The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2017:
|(USD/sq ft)||Days Listed||Discount|
|Premist Minami Aoyama (2014)|
|A luxury residential building located in the trendy Omotesando area. When new, apartments were priced from 91 ~ 500 million Yen, with an average price of around 1,735,000 Yen/sqm. All new apartments sold out 3 months prior to completion of the building. Current asking price are around 3,000,000 Yen/sqm, up 43% from 2016 (2,100,000 Yen/sqm).|
This was a corner apartment on a low floor. It sold at full ask.
|Park Court Akasaka Sakurazaka (2016)|
|A 13-storey building located right behind Ark Hills and just down the street from the US Ambassador’s residence and Hotel Okura. |
When new, apartments were priced from 118 ~ 355 million Yen, with an average price of around 2,140,000 Yen/sqm. All apartments had sold off-the-plan 8 months prior to completion of the building.
Several re-sales have appeared on the market since then, with an average asking price of 2,700,000 Yen/sqm.
This was a corner apartment on a high floor. It sold for approximately 6% more than its price when brand new.
|Brillia Towers Meguro (2017)|
|A multi-tower high-rise office and residential complex located on the eastern side of Meguro Station. |
When new, apartments on floors 30 and above had an average price of 2,435,000 Yen/sqm, while lower floors were priced around 1,700,000 ~ 2,010,000 Yen/sqm. Sales were held via a lottery system, with some of the popular apartments receiving as many as 40 purchase applications.
Completion is scheduled for December 2017. Several apartments have already appeared for resale in this building with average asking prices of around 2,100,000 Yen/sqm.
This was a compact corner apartment on a mid-floor. It sold at full ask at a price that may have been slightly higher than its price when purchased from the developer.
|Park Mansion Akasaka Hikawazaka (2014)|
|A luxury 13-storey apartment building overlooking the greenery of the US Embassy housing compound. |
Current asking prices range from 2,470,000 ~ 2,975,000 Yen/sqm. When new, apartments had an average price of around 2,190,000 Yen/sqm. All new apartments had sold out off-the-plan by February 2014 – 7 months before construction was completed.
|Akasaka Tower Residence (2008)|
|A 45-storey luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites. Despite having 521 apartments in the building, only 6 were available for sale as at the end of September 2017, representing just 1% of the total. 4 of the 6 were rented to tenants and only suitable for investor-buyers. |
This apartment was on a low floor and sold with a tenant in place with a gross yield was 3.6%. It sold for approximately 60% more than a similarly-sized apartment on a higher floor sold for in early 2009, and has been the second most expensive reported sale of a 1-Bedroom apartment in this building on a price-per-square-meter basis to date.
The current asking price in this building is around 2,200,000 Yen/sqm. The average resale price to date in 2017 has been around 1,882,000 Yen/sqm, up 9.4% from 2016 (1,720,000 Yen/sqm), but down 8.6% from 2015 (2,060,000 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 2 were for sale as at the end of September 2017, with 1 of those already under offer. The average resale price to date in 2017 has been around 1,850,000 Yen/sqm, up 6.6% from 2016 (1,735,000 Yen/sqm) and up 12.8% from 2015 (1,640,000 Yen/sqm).
This was a compact apartment on a high floor. It sold for 7% more than a similar apartment downstairs sold for in late 2016 and has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.
|Toranomon Towers Residence (2014)|
|A 41-storey high-rise located in the Toranomon district. |
Despite having 267 apartments in the building, just 4 were for sale as at the end of September 2017, with 2 of those rented to tenants. The current average asking price ranges from 1,770,000 ~ 2,260,000 Yen/sqm.
The average sale price to date in 2017 has been around 1,793,000 Yen/sqm, up 13.1% from 2016 (1,585,000 Yen/sqm) and up 3.2% from 2015 (1,738,000 Yen/sqm).
