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

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Proud Motoazabu (2010)
3-Bedroom
¥3,296,000
/sqm
$2,965
/sq ft
50 0%

Proud Motoazabu is a 32-unit, 6-story luxury condo located atop the Motoazabu district in central Tokyo. When new, apartments ranged in price from 195 ~ 700 million Yen, with an average price of around 1,825,000 Yen/sqm. This was a spacious apartment on a high floor. It was sold tenanted with a gross yield of 2.2%. This has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for almost 30% more than a similarly-sized apartment a few floors down sold for in August.

 
Miyasaka Building The Shibuya Residence (2020)
Studio
¥3,093,000
/sqm
$2,780
/sq ft
50 2.1%

Miyamasu Building The Shibuya Residence is a 15-story apartment building with a planned sky-deck that will provide residents with direct access to Shibuya Station. This was the redevelopment of the former 63-year old Miyamasuzaka Apaato that was demolished in 2016. The current asking price in this building is around 3,140,000 Yen/sqm. This was a compact apartment on the top floor.

 
One Avenue Ichibancho Bunjin-dori (2018)
3-Bedroom
¥2,974,000
/sqm
$2,675
/sq ft
71 0%

One Avenue Ichibancho Bunjin-dori is a 14-story apartment building just west of the Imperial Palace. The 32-unit building was completed in 2018. When off-the-plan sales began in mid-2016, apartments had an average price of around 2,350,000 Yen/sqm. This was a spacious penthouse apartment with two bathrooms and a private rooftop terrace. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Akasaka Tower Residence Top of the Hill (2008)
2-Bedroom
¥2,478,000
/sqm
$2,230
/sq ft
3 0%

Akasaka Tower Residence Top of the Hill is a 45-story luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites. Despite having 521 apartments in the building, only 10 were available for sale as of October 2020. Of those, 5 were leased to tenants with an average gross yield of 3.2%. The current asking price in this building is around 2,275,000 Yen/sqm. The average resale price to date in 2020 is around 2,265,000 Yen/sqm, up 4.5% from 2019 (2,168,000 Yen/sqm) and up 6.9% from 2018 (2,119,000 Yen/sqm). This apartment was 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.

 
Waterras Tower Residence (2013)
1-Bedroom
¥2,319,000
/sqm
$2,085
/sq ft
127 0%

Waterras Tower is a large-scale, mixed-use development with office, retail and luxury residences near Shin-Ochanomizu and Akihabara Stations. There is currently just 1 sale listing in the 333-unit building with a list price of 2,349,000 Yen/sqm. The average resale price to date in 2020 is around 2,135,000 Yen/sqm, up 6.5% from 2019 (2,005,000 Yen/sqm) and up 17.6% from 2018 (1,815,000 Yen/sqm). This apartment sold tenanted with a gross yield of approximately 2.8%. It has been the third most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Grand Suite Azabudai Hilltop Tower (2014)
1-Bedroom
¥2,032,000
/sqm
$1,830
/sq ft
8 0%

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. There are currently no sale listings in the building. The average resale price to date in 2020 is around 1,830,000 Yen/sqm, down 1.9% from 2019 (1,865,000 Yen/sqm) but up 11.2% from 2018 (1,645,000 Yen/sqm). This has been the second most expensive reported resale in this building on a price-per-square-meter basis to date. The apartment sold for approximately 24% more than it previously traded for in 2017.

 
The Jingumae Residence (2013)
2-Bedroom
¥1,946,000
/sqm
$1,750
/sq ft
258 3.6%

The Jingumae Residence is a high-rise located a 9-minute walk from Omotesando Station and 650 meters from the Olympic Stadium site. There were just 3 sale listings in the 220-unit building as of the end of October 2020, with an average asking price of 1,830,000 Yen/sqm. The average resale price to date in 2020 is around 1,835,000 Yen/sqm, down 4.9% from 2019 (1,930,000 Yen/sqm) but up 9.6% from 2018 (1,675,000 Yen/sqm). This was a compact 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, selling for 8.5% more than an identical apartment a few floors down sold for in 2017.

 
Co-Op Olympia (1965)
2-Bedroom
¥1,238,000
/sqm
$1,115
/sq ft
38 3.3%

Co-Op OIympia is a landmark vintage apartment building located in a prime location alongside Omotesando Avenue and across the street from Harajuku Station and Yoyogi Park.  Built in 1965, the 8-story building has 171 apartments. There are currently 7 sale listings in the building with an average asking price of 1,660,000 Yen/sqm. This has been the only publicly reported sale in this building to date in 2020. In 2019 the average sale price was 1,445,000 Yen/sqm, down 4.9% from 2018 (1,520,000 Yen/sqm). