A luxury condo development in Kanazawa, Ishikawa Prefecture, has sold out. The Residence Kanazawa forms part of a mixed-use project that includes the Hyatt House and Hyatt Centric Kanazawa Hotel.
This was the most expensive apartment building to be offered for sale in the prefecture. Sales began in October 2018 with an average of 1.4 offers made per apartment. One-bedroom apartments were priced in the 30 million Yen range, with 75 sqm three-bedroom apartments selling from 53 million Yen. A 180 sqm penthouse was priced at 199.8 million Yen.
Half of the buyers were local city residents, 20% were from other parts of Ishikawa Prefecture, and the remaining 30% were from outside of the prefecture, including some from overseas.
Construction of the 15-story, 114-unit building is due for completion in April 2020.
Another new condo development on the opposite side of Kanazawa Station has reported receiving higher than expected inquiries after sales began in December 2019.
Source: The Hokkoku Shimbun, January 14, 2020.
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