.4%
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 2,144,000 Yen/sqm, with apartments on the 10th floor and lower having an average price of 1,840,000 Yen/sqm and apartments on the 20th floor and above having an average asking price of 2,330,000 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 one of the floors in the building that feature ceiling heights of between 3.2 ~ 3.6 meters. The apartment had been on the market for 1.5 years and sold at only a small discount. In 2009, a similar sized apartment sold for 1,190,000 Yen/sqm, indicating a potential appreciation of as much as 83% over 8 years. A total of three apartments were reported to have sold in June, with an average sale price of 2,084,000 Yen/sqm.

The average resale price in this building to date in 2017 has been around 1,893,000 Yen/sqm, up 10% from 2016 (1,720,000 Yen/sqm), but down 8.1% from 2015 (2,060,000 Yen/sqm).

Park Court Azabujuban The Tower (2010)
2-Bedrooms
¥1,964,000
/sqm
$1,610
/sq ft
55 3.1%
A 36-storey high rise in the Azabu Juban area with concierge, gym, guest suite and resident lounge. Current asking prices in this building range from 1,825,000 ~ 2,000,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of around 1,960,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 2,030,000 Yen/sqm.

There have been 4 reported re-sales to date in 2017 with an average price of around 1,855,000 Yen/sqm, up 1.0% from 2016 (1,837,000 Yen/sqm), and up 1.0% from 2015 (1,838,000 Yen/sqm).

This was a compact apartment on a high floor with west facing views (no views of Tokyo Tower).  It sold for approximately 45% more than an identical apartment a few floors down sold for in 2014. It has also been the second highest resale on a price-per-square-meter basis in this building over the past 12 months.

The Roppongi Tokyo (2011)
1-Bedroom
¥1,919,000
/sqm
$1,575
/sq ft
19 2.1%
A 39-storey high rise in the Roppongi neighbourhood with concierge, gym, guest suite and resident lounge. Current asking prices in this building range from 1,910,000 ~ 2,575,000 Yen/sqm, with an average price of around 2,240,000 Yen/sqm.

There have been 2 reported re-sales in this building in 2017 with an average sale price of around 1,915,000 Yen/sqm, down 8.8% from 2016 (2,100,000 Yen/sqm), and down 4.7% from 2015 (2,010,000 Yen/sqm).

This apartment was a compact 1-Bedroom corner unit on a mid-floor. In 2012 and 2013, similar apartments were selling for around 1,300,000 Yen/sqm, indicating a potential appreciation of around 47% over the past 4~5 years.

City Tower Azabu Juban (2009)
1-Bedroom
¥1,919,000
/sqm
$1,575
/sq ft
118 3.5%
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 1,906,000 Yen/sqm, up 8.0% from 2016 (1,765,000 Yen/sqm) and up 2.2% from 2015 (1,865,000 Yen/sqm).

This was an east facing apartment on a high floor. It was an investment-type apartment with a tenant in place and sold with a gross yield of approximately 3.72%. It sold for approximately 40% more than a similar apartment a few floors down sold for in 2013.

Hirakawacho Mori Tower Residence (2009)
1-Bedroom
¥1,791,000
/sqm
$1,470
/sq ft
86 1.2%
A 24-storey mixed-use office and residential building developed by Mori Building in 2009. Lower floors contain office, while upper floors contain luxurious residences. When new, apartments were priced between 1,100,000 ~ 1,800,000 Yen/sqm, while penthouse units were priced at around 3,000,000 Yen/sqm.

This was a spaciously-sized 1-Bedroom apartment with a sunny exposure looking towards the National Diet. There are two similar sized apartments facing different directions that are currently listed for sale for around 2,000,000 Yen/sqm, and both are leased to tenants.

Branz Yoyogi (2016)
2-Bedrooms
¥1,765,000
/sqm
$1,450
/sq ft
34 0%
Branz Yoyogi is a 14-storey compact-style apartment building located alongside the Yamanote Line train tracks and just south of the Shinjuku business district. When new, apartments had an average price of around 1,345,000 Yen/sqm, with units on the higher floors priced at around 1,445,000 Yen/sqm.

This apartment resold for approximately 15~20% more than its price when brand new. There is currently an identical unit on a low floor listed for resale for 1,582,000 Yen/sqm.

This has been the 3rd resale in the 42-unit building since its completion in September 2016. Resale prices have ranged from 1,430,000 ~ 1,765,000 Yen/sqm.

Park Court Toranomon Atago Tower (2008)
2-Bedrooms
¥1,737,000
/sqm
$1,425
/sq ft
46 8.1%
A 30-storey luxury high-rise located between Toranomon Hills and Tokyo Tower.

This was a spaciously-sized corner apartment on a high floor. This has been the only reported sale in this building in 2017. It sold for approximately 20% more than the average sale price in 2016 (1,450,000 Yen/sqm) and 7.9% more than the average sale price in 2015 (1,610,000 Yen/sqm).

The current asking prices in this building range from 1,670,000 ~ 1,890,000 Yen/sqm.  Of the 231 units in the building, there were only 4 available for sale as at June 2017.

Proud Ebisu (2012)
2-Bedrooms
¥1,695,000
/sqm
$1,390
/sq ft
28 0.8%
A 8-storey building located a 4 ~ 6 min walk from Ebisu Station.

This has been the 2nd most expensive reported resale in this building since its completion in 2012. It sold for approximately 30% more than an identical apartment on a lower floor sold for in late 2014.

The average resale date in 2017 has been around 1,592,000 Yen/sqm, up 3.5% from 2016 (1,538,000 Yen/sqm).

Homat Sanbancho (2003)
3-Bedrooms
¥1,663,000
/sqm
$1,365
/sq ft
261 2.7%
Homat Sanbancho is one of the few newer ‘Homat’ series of apartment buildings. They are known for quality finish, and relatively large floor plans, making them a popular choice with expat tenants.

The property is located in the wealthy Bancho neighbourhood on the western side of the Imperial Palace. When new, apartments were priced between 1,000,000 ~ 2,150,000 Yen/sqm.

This apartment was on a low floor with limited views. In the past 3 years, there have been 3 apartments listed for resale in this 68-unit building, with apartments on high floors having average list prices of around 1.8 ~ 1.95 million Yen/sqm.

Wellith Roppongi (2014)
1-Bedroom
¥1,441,000
/sqm
$1,180
/sq ft
100 2.5%
A 17-storey building located just around the corner from Roppongi’s main bar/club street and a 10 minute walk to Roppongi Hills. When apartments were sold by the developer in 2013 ~ 2014, the average price was around 1,240,000 Yen/sqm. The average current asking price is around 1,535,000 Yen/sqm.

The average resale price to date in 2017 is around 1,412,000 Yen/sqm, down 17.9% from 2016 (1,719,000 Yen/sqm) and down 0.4% from 2015 (1,418,000 Yen/sqm).

This apartment was on a low floor and sold for approximately 16% less than an identical apartment on a high floor sold for in early 2016.

Chateau Toyo (1971)
2-Bedrooms
¥1,005,000
/sqm
$825
/sq ft
12 0%
Chateau Toyo is a vintage apartment building located down the road from the Aoyama Cemetery and a 7 minute walk from Omotesando Station.

This apartment sold in a very short period of time and with no discount. It has been the 2nd highest reported sale on a price-per-square-meter basis in the building to have ever been reported (a previous record sale occurred in 2016 at a similar price).

There have only been 6 reported resales in this 34-unit building over the past 30 years. In the early 2000’s apartments were re-selling for around 600,000 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: 113.36 Yen).