Tokyo Apartment Sales in October 2017

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of October 2017:

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
Wellith Ginza 2 Chome (2015)
3-Bedroom
¥2,431,000
/sqm
$1,985
/sq ft
330 7.1%
A 14-storey condominium located 600 meters from the Ginza 4 Chome Crossing. When new, apartments had an average price of around 1,920,000 Yen/sqm. All new apartments were sold by the developer by July 2015, five months after completion.

This apartment may have sold for approximately 20% more than its price when brand new.

Brillia Towers Meguro (2017)
1-Bedroom
¥2,343,000
/sqm
$1,915
/sq ft
78 2.7%
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. As many as 24 apartments have already appeared for resale in this building with average asking prices of around 2,270,000 Yen/sqm.

This was a corner apartment on a mid-floor. It sold for 20% more than an identical apartment on a lower floor sold for in the same month.

City Tower Azabu Juban (2009)
3-Bedrooms
¥2,094,000
/sqm
$1,710
/sq ft
83 0%
Located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,480,000 ~ 2,500,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of around 1,775,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 2,170,000 Yen/sqm.

The average sale price to date in 2017 has been around 1,870,000 Yen/sqm, up 5.9% from 2016 (1,765,000 Yen/sqm) and up 0.3% from 2015 (1,865,000 Yen/sqm).

This has been the second most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for approximately 7% more than an identical apartment on a higher floor sold for in early 2016.

The Conoe Daikanyama (2016)
2-Bedrooms
¥2,076,000
/sqm
$1,695
/sq ft
38 0.7%
The Conoe Daikanyama is a recently completed building in front of Daikanyama Station. Current average asking prices in this building are around 2,150,000 Yen/sqm.

There have been 3 reported re-sales in this building to date in 2017, with an average sale price of 1,895,000 Yen/sqm. There are currently 6 apartments advertised for sale with an average asking price of 2,000,000 Yen/sqm.

This apartment may have sold for somewhere between 8 ~ 10% more than its price when brand new.

Park Court Akasaka Sakurazaka (2016)
2-Bedrooms
¥2,014,000
/sqm
$1,645
/sq ft
489 3.1%
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.

This was a compact apartment on a low floor. It sold for approximately 4% more than its price when brand new.

The Roppongi Tokyo (2011)
1-Bedroom
¥1,948,000
/sqm
$1,590
/sq ft
108 0%
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 1,965,000 ~ 2,700,000 Yen/sqm, with an average price of around 2,350,000 Yen/sqm.

There have been 6 reported re-sales in this building in 2017 with an average sale price of around 1,950,000 Yen/sqm, down 7.1% from 2016 (2,100,000 Yen/sqm), and down 3% from 2015 (2,010,000 Yen/sqm).

This was a compact 1-bedroom apartment on a mid-floor. It sold for approximately 7.5% more than an identical apartment downstairs sold for in September, and 71% more than an identical apartment a few floors down sold for in 2012.

Park Court Akasaka The Tower (2009)
1-Bedroom
¥1,851,000
/sqm
$1,510
/sq ft
49 0%
A luxury high-rise in Akasaka. The current average asking price in this building is around 1,755,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of 1,660,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 1,930,000 Yen/sqm (approx. 16% more than lower floors).

There were 13 apartments listed for sale as at October 2017, representing 2.5% of the total (518 apartments). The average resale price to date in 2017 is around 1,640,000 Yen/sqm, up 4.1% from 2016 (1,575,000 Yen/sqm) but down 3.7% from 2015 (1,703,000 Yen/sqm). There have been 20 reported resales to date in 2017.

This has been the third expensive reported resale in this building on a price-per-square-meter basis to date (2 other price records were set in both August and September of this year).

Hiroo Garden Hills (1984)
3-Bedroom
¥1,682,000
/sqm
$1,375
/sq ft
112 0%
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 October 2017, representing 0.6% of the total. Average asking prices are currently around 1,950,000 Yen/sqm. The average re-sale price to date in 2017 has been 1,530,000 Yen/sqm, down 3.2% from 2016 (1,580,000 Yen/sqm), but up 4.8% from 2015 (1,460,000 Yen/sqm).

