Tokyo apartment sales in July 2017

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

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
The Roppongi Tokyo (2011)
3-Bedroom
¥2,290,000
/sqm
$1,935
/sq ft
161 4.3%
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 ~ 2,650,000 Yen/sqm, with an average price of around 2,260,000 Yen/sqm.

There have been 3 reported re-sales in this building in 2017 with an average sale price of around 2,040,000 Yen/sqm, down 2.9% from 2016 (2,100,000 Yen/sqm), but up 1.5% from 2015 (2,010,000 Yen/sqm).

This apartment was a larger corner unit on a mid-floor. It has been the highest reported resale in this building on a price-per-square-meter basis to date. It sold for approximately 22% more than an identical apartment on a higher floor sold for in 2014 and 2% more than an identical apartment a few floors up sold for in mid-2015.

City Tower Azabu Juban (2009)
3-Bedrooms
¥1,998,000
/sqm
$1,690
/sq ft
84 7.1%

Located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,690,000 ~ 2,630,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of around 1,880,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 2,075,000 Yen/sqm.

The average sale price to date in 2017 has been around 1,920,000 Yen/sqm, up 8.8% from 2016 (1,765,000 Yen/sqm) and up 2.9% from 2015 (1,865,000 Yen/sqm).

This was a south-facing apartment on a high floor. It sold for approximately 3% more than an identical apartment a few floors down sold for 5 months ago, and 45% more than an identical apartment on a lower floor sold for in 2013.

Aoyama Park Tower (2003)
2-Bedrooms
¥1,972,000
/sqm
$1,665
/sq ft
23 0%
A 34-storey high-end apartment building located a few hundred meters from Shibuya Station. The station area is undergoing a massive redevelopment and transformation over the next 10 years.

Although there are 314 apartments in the building, only 2 were available for sale in July, with an average asking price of 2,055,000 Yen/sqm.

The average reported sale price in 2017 is currently around 1,845,000 Yen/sqm, up 9.2% from 2016 (1,690,000 Yen/sqm) and up 7.6% from 2015 (1,715,000 Yen/sqm).

This was a mid-sized apartment on a low floor. This has been the highest reported resale in the building on a price-per-square-meter basis since early 2008, and the 3rd highest since the building was completed in 2003. It sold for approximately 41% more than an identical apartment upstairs sold for in late 2010.

The Westminster Roppongi (2003)
1-Bedroom
¥1,937,000
/sqm
$1,635
/sq ft
105 3.8%
A 99-unit building located adjacent to the Roppongi Hills complex. The 14-year old former rental building was renovated and apartments were sold off individually a few years ago.

The current average asking price in this building is around 2,390,000 Yen/sqm, which is about 20% less than apartments in the neighboring Roppongi Hills Residence.

This apartment was a very spacious 1-Bedroom unit on a mid-floor. Similar apartments were priced between 1.8 ~ 2 million Yen/sqm when offered for sale by the re-developer back in 2014 and 2015.

This has been only the second publicly reported resale in this building to date, selling for 3% more than another 1-Bedroom apartment on a lower floor sold for in late 2016.

The Conoe Daikanyama (2016)
Studio
¥1,874,000
/sqm
$1,585
/sq ft
28 0%
The Conoe Daikanyama is a recently completed building in front of Daikanyama Station. Current average asking prices in this building are around 2,085,000 Yen/sqm.

This has been the only reported re-sale in this building in 2017. It was a small studio-type apartment on a mid-floor. The average resale price in 2016 was 2,040,000 Yen/sqm.

Park Court Azabujuban The Tower (2010)
2-Bedrooms
¥1,825,000
/sqm
$1,540
/sq ft
139 0%
A 36-storey high rise in the Azabu Juban area with concierge, gym, guest suite and resident lounge. Current asking prices in this building are around 1,970,000 Yen/sqm.

The average sale price to date in 2017 is around 1,850,000 Yen/sqm, up 0.5% from 2016 (1,840,000 Yen/sqm) and up 0.7% from 2015 (1,838,000 Yen/sqm).

This was a corner apartment on a mid-floor with views of Tokyo Tower and Roppongi Hills. Just before it sold it was the lowest priced apartment in the building on a price-per-square-meter basis.

Century Forest Daikanyama (2011)
2-Bedrooms
¥1,781,000
/sqm
$1,505
/sq ft
147 2.3%
A high-end, low-rise complex between Daikanyama and Shibuya Stations. When new, the average sale price was around 1,370,000 Yen/sqm. There are currently three sale listings in the 244-unit building with an average price of 2,025,000 Yen/sqm.

