Akasaka Tower Residence Top of the Hill - Current market analysis

The following is a detailed look at the current sale and rental market for the Akasaka Tower Residence Top of the Hill condominium tower in Akasaka, Tokyo. We hope this is informative for anyone considering purchasing or selling a unit in this building.

Akasaka Tower Residence was developed by Sunwood, Tokyu Land and Takenaka Corporation and completed in early 2008. The 45-storey, 158m tall building contains 521 apartments, of which 96 were purely for rent, with the remaining units owned by private individuals and occasionally available for rent or sale. The 82 apartments on floors 3 ~ 10 were originally all rental-only units, although some of them were sold off to individual buyers in recent years.

This is a luxury residence with concierge service, guest suites, library, coach entrance, wine cellar, guest parking, and a rooftop deck with lounge and cafe. The building is managed by Mori Building, which is the developer of high-end residential and large-scale complexes such as Roppongi Hills and Toranomon Hills.

Only two floors in the building feature unusually high-ceilings - the 11th and 28th floors. Apartments on these floors have ceiling heights of up to 3.29 meters in the living/dining and as high as 3.65 meters in the master bedroom (compared with the standard 2.4 meters found in many standard Japanese apartments).

When new, apartments had an average price of around 1,600,000 Yen/sqm. Currently, sale listings range from 91.8 ~ 368 million Yen, with an average price of 2,150,000 Yen/sqm. There are 16 units currently advertised for sale in this building.Read more

by Zoe Ward