The following is a selection of apartments that were sold in central Tokyo during the month of August 2017:
|(USD/sq ft)||Days Listed||Discount|
|Roppongi Hills Residence (2003)|
|Located on a mid-floor in the famed Roppongi Hills complex. The average asking price in this building is currently around 3,000,000 Yen/sqm, with four apartments currently available for sale.|
This apartment sold for approximately 44% more than a similar apartment on a lower floor sold for in 2013 and 39% more than a similar apartment on a higher floor sold for in 2005. The apartment was leased to a tenant and sold with a gross yield of approximately 3.3%.
|Park Court Roppongi Hilltop (2012)|
|A 27-storey, 270-unit high-rise located near Roppongi Itchome Station and Izumi Garden Tower. When apartments first went on sale back in 2012, the average sale price was around 1,400,000 Yen/sqm.|
There are just two apartments currently listed for sale in this building with an average asking price of 2,195,000 Yen/sqm. Both are compact-style units rented to tenants and suitable for investors only, with gross yields of around 3.1~ 3.2%.
This apartment sold for approximately 7.8% more than a similarly-sized apartment sold for in early 2016. The average resale price in 2016 was 2,180,000 Yen/sqm, up 3.1% from 2015 (2,100,000 Yen/sqm) and up 20.4% from 2014 (1,810,000 Yen/sqm).
|Saion Sakurazaka (2009)|
|A 26-storey high-rise located near the US Embassy in the Akasaka/Toranomon district. |
The average price in this building when new was approximately 1,550,000 Yen/sqm. Current asking prices range from 1,845,000 ~ 1,980,000 Yen/sqm.
This was a large corner unit on a high floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. There are two identical apartments currently listed for sale on lower floors for about 7% less. The average resale price in 2017 has been around 1,690,000 Yen/sqm, up 11% from 2016 (1,523,000 Yen/sqm).
|Nakameguro Atlas Tower (2009)|
|A 45-storey high-rise tower located adjacent to Nakameguro Station in Meguro-ku. |
Despite having 495 apartments in the building, just 3 were for sale as at the end of August 2017, with 2 already under offer. The average asking price is currently 1,850,000 Yen/sqm. In 2016, the average resale price was 1,735,000 Yen/sqm, up 5.8% from 2015 (1,640,000 Yen/sqm).
This was a corner apartment on a high floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for approximately 12% more than another apartment on the same floor sold for in late 2014.
|Century Forest Daikanyama (2011)|
|A high-end, low-rise complex located between Daikanyama and Shibuya Stations. When new, the average sale price was around 1,370,000 Yen/sqm.|
There are currently just 2 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 1,825,000 Yen/sqm, up 8.6% from 2016 (1,680,000 Yen/sqm), but down 2.9% from 2015 (1,880,000 Yen/sqm).
This was a corner apartment on a high floor. It went under contract within days of listing and has been the second highest reported resale in the building to date on a price-per-square-meter basis.
|Park Court Akasaka The Tower (2009)|
|A luxury high-rise in Akasaka. The current average asking price in this building is around 1,770,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of 1,745,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 1,840,000 Yen/sqm (approx. 5% more than lower floors). |
The average resale price to date in 2017 is around 1,600,000 Yen/sqm, up 1.6% from 2016 (1,575,000 Yen/sqm) but down 6% from 2015 (1,703,000 Yen/sqm).
This has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for approximately 9% more than an identical apartment on a higher floor sold for in 2014.
|Branz Yonbancho (2014)|
|A 15-storey building in Chiyoda’s upscale Bancho district just west of the Imperial Palace.|
When new, apartments were priced around 1,500,000 Yen/sqm. All apartments had sold out off-the-plan by September 2013, five months prior to completion of the building.
The average resale price to date in 2017 is around 1,815,000 Yen/sqm, up 1.7% from 2016 (1,785,000 Yen/sqm). This apartment sold for approximately 4.5% more than an identical apartment a few floors up sold for last year.
|Park Court Azabujuban The Tower (2010)|
|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 approximately 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 apartment was on a mid-floor with views of Tokyo Tower. It sold for approximately 50% more than a similarly-sized apartment one floor up sold for in 2013.