The average re-sale price to date in 2017 is around 1,785,000 Yen/sqm, up 6.3% from 2016 (1,680,000 Yen/sqm), but down 5.1% from 2015 (1,880,000 Yen/sqm).

This apartment sold for approximately 4.8% more than a similarly sized apartment downstairs sold for in early 2015.

Tokyo Twin Parks (2002)
2-Bedrooms
¥1,770,000
/sqm
$1,495
/sq ft
51 3.1%
Two 47-storey apartment towers containing 1,000 units. The buildings overlook Hamarikyu Park and are a short walk to both Shiodome and Shimbashi Stations. Facilities include a party room, sky lounge, gym, guest rooms and front desk.

The average asking price is currently 1,615,000 Yen/sqm. Apartments on the 15th floor and lower have an average ask of 1,365,000 Yen/sqm, while apartments on the 30th floor and higher have an average ask of 1,715,000 Yen/sqm. Apartments over 100 sqm in size have an average ask of 1,795,000 Yen/sqm.

There have been 8 reported resales in this building in 2017. The average resale price has been 1,520,000 Yen/sqm, up 13.6% from 2016 (1,338,000 Yen/sqm) and up 11.8% from 2015 (1,360,000 Yen/sqm).

This apartment was on a mid-floor with views directly over Hamarikyu Park. It sold for 2.2% more than an identical apartment upstairs sold for 5 months ago, and 18% more than it previously traded for in 2009.

Hiroo Garden Hills (1985)
2-Bedrooms
¥1,766,000
/sqm
$1,490
/sq ft
7 0%
Hiroo Garden Hills is a popular large-scale vintage apartment complex near Hiroo Station that was developed during the 1980s. Average asking prices are currently around 2,190,000 Yen/sqm in the exclusive South Hill, and around 1,600,000 Yen/sqm in the other buildings.

The average resale date in 2017 for apartments outside of South Hill has been around 1,550,000 Yen/sqm, down 3.7% from 2016 (1,610,000 Yen/sqm) but up 11.1% from 2015 (1,395,000 Yen/sqm).

This was a spacious apartment on a high floor in the Center Hill complex. It sold within a few days of being listed. This has been the second highest reported sale in the complex (outside of South Hill) on a price-per-square-meter basis since 2008. It sold for approximately 72% more than an identical apartment on a lower floor sold for in 2003 and 38% more than an identical apartment a few floors down sold for in 2010.

Despite having 1,181 apartments in the complex, only 7 were available for sale in July, representing 0.6% of the total.

The Upper Residences at Minami-Aoyama (1992)
1-Bedroom
¥1,645,000
/sqm
$1,390
/sq ft
334 1.4%
A 7-storey apartment building located in the Omotesando neighbourhood. It was originally built as a rental-only apartment building, but converted to a condominium in 2013~2014. This was a 1-Bedroom apartment on a low floor. The only current sale listing in this building is a large 3-Bedroom unit with roof terrace for 2,810,000 Yen/sqm.
Grand Suite Azabudai Hilltop Tower (2014)
1-Bedroom
¥1,638,000
/sqm
$1,385
/sq ft
56 0%
A 29-storey high-rise located near the Russian Embassy and Tokyo American Club. When pre-sales began in 2013, apartments had an average price of around 1,360,000 Yen/sqm.

This apartment sold for approximately 23% more than its price when brand-new.

There have only been 4 reported re-sales in this building since its completion in 2014. Earlier this year another 1-Bedroom apartment on a lower floor sold for 1,471,000 Yen/sqm. Several months later it was re-listed for 15% more.

The Parkhouse Harumi Towers Tiaro Residence (2016)
1-Bedroom
¥951,000
/sqm
$805
/sq ft
 78  0%
Part of a two-tower complex including the Krono Residence (2013) and Tiaro Residence (2016). Together, the two towers contain 1,744 apartments.

There were 41 apartments listed for sale in this building in July, down from 56 listings in March. The average asking price was 1,095,000 Yen/sqm.

The average sale price to date in 2017 is around 960,000 Yen/sqm, down 4.0% from 2016 (1,000,000 Yen/sqm).

This was a compact apartment on a high floor. It sold for approximately 9.5% more than its price when brand new.

Kachidoki The Tower (2016)
1-Bedroom
¥871,000
/sqm
$735
/sq ft
52 2.3%
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, 161 apartments have already appeared on the re-sale market. As at July 2017, there were 42 apartments listed for sale (down from 71 listings in May) with an average asking price of 1,100,000 Yen/sqm.

There have been 43 reported re-sales to date in 2017 with an average sale price of 1,025,000 Yen/sqm.

This apartment sold for approximately 10% more than its price when brand new.

 

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: 109.97 Yen).