Tokyo apartment sales in April 2015

Tokyo apartment sales april

The following is a selection of apartments that were sold in central Tokyo during the month of April 2015:

Building Sold Price
(Yen / Sqm)
(USD / Sq Ft) Days Listed Discount
Coop Olympia (1965)
3-Bedrooms
¥1,348,000
/sqm
$1,047
/sq ft
46 7.40%
This 50-year old building is across the street from Harajuku Station. It is a local landmark. Residents have been discussing earthquake retrofitting or redevelopment for several years but no agreement has been reached. In 2001, a similar apartment sold for 420,000 Yen/sqm, which would amount to a total price increase of 220% or an annual appreciation rate of around 8.68%.
Akasaka Tower Residence (2008)
1-Bedroom
¥2,227,000
/sqm
$1,731
/sq ft
61 16.00%
In 2009, a similar apartment sold for 1,474,000 Yen/sqm, which would indicate a total price increase of 51.1%, or an annual appreciation rate of around 7.12%. Similar apartments on high floors in this building had an average price of around 1,400,000 Yen/sqm between 2011 ~ 2013. Recent sales have been around 1,900,000 ~ 2,325,000 Yen/sqm.
Axia Azabu (2005)
2-Bedrooms
¥1,318,000
/sqm
$1,024
/sq ft
44 7.40%
Located 1 minute from Azabu Juban Station. Prices hovered around 1,100,000 Yen/sqm between 2005 ~ 2013, but have risen to around 1,300,000 ~ 1,400,000 Yen/sqm in 2015.
Grand Suite Hiroo (2014)
2-Bedrooms
¥1,577,000
/sqm
$1,226
/sq ft
42 3.20%
A similar apartment would have had a price of approximately 1,320,000 Yen/sqm when sold by the developer, indicating a price increase of approximately 19% in the 12 months since the building was completed.
Sunwood Akasaka Hikawa (2013)
2-Bedrooms
¥1,813,000
/sqm
$1,409
/sq ft
21 0.80%
This apartment overlooks the greenery of the US Embassy Housing Compound. The average price in this building when brand new was approximately 1,455,000 Yen/sqm, indicating a potential increase in price of around 24% in the 1.5 years since the building was completed.
Park Tower Meguro (2007)
2-Bedrooms
¥1,819,000
/sqm
$1,414
/sq ft
50 0%
This building is 1 minute from Meguro Station which is seeing a large redevelopment project on the eastern side. This is the highest resale price per sqm seen since new. Similar apartments have sold for 1,528,000 Yen/sqm (early 2014) and 1,237,000 Yen/sqm (2012).
Park Court Akasaka The Tower (2009)
2-Bedrooms
¥1,785,000
/sqm
$1,387
/sq ft
6 0%
A 43-storey luxury high-rise tower. 12 months ago, similar apartments were selling for around 1,250,000 Yen/sqm, indicating a price increase of around 43% over the past year, and the highest sale price per sqm seen in the past 2 years. Between 2013 ~ 2014, the average sale price per square meter was 1,370,000 Yen/sqm. In 2015, the average sale price has been 1,710,000 Yen/sqm.
Mita Tsunamachi Park Mansion (1971)
3-Bedrooms
¥932,000
/sqm
$725
/sq ft
51 0%
Japan’s very first high-rise condominium tower and Mitsui’s first Park Mansion building. In 1971, new apartments were selling for 200,000 Yen/sqm. From the 1990s until the mid 2000’s, the average price hovered around 690,000 Yen/sqm, before reaching a peak of 1,200,000 ~ 1,400,000 Yen/sqm during the mini-bubble in 2007.

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, so not all transactions are recorded.
  • Japan Property Central cannot guarantee the accuracy of the information provided.
  • The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.
  • Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed is also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.
  • Not every sale is reported above.
  • Price per square meter or per square foot is calculated based on apartment’s internal floor area and does not include balconies, car parks or common areas.
  • Exchange rate is at the time of publishing the article and is subject to change.

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