Tokyo Apartment Sales in February 2018

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of February 2018:

 

BuildingSold Price
(Yen/sqm)
(USD/sq.ft)Days ListedDiscount
Park Mansion Roppongi (2008)
2-Bedrooms
¥2,376,000
/sqm
$2,080
/sq ft
650%
A low-rise luxury apartment building located across the street from Hinokicho Park and Tokyo Midtown. When sales began in 2007 the average asking price in the building was around 3,800,000 Yen/sqm, with a penthouse listed for 4,900,000 Yen/sqm.

This apartment sold for approximately 33% more than a similarly-sized apartment on a lower floor sold for in 2014.

There is currently just 1 available sale listing in this building – a lower floor unit with an asking price of 2,348,000 Yen/sqm.

Brillia Towers Meguro (2017)
3-Bedrooms
¥2,361,000
/sqm
$2,070
/sq ft
552.6%
Brillia Towers Meguro is 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.

The building was completed in December 2017. As at February 2018 there were 52 apartments listed for resale, up from 42 listings at the end of January. The average asking price was 2,475,000 Yen/sqm. Apartments over 80 sqm in size had an average asking price of 2,870,000 Yen/sqm.

This was a relatively large corner apartment on a high floor. It sold for almost 20% more than its price when brand new.

Hiroo Garden Hills (1985)
2-Bedrooms
¥2,002,000
/sqm
$1,755
/sq ft
260%
Hiroo Garden Hills is 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 15 were listed for sale as at the end of February 2018. Average asking prices are currently around 1,800,000 Yen/sqm. There have been 3 reported sales in this building to date in 2018 with an average sale price of 1,790,000 Yen/sqm.

The average sale price in 2017 was 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 was a spacious apartment on a mid-floor. It has been the most expensive reported resale in the entire complex on a price-per-square-meter basis since early 2008 and the most expensive in this particular building since 1994. It sold for approximately 106% more than an identical apartment on a low floor sold for in 2004.

Aoyama The Tower (2004)
2-Bedrooms
¥1,977,000
/sqm
$1,730
/sq ft
730%
A 23-storey luxury high-rise located near Aoyama Cemetery. The average asking price in this building is currently around 1,900,000 Yen/sqm.

This has been the most expensive reported resale in this building on a price-per-square-meter basis since 2007. It sold for approximately 15% more than an identical apartment downstairs sold for in 2006.

Shibuya Eins (2001)
3-Bedrooms
¥1,907,000
/sqm
$1,670
/sq ft
212.7%
Shibuya Eins is an 18-storey building located a 4 minute walk from Shibuya Station. Only 2 of the 164 units in the building were listed for sale as at the end of February 2018 (one was already under offer), with an average asking price of 1,725,000 Yen/sqm.

This was a large apartment on a mid-floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date

Grand Suite Azabudai Hilltop Tower (2014)
1-Bedroom
¥1,621,000
/sqm
$1,420
/sq ft
1261.5%
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. As at the end of February 2018 there was just 1 sale listing in the 166-unit building – a small unit on a low floor.

This apartment sold for approximately 10% more than it was last reported to have sold for less than 12 months ago.

Diana Garden Hiroo (2006)
1-Bedroom
¥1,418,000
/sqm
$1,240
/sq ft
81.0%
A 10-storey building located just 1 minute’s walk from Hiroo Station. Although there are just over 100 apartments in the building, only 1 was listed for sale as at the end of February 2018, with an asking price of 2,325,000 Yen/sqmThe average sale price in 2017 was 1,480,000 Yen/sqm.

This apartment was a spacious 1-Bedroom unit on a low floor. It sold for approximately 32% more than an identical apartment upstairs sold for in 2009 and has been the 3rd most expensive reported resale in this building on a price-per-square-meter basis to date.

Deux Tours Canal & Spa (2015)
2-Bedrooms
¥1,115,000
/sqm
$975
/sq ft
5630%
There have been 100 resale listings in this building since it was completed in late 2015. Over the past 12 months there have been 11 reported resales with an average sale price of 1,175,000 Yen/sqm.

There were 51 apartments listed for sale in the building as at the end of February 2018. The average asking price was 1,280,000 Yen/sqm. Several of the listings have been on the market since 2016.

This was a south-facing apartment on a mid-floor. It sold for 6% less than an identical apartment a few floors down sold for five months ago and for almost the same price as when it was brand new.

Kachidoki The Tower (2016)
2-Bedrooms
¥1,057,000
/sqm
$925
/sq ft
1821.0%
A 53-story, 1,420-unit apartment building located on a man-made island in Tokyo bay. As at the end of February 2018, there were 33 apartments listed for sale (down from 35 at the end of December 2017) with an average asking price of 1,145,000 Yen/sqm. The average resale price in 2017 was 1,035,000 Yen/sqm.

This was a north-facing apartment on a mid-floor. It sold for approximately 20% more than its price when new.

Pair City Renaissance Takanawa (1980)
3-Bedrooms
¥1,056,000
/sqm
$925
/sq ft
1180%
This is a large-scale vintage apartment complex located near Shinagawa Station. Facilities include a tennis court, Japanese-style garden and 24hr caretaker. The average resale price over the past 2 years has been around 945,000 Yen/sqm, up around 25% from 2012 and 2013.

This was a very large apartment on a low floor and in fairly original condition. This has been the most expensive reported resale in this building on a price-per-square-meter basis since 1995.

 

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: 106.11 Yen).