Tokyo Apartment Sales in September 2020

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of September 2020:

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Ark Hills Sengokuyama Residence (2012)
2-Bedroom
¥2,797,000
/sqm
$2,465
/sq ft
346 3.6%

Ark Hills Sengokuyama is a 47-story mixed-use development by Mori Building. The high-end residences are located on the lower floors of the building and include concierge service and the Hills spa. Despite having 243 apartments, including Mori’s rental-only units, only 4 apartments are currently available for sale in this building, with an average asking price of 2,835,000 Yen/sqm. Two of these four apartments are rented to tenants with gross yields of 2.6 ~ 3.2%. This apartment was on a mid-floor. It sold for 38% more what an identical apartment a few floors down was listed for in 2016. This has been the most expensive reported resale in this building on a price-per-square-meter basis to date. The average resale price to date in 2020 is around 2,670,000 Yen/sqm, up 14.4% from 2019.

 
City Tower Azabujuban (2009)
3-Bedroom
¥2,553,000
/sqm
$2,250
/sq ft
61 0%

City Tower Azabujuban is located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,845,000 ~ 2,838,000 Yen/sqm, with an average of around 2,270,000 Yen/sqm. There are 10 sale listings in the 501-unit building as of July 2020. The average sale price to date in 2020 is around 2,060,000 Yen/sqm, up 5.6% from 2019 (1,950,000 Yen/sqm) and up 4.3% from 2018 (1,975,000 Yen/sqm). This was a spacious corner unit on a high floor with Tokyo Tower views. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Park Court Nogizaka The Tower (2019)
2-Bedroom
¥2,490,000
/sqm
$2,190
/sq ft
69 1.7%

Park Court Nogizaka The Tower is a 25-story apartment building located near Nogizaka Station and Aoyama Cemetery. This was the redevelopment of an older, low-rise apartment building dating from 1978. When new, apartments had an average price of around 2,400,000 Yen/sqm. There are currently 8 resales in the 88-unit building with an average asking price of 2,435,000 Yen/sqm. This was a corner apartment on a mid-floor. It has been the only publicly reported resale in this building to date in 2020.

 
The Parkhouse Gran Sanbancho (2014)
2-Bedroom
¥2,212,000
/sqm
$1,950
/sq ft
16 0%

The Parkhouse Gran Sanbancho is a luxurious 148-unit high-rise located in a prestigious location just 250 meters west of the Imperial Palace moat. When new, apartments had an average price of around 1,450,000 Yen/sqm, and all new apartments sold out five months before construction was completed. The average resale price to date in 2020 is 2,230,000 Yen/sqm, up 12.9% from 2019. This apartment was on a low floor. It sold for approximately 65% more than its price when brand new, and has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Park Court Minamiazabu (2020)
2-Bedroom
¥2,113,000
/sqm
$1,860
/sq ft
8 2.4%

Park Court Minamiazabu is a recently completed 143-unit, 15-story apartment building located south of Azabu Juban Station. Sales began in February 2019, with apartments priced around 1,500,000 ~ 2,000,000 Yen/sqm when new. There are currently 8 resale listings with an average asking price of 1,975,000 Yen/sqm. The average reported resale price to date in 2020 is around 1,960,000 Yen/sqm. This was a compact apartment on a high floor.

 
The Parkhouse Nishiazabu Residence (2014)
3-Bedroom
¥1,989,000
/sqm
$1,750
/sq ft
1 2.0%

The Parkhouse Nishiazabu Residence is a 24-story high-rise located a 6-min walk from Hiroo Station and a 12-min walk from Roppongi Station. When new, apartments had an average price of around 1,300,000 Yen/sqm. There are currently 12 sale listings with an average asking price of around 1,770,000 Yen/sqm. The average sale price to date in 2020 is around 1,685,000 Yen/sqm, down 7.7% from 2019 (1,825,000 Yen/sqm) and down 2.6% from 2017 (1,730,000 Yen/sqm). This was a spacious apartment on a high floor. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Grand Suite Azabudai Hilltop Tower (2014)
2-Bedroom
¥1,951,000
/sqm
$1,720
/sq ft
84 4.3%

Grand Suite Azabudai Hilltop Tower is a 166-unit, 29-story high-rise located near the Russian Embassy and across the street from the 580 billion Yen Toranomon-Azabudai Project. When pre-sales began in 2013, apartments had an average price of around 1,360,000 Yen/sqm. The current average asking price is around 2,000,000 Yen/sqm. The average resale price to date in 2020 is around 1,780,000 Yen/sqm, down 4.6% from 2019 (1,865,000 Yen/sqm) but up 8.2% from 2018 (1,645,000 Yen/sqm). This apartment sold for approximately 60% more than its price when brand new.

 
City Tower Ebisu (2019)
1-Bedroom
¥1,940,000
/sqm
$1,710
/sq ft
48 1.0%

City Tower Ebisu is a 23-story apartment building located a 7-minute walk from Ebisu Station. The current average asking price in this building is around 2,360,000 Yen/sqm. This was a compact apartment on a low floor. It has been the second publicly reported resale in this building to date.

 
Proud Ebisu (2012)
2-Bedroom
¥1,737,000
/sqm
$1,530
/sq ft
48 1.0%

Proud Ebisu is an 8-story, 103-unit apartment building located a 4-minute walk from Ebisu Station. When new, apartments had an average price of 1,200,000 Yen/sqm. This apartment sold for 26% more than it previously traded for in May.

 
 

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, and 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 are 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 the 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 (1 USD: 105.55 Yen).

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