Mitsubishi Jisho Residence announced that they will begin sales of apartments in The Parkhouse Grand Chidorigafuchi in early September.
With an average price of 2.4 million Yen/sqm, apartments in The Parkhouse will be the most expensive apartments to be released for sale across Japan since 2008. According to Mitusbishi Jisho’s president, the pricing reflects the premium location of the building and was decided prior to the recent spate of good news about Tokyo’s property market.
International property development group, Grosvenor, will be selling off individual apartments in a luxury residential building adjoining Roppongi Hills.
The Westminster Roppongi (previously named Roppongi Arents) is a 14-storey apartment building that was completed in 2003 – the same time as Roppongi Hills. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and have preiously been rented for between 470,000 ~ 2,200,000 Yen per month. Continue reading
The average price for a detached house in Tokyo was 43,177,200 Yen (553,000 USD) in 2010, and the average size of a house was 93.98 sqm (1011 sqft).
The following data is from AtHome.co.jp – one of Japan’s largest property listing sites. In Tokyo, there are 20,555 houses listed for sale as of August, 2011 (this may include listings of the same property by several agents). Of those, there are 741 (3.6%) under 20 million Yen (255,000 USD) and only 65 houses (0.3%) under 10 million Yen (128,000 USD). 75% of houses are priced between 20 ~ 55 million Yen (255 ~ 705,000 USD). Continue reading
According to real estate listing site Home’s, the average price for a 70sqm apartment less than 10 years old in Minato-ku and Shibuya-ku is approximately 65,500,000~66,800,000 Yen.
Continue reading for details on the average prices for each area in central Tokyo. Continue reading
Average price: 1,140,000 Yen/sqm
Size range: 52.80 ~ 154.59 sqm (568 ~ 1663 sqft)
Location: Roppongi, Minato-ku
Atlas Tower Roppongi is a high-rise condominium located just minutes from Roppongi Hills and Tokyo Midtown. Although the building was completed in January 2010, apartments were still listed for sale by the developer in 2012. The sales office have also been targeting mainland Chinese buyers through a Chinese-language sales site.
Apartment prices initially ranged from 82 to 340 million Yen, but the developer began slashing the prices of apartments that remained unsold following completion. For example, a 3-bedroom apartment of 155 sqm on the 27th floor was priced at 340 million Yen in 2010, but in 2013 the same apartment on the 28th floor was still listed by the developer at a reduced price of 280 million Yen (17.6% discount).
7-7-13, Roppongi, Minato-ku, Tokyo
Hibiya & Oedo Lines – Roppongi Station – 3 min walk
Chiyoda Line – Nogizaka Station – 5 min walk
|No. of units:
||Sumitomo Mitsui Corporation
||Asahi Kasei Homes
||40,000 ~ 55,000 Yen/month
11F 1-Bedroom + Study 64.86 sqm (698 sqft) + 9.80 sqm balcony. Previously listed for 87,100,000 Yen. Monthly building fees: 31,460 Yen.
2-Bedroom 81.56 sqm.
2-Bedroom 97.14 sqm
3-Bedroom 118.98 sqm
| APARTMENTS PREVIOUSLY LISTED FOR SALE
- 2010: 20F 2-bedroom 110.59sqm (1,190 sqft) 179,000,000 Yen
- 2010: 20F 3-bedroom 113.21sqm (1,220 sqft) 233,700,000 Yen
- 2010: 27F 3-bedroom 154.59sqm (1,660 sqft) 340,000,000 Yen
- 2013: 11F 1-Bedroom 64.86 sqm (698 sqft) 87,100,000 Yen
- 2013: 11F 2-Bedroom 101.58 sqm (1,093 sqft) 120,000,000 Yen (4.5% gross yield)
- 2013: 18F 1-Bedroom 62.57 sqm (673 sqft) 86,800,000 Yen
- 2013: 25F 3-Bedroom 92.97 sqm (1000 sqft) 135,000,000 Yen
Second-hand apartment prices are slowly recovering. As they are comparatively cheaper than brand new apartments, demand is returning and the viewpoint that this is no longer the bottom of the market is emerging.
Nagoya’s 7 cities see the highest increase of 2.7%
Real estate information provider, Tokyo Kantei, reported that the average price of a 70sqm apartment in Tokyo’s 23 Wards reached 42.97 million Yen in March, 2010. This is 9% higher than the bottom average price that was recorded in June, 2009.
From Autumn of 2009, Tokyo, Yokohama and Saitama have been showing signs of transitioning into a bullish market. Nagoya’s 7 cities had the largest rate of growth of 2.7% compared to the previous month, with Osaka and Kobe seeing almost no change.