This apartment sold for approximately 3.1% more than an identical apartment a few floors down sold for earlier this year, and 57% more than an identical apartment on a lower floor sold for in early 2013.
|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 1,930,000 Yen/sqm.|
The average sale price to date in 2017 is approximately 1,855,000 Yen/sqm, up 0.8% from 2016 (1,840,000 Yen/sqm) and up 0.9% from 2015 (1,838,000 Yen/sqm).
This apartment was on a mid-floor with views of Tokyo Tower. It sold for 0.5% more than the apartment downstairs sold for in 2015.
|The Roppongi Tokyo (2011)|
|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 1,950,000 ~ 2,650,000 Yen/sqm, with an average price of around 2,285,000 Yen/sqm. |
There have been 5 reported re-sales in this building in 2017 with an average sale price of around 1,960,000 Yen/sqm, down 6.7% from 2016 (2,100,000 Yen/sqm), and down 2.5% from 2015 (2,010,000 Yen/sqm).
This was a compact 1-bedroom apartment on a mid-floor. It sold for approximately 10% less than an identical apartment a few floors away sold for in mid-2015.
|Wellith Roppongi (2014)|
|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 1,560,000 Yen/sqm. |
The average resale price to date in 2017 is around 1,448,000 Yen/sqm, down 15.8% from 2016 (1,719,000 Yen/sqm) but up 2.1% from 2015 (1,418,000 Yen/sqm).
This apartment was on a high floor and sold for approximately 9.5% less than another apartment on the same floor sold for in early 2016.
|Hiroo Garden Hills (1985)|
|A popular large-scale vintage apartment complex near Hiroo Station that was developed during the 1980s.|
Although there are 1,181 apartments in the complex, only 7 were listed for sale as at the end of September 2017, representing 0.6% of the total. Average asking prices are currently around 1,900,000 Yen/sqm, with apartments in the West Hill priced at around 1,580,000 Yen/sqm. The average re-sale price to date in 2017 has been 1,480,000 Yen/sqm, down 3.3% from 2016.
This apartment sold for 2% more than an identical apartment upstairs sold for two months earlier.
|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 1,350,000 Yen/sqm, while apartments on the 30th floor and higher have an average ask of 1,810,000 Yen/sqm. Apartments over 100 sqm in size have an average ask of 2,010,000 Yen/sqm.
The average resale price to date in 2017 has been 1,460,000 Yen/sqm, up 9.1% from 2016 (1,338,000 Yen/sqm) and up 7.4% from 2015 (1,360,000 Yen/sqm).
This was a studio apartment on a mid-floor. It sold for 39% more than an identical apartment upstairs sold for in 2013.
|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 36 apartments listed for sale in this building in September, up from 35 listings in August. The average asking price was 1,075,000 Yen/sqm.
The average resale price to date in 2017 is around 975,000 Yen/sqm, down 2.5% from 2016 (1,000,000 Yen/sqm).
This was a corner apartment on a high-floor. It sold for approximately 12% more than its off-the-plan price in 2014.
|Kachidoki The Tower (2016)|
|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, 170 apartments have already appeared on the re-sale market, representing almost 12% of the building. As at the end of September 2017, there were 48 apartments listed for sale (up from 42 listings in July) with an average asking price of 1,100,000 Yen/sqm.|
There have been 50 reported re-sales to date in 2017 with an average sale price of 1,030,000 Yen/sqm.
This apartment sold for approximately 29% more than its off-the-plan price in 2014.
|Skyz Tower & Garden (2014)|
|A 44-storey high-rise containing 1,110 apartments on a man-made island in Tokyo Bay. The island is the site of the planned temporary relocation of the Tsukiji Fish market, pending final approval.|
When sales first began in mid-2013, apartments were priced between 700,000 ~ 850,000 Yen/sqm, depending on views.
The average resale price to date in 2017 is around 922,000 Yen/sqm, down 3.6% from 2016 (956,000 Yen/sqm) and down 2.2% from 2015 (943,000 Yen/sqm).
This apartment sold for 8.2% less than an identical apartment several floors down sold for in early 2016, but 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: 112.67 Yen).