British property company, Grosvenor Group, announced that their first luxury residential development in Japan – Grosvenor Place Kamizono-Cho in Yoyogi Park – has reached 100% occupancy in July, 2011.
The residence is located at the edge of Yoyogi Park in Shibuya-ku. The building has 4 stories + 3 basement floors and has 45 units ranging in size from 154 ~ 363 sqm (1657 ~ 3905 sqft). The rent for the 3 to 5 bedroom apartments ranges between 1.3 ~ 3.6 million Yen/month and the average rent is 2 million Yen/month, or 8300 Yen/sqm/month.
Occupancy increased following the March 11 Tohoku disaster. 60% of residents are foreigners and the remaining 40% are Japanese. More than half of the residents are company CEOS and directors.
Source: Shukan Jutaku Shimbun, July 25, 2011.
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