Despite having 440 apartments in the building, there were only 10 units available for sale as at the end of August 2017.
|Jingumae City Tower (2002)|
|A glass and concrete designer-style building located just up the street from the famed Harajuku district. |
This was a maisonette-style penthouse apartment on the top two floors of the building with its own private courtyard and roof terrace.
The current average asking price for apartments on lower floors is around 1,575,000 Yen/sqm. The average resale price in this building in 2016 and 2017 has been around 1,475,000 Yen/sqm.
|Toranomon Towers Residence (2006)|
|A 41-storey high-rise located in the Toranomon district. This neighbourhood has been undergoing a major transformation with several large-scale projects underway. |
This was a 1-Bedroom corner unit on a mid-floor. It sold for approximately 30% more than an identical apartment a few floors up sold for in 2012.
The current asking price in this building ranges from 1,770,000 ~ 2,250,000 Yen/sqm. The average resale price to date in 2017 is around 1,755,000 Yen/sqm, up 10.7% from 2016 (1,585,000 Yen/sqm) and up 0.9% from 2015 (1,740,000 Yen/sqm).
|Atlas Tower Roppongi (2010)|
|A 29-storey high-rise just minutes from Tokyo Midtown and Roppongi Hills. When new, apartments were priced from 1,500,000 ~ 2,200,000 Yen/sqm. |
This was a corner apartment on a low-floor. It sold for approximately 36% more than it previously traded for in early 2010.
In recent years, apartments on higher floors have sold for around 2,000,000 Yen/sqm.
|Jingumae 5 Chome Blanche (2002)|
|A low-rise high-end apartment building in the fashionable Omotesando district, and also walking distance from the heart of Shibuya. Apartment availability in the Jingumae 5 Chome address is extremely low, while demand remains high.|
This was a 1-bedroom apartment on a low floor. It has been the second most expensive resale in this building on a price-per-square-meter basis to date (following a previous record sale in 2016).
|Tokyo Twin Parks (2002)|
|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 1,575,000 Yen/sqm. Apartments on the 15th floor and lower have an average ask of 1,325,000 Yen/sqm, while apartments on the 30th floor and higher have an average ask of 1,730,000 Yen/sqm. Apartments over 100 sqm in size have an average ask of 1,900,000 Yen/sqm.
The average resale price to date in 2017 has been 1,470,000 Yen/sqm, up 9.9% from 2016 (1,338,000 Yen/sqm) and up 8.1% from 2015 (1,360,000 Yen/sqm).
This was a spacious corner apartment on a mid-floor with views towards Tokyo Tower and Mt. Fuji. It sold for approximately 55% more than an identical apartment one floor below sold for in 2012.
|The Parkhouse Harumi Towers Tiaro Residence (2016)|
|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 35 apartments listed for sale in this building in August, down from 41 listings in July. The average asking price was 1,106,000 Yen/sqm.
The average resale price to date in 2017 is around 960,000 Yen/sqm, down 4.0% from 2016 (1,000,000 Yen/sqm).
This was a corner apartment on a mid-floor. It sold for approximately 15% less than a similar apartment a few floors up sold for 12 months ago, but 14.8% more than its price when brand new.
|The Harumi Residence (2009)|
|The Harumi Residence is a 20-storey apartment building located on the man-made island of Harumi in Tokyo Bay and close to the future Athlete’s Village for the 2020 Summer Olympics. |
This was a corner apartment on a low-to-mid floor.
The current average asking price in this building is around 800,000 Yen/sqm. The average resale price to date in 2017 has been around 780,000 Yen/sqm, down 1.9% from 2016 (795,000 Yen/sqm) and down 3.1% from 2015 (805,000 Yen/sqm). Average resale prices reached a low of around 645,000 Yen/sqm in 2012.
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: 110.27 Yen).