This apartment sold for approximately 31% more than it previously traded for in 2010.

The Parkhouse Gran Sanbancho (2014)
2-Bedroom
¥1,645,000
/sqm
$1,345
/sq ft
26 0%
A luxurious 148-unit 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. There are currently just 2 apartments listed for sale in the building with an average asking price of around 1,920,000 Yen/sqm.

This apartment sold for approximately 5% more than an identical apartment a few floors up sold for a few months ago.

Minamiaoyama Terrace Tokiwamatsu Forest (2006)
3-Bedrooms
¥1,608,000
/sqm
$1,315
/sq ft
142 4.3%
A large-scale complex of 196 apartments located a 10 minute walk from Omotesando Station. There was only 1 apartment available for sale as at October 2017.

There have been 4 reported resales to date in 2017 with an average sale price of around 1,583,000 Yen/sqm, up 10.9% from 2016 (1,428,000 Yen/sqm) and up 22.7% from 2015 (1,290,000 Yen/sqm).

This was a spacious apartment on a high floor. It sold for approximately 22% more than a similarly sized apartment on the same floor sold for in late 2008. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

Deux Tours Canal & Spa (2015)
3-Bedroom
¥1,215,000
/sqm
$990
/sq ft
378 2.3%
A complex of two 52-storey residential towers containing 1,450 units on a man-made island in Tokyo Bay. The building was completed in late 2015 with apartments delivered to buyers from March 2016. When new, apartments had an average price of around 1,100,000 Yen/sqm.

There are currently 38 apartments advertised for resale with an average asking price of around 1,305,000 Yen/sqm.

There have been 8 reported resales to date in 2017 with an average sale price of around 1,185,000 Yen/sqm, down 0.4% from 2016 (1,190,000 Yen/sqm).

This apartment sold for approximately 10% more than similar units were priced at when sold off-the-plan.

Kachidoki The Tower (2016)
3-Bedrooms
¥1,060,000
/sqm
$865
/sq ft
 65 0.8%
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, 181 apartments have already appeared on the re-sale market, representing almost 13% of the building. As at the end of October 2017, there were 39 apartments listed for sale (down from 48 listings at the end of the previous month) with an average asking price of 1,100,000 Yen/sqm.

There have been 56 reported re-sales to date in 2017 with an average sale price of 1,030,000 Yen/sqm.

This apartment sold for approximately 3.5% less than an identical apartment a few floors down sold for 8 months ago.

The Parkhouse Harumi Towers Krono Residence (2013)
3-Bedrooms
¥1,053,000
/sqm
$860
/sq ft
66 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 23 apartments listed for sale in this building in October, down from 24 listings in March. The average asking price was 1,040,000 Yen/sqm.

The average resale price to date in 2017 is around 975,000 Yen/sqm, down 1.4% from 2016 (989,000 Yen/sqm) but up 0.5% from 2015 (970,000 Yen/sqm). When new, apartments were priced at around 770,000 Yen/sqm by the developer.

This was a compact apartment on a mid-floor. It sold for approximately 5.7% less than an identical apartment a few floors upstairs sold for in early 2016.

The Parkhouse Harumi Towers Tiaro Residence (2016)
2-Bedrooms
¥925,000
/sqm
$755
/sq ft
222 5.6%
Part of a two-tower complex including the Krono Residence (2013) and Tiaro Residence (2016). There were 38 apartments listed for sale in this building in October, up from 36 listings in September. The average asking price was 1,080,000 Yen/sqm.

The average resale price to date in 2017 is around 977,000 Yen/sqm, down 2.3% from 2016 (1,000,000 Yen/sqm).

This was a south-facing apartment on a high-floor with canal views. It sold for approximately 18% less than an identical apartment a few floors up sold for in mid-2016.

 

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: 113.85 Yen).