Tokyo Apartment Sales in December 2017

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

Building Sold Price
(Yen/sqm)
(USD/sq ft) Days Listed Discount
The Parkhouse Gran Minami Aoyama (2016)
1-Bedroom
¥2,608,000
/sqm
$2,145
/sq ft
358 1.8%
A recently completed luxury low-rise apartment building in the heart of Omotesando. Off-the-plan sales began in June 2015 and all apartments sold out on the first day of sales, with an average of 9.6 buyers per apartment. The average price when new was around 2,300,000 Yen/sqm.

Several apartments have appeared on the resale market since the building was delivered to buyers from November 2016. There is currently just 1 apartment available for sale in this building with an asking price of 2,586,000 Yen/sqm.

There were five reported resales in this building in 2017 with an average sale price of around 2,615,000 Yen/sqm. This apartment was on a higher floor with private rooftop terrace. It sold for approximately 4.7% more than its price when sold off-the-plan in 2015.

City Tower Azabu Juban (2009)
2-Bedrooms
¥2,345,000
/sqm
$1,930
/sq ft
63 6.3%
Located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,870,000 ~ 2,285,000 Yen/sqm. Despite having 502 apartments in the building there were only 6 units available for sale as at the end of December 2017, representing just 1.2% of the total.

The average sale price in 2017 was 1,905,000 Yen/sqm, up 7.9% from 2016 (1,765,000 yen/sqm) and up 2.1% from 2015 (1,865,000 Yen/sqm).

This was a penthouse apartment with roof terrace. It has been the most expensive reported resale in this building to date on a price-per-square-meter basis.

Akasaka Tower Residence (2008)
3-Bedrooms
¥2,265,000
/sqm
$1,860
/sq ft
139 3.9%
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 5 were available for sale as at the end of December 2017, representing less than 1% of the total. 3 of the 5 were rented to tenants and only suitable for investors.

The current asking price in this building is around 2,060,000 Yen/sqm. The average resale price in 2017 was 1,915,000 Yen/sqm, up 11.3% from 2016 (1,720,000 Yen/sqm) but down 7.0% from 2015 (2,060,000 Yen/sqm).

This was a spacious apartment on a high floor. It sold for approximately 63% more than a similar apartment one floor down sold for in 2012 and has ben the 3rd most expensive reported resale in this building to date on a price-per-square-meter basis.

The Roppongi Tokyo (2011)
2-Bedrooms
¥2,096,000
/sqm
$1,725
/sq ft
26 1.2%
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 1,900,000 ~ 3,000,000 Yen/sqm, with an average price of around 2,340,000 Yen/sqm.

There have been 7 reported re-sales in this building in 2017 with an average sale price of around 1,975,000 Yen/sqm, down 6.0% from 2016 (2,100,000 Yen/sqm), and down 1.7% from 2015 (2,010,000 Yen/sqm).

This was a 2-Bedroom on a mid-floor. It sold for approximately 43% more than a similar apartment on the same floor sold for in 2013.

The Parkhouse Gran Sanbancho (2016)
3-Bedrooms
¥1,982,000
/sqm
$1,630
/sq ft
4 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 no sale listings in this building.

There were 5 reported resales in this building in 2017 with an average sale price of 1,785,000 Yen/sqm.

This apartment sold for approximately 11% more than it previously traded for earlier in the year.

Park Court Azabujuban The Tower (2010)
1-Bedroom
¥1,911,000
/sqm
$1,570
/sq ft
28 2.4%
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 1,980,000 Yen/sqm.

The average sale price in 2017 was 1,795,000 Yen/sqm, down 2.4% from 2016 (1,840,000 yen/sqm) and down 2.3% from 2015 (1,838,000 yen/sqm).

Wellith Tower Atago Toranomon (2014)
2-Bedrooms
¥1,726,000
/sqm
$1,420
/sq ft
162 4.2%
A 22-storey apartment building located 300 meters from Tokyo Tower. When new, apartments were priced at around 1,170,000 Yen/sqm.

There were only 2 sale listings in the building as at December 2017, one of which is tenanted  The average asking price is around 1,835,000 Yen/sqm.

The average sale price in 2017 was around 1,745,000 Yen/sqm, an increase of 49% since new. This apartment sold for approximately 25% more than its price when brand new.

Hiroo Garden Hills (1983)
3-Bedrooms
¥1,686,000
/sqm
$1,385
/sq ft
32 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 11 were listed for sale as at the end of December 2017, representing less than 1% of the total. Average asking prices are currently around 1,885,000 Yen/sqm. The average sale price in 2017 has been around 1,545,000 Yen/sqm, down 2.2% from 2016 (1,580,000 Yen/sqm), but up 5.8% from 2015 (1,460,000 Yen/sqm).

This has been the most expensive reported resale on a price-per-square-meter basis in the East Hill since 1993. The apartment sold for almost 60% more than a similar one on a lower floor sold for in 2010.

Grand Suite Azabudai Hilltop Tower (2014)
1-Bedroom
¥1,643,000
/sqm
$1,350
/sq ft
561 6.0%
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 25% more than its price when brand-new.

The average sale price in this building in 2017 was 1,585,000 Yen/sqm, down 14.7% from 2015 (1,815,000 Yen/sqm). There are currently 2 apartments available for sale with an average asking price of 1,725,000 Yen/sqm.

Premist Kojimachi (2015)
2-Bedrooms
¥1,499,000
/sqm
$1,230
/sq ft
483 2.2%

A 16-storey apartment building located along the street from Sophia University’s Yotsuya Campus. When off-the-plan sales began in 2014, the average price for a new apartment was around 1,400,000 Yen/sqm.

This apartment sold for approximately 7.1% more than its price when new.

Of the 42 units in the building, there is currently just 1 available for sale with an asking price of 1,573,000 Yen/sqm.

Kachidoki The Tower (2016)
2-Bedrooms
¥1,097,000
/sqm
$900
/sq ft
 6 0%
A 53-story, 1,420-unit apartment building located on a man-made island in Tokyo bay. Construction was completed in December 2016. As at the end of December 2017, there were 35 apartments listed for re-sale (down from 40 apartments as at the end of the previous month) with an average asking price of 1,120,000 Yen/sqm.

There were 62 reported re-sales in 2017 with an average sale price of 1,035,000 Yen/sqm.

This apartment sold for approximately 6.5% more than its price when new.

Open Residencia Omotesando est (2014)
1-Bedroom
¥1,086,000
/sqm
$890
/sq ft
9 0%
A 6-storey, 58-unit apartment building located a 12 minute walk from Omotesando Station and 13 minutes from Roppongi Station. When new, the average apartment price was 855,000 Yen/sqm.

The average resale price in 2017 has been around 1,110,000 Yen/sqm, down 2.6% from 2016 (1,140,000 Yen/sqm). This has been the 2nd lowest reported resale in this building on a price-per-square-meter basis to date.

The Parkhouse Harumi Towers Tiaro Residence (2016)
1-Bedroom
¥901,000
/sqm
$740
/sq ft
140 0%
Part of a two-tower complex including the Krono Residence (2013) and Tiaro Residence (2016).

There were 29 apartments listed for sale in this building as at the end of December, down from 34 listings in November. The average asking price was 1,113,000 Yen/sqm.

The average resale price in 2017 was around 970,000 Yen/sqm, down 3% from 2016 (1,000,000 Yen/sqm).

This apartment sold for approximately 6.4% less than a similar apartment a few floors down sold for in late 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: 113.08 Yen).