The Jingumae Residence, a recently completed condominium near Omotesando, has seen a surge in sales in the first half of 2013.

The sales office and showroom opened in January 2012. Of the 148 apartments available for sale, only 60 were sold in 2012. By mid-2013, a total of 125 apartments had sold, leaving 23 apartments remaining for sale. Approximately 15% of the buyers have been foreign investors from Singapore, Hong Kong and Taiwan.

Apartments have an average price of 1,327,000 Yen/sqm (13,500 USD/sqm, or 1250 USD/sqft). Half of the apartments were priced over 100 million Yen each.

The building contains a total of 220 apartments, of which 72 were given to owners of apartments in the previous government housing complex that stood on the site.

Construction was completed in April 2013, and apartments will be ready for hand-over in August.

Location

3-37 Jingumae, Shibuya-ku, Tokyo

Source: Jutaku Shimpo, July 25, 2013.

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