Bidding restarted for Sengaku-ji Station high-rise apartment tower

A 160m tall apartment tower is planned for a site located above Sengaku-ji Station in Minato-ku, Tokyo. The project covers a 13,000 sqm site located on the eastern side of the Daiichi-Keihin Road, with the Yamanote train tracks running along the western side. This is reclaimed land that was once part of Tokyo Bay.

In February it was announced that a joint venture between Kajima Corporation, Tokyu Land and Keikyu Corporation had successfully bid on the development. On April 4, the Tokyo Metropolitan Government announced that their bid was disqualified after charges were filed against an executive from Kajima Corporation for allegedly colluding on a bid for the new high-speed maglev train. 

53-storey condominium tower for Hiroshima

A 53-storey, 178m tall condominium is planned for downtown Hiroshima with completion scheduled for April 2020. This will be the tallest condominium based on total floor count to have been built across the Chugoku, Shikoku and Kyushu region since 1994.

‘hitoto Hiroshima The Tower’ is a 665-unit high-rise with 2 ~ 4 Bedroom apartments ranging in size from 55 ~ 143 sqm (592 ~ 1,539 sq.ft). A 80 sqm apartment on the 18th floor is expected to be priced in the 50 million Yen range (approx. 470,000 USD). Sales are scheduled to begin in mid-April 2018.

New apartments for sale in Tokyo in 2018

Let’s take a look at some of the new condominiums that will be completed in central Tokyo this year.

JANUARY


GRAND HILLS MOTOAZABU


Size: 75 ~ 156 sqm (816 ~ 1,681 sq.ft)
Pricing: 175 ~ 850 million Yen

Located in a hilltop position atop the Motoazabu district The 5-storey building has 32 spaciously-sized apartments and is 300 meters from the Azabu Juban restaurant street and 800 meters from Roppongi Hills. Prices range from 2,300,000 ~ 5,500,000 Yen/sqm.

New apartment prices in Greater Tokyo up 7.8% in February

According to the Real Estate Economic Institute, 2,490 brand new apartments were released for sale across greater Tokyo in February, up 28.7% from the previous month and up 7.8% from last year. The average sale price was 61,280,000 Yen, up 5.8% from last year. The average price per square meter was 889,000 Yen, up 4.3% from last year.

The contract ratio was 65.0%, down 3.4 points from last year and down 0.2 points from the previous month.

Luxury hotel and condominium planned for Ebisu

Nomura Real Estate Development is planning a mixed-use hotel and condominium complex for a 4,000 sqm block of land near Ebisu Station in central Tokyo. Mixed-use hotel / apartment projects are quite uncommon in Japan, with one of the few examples being Mori Building’s Toranomon Hills tower in Minato ward.

Nomura acquired the site in March 2017 for 10.5 billion Yen through a public bidding process. It was previously a government-owned housing complex for civil servants. The government required the buyer to build both apartments and accommodation facilities as a condition of the sale.

Construction starts on Omotesando public housing redevelopment

Construction on the Kita Aoyama 3 Chome District Project began on March 1. This is the redevelopment of the former Aoyama Kitamachi Apaato public housing complex located just behind Omotesando Station.

The redevelopment is being carried out under a joint venture between Tokyo Tatemono, Mitsui Fudosan, Mitsui Fudosan Residential and Kajima Corporation. The exterior has been designed by Kengo Kuma and Associates – the same architect as the nearby Olympic Stadium which is currently under construction.

40-storey apartment tower planned for Shirokane

The Shirokane 1 Chome West Central District Redevelopment Committee announced plans for two 40-storey high-rise apartment buildings. The development site is located on the western side of Shirokane Aer City, which includes the 43-storey, 134m tall Shirokane Tower apartment building.

The redevelopment will include a 140m tall, 40-storey residential building with 900 apartments and a 20m tall factory building. A town planning decision is expected later this year. Construction could start in 2021 with completion by 2025. The total project cost is estimated at 70 billion Yen (approx. 640 million USD).

Construction starts on Aoyama Bell Commons redevelopment

Construction has started on a 20-storey commercial building on the site of the former Aoyama Bell Commons building in the Omotesando / Gaienmae area in Tokyo. Completion is due by April 2020.

The 90m tall Kita Aoyama 2 Chome Project will include retail on the first two floors, a hotel on floors 3, 4 and floors 16 through 20, and office and co-working space on floors 5 through 15. The total floor area will be 22,910 sqm, approximatley 50% larger than Aoyama Bell Commons, while the new building will be almost twice as tall.

Instant sellout in The Tower Yokohama Kitanaka

All 730 apartments offered in the first round of sales for The Tower Yokohama Kitanaka have been sold. This was the highest number of apartments to have ever been released for sale in a building in Yokohama city in history. The 58-storey, 1,176-unit high-rise is also the largest building based on apartment-count to be built in the city since 1993.

Apartments were priced from 45 ~ 800 million Yen, with an average price of 1,200,000 Yen/sqm. The 212 sqm, 800 million Yen apartment has been the most expensive new apartment to have ever been sold in Yokohama.

Tokyu expanding development of luxury condominiums in Tokyo

To cater to growing demand, Tokyu Land is expanding the development of 100 million Yen+ condominiums in central Tokyo’s six wards. They currently have four high-end projects under development in Tokyo and have increased their sales staff by 20%. Their target buyers are wealthy seniors and dual-income households.

Two of their luxury projects include Branz Roppongi The Residence (Minato-ku) and Branz Nagatacho (Chiyoda-ku). Branz Roppongi The Residence is a 51-unit, 8-storey building located 200 meters from Tokyo Midtown. Completion is scheduled for February 2019. The average apartment price is 550 million Yen (approx. 4.9 million USD), and 40% of the apartments have already sold off-the-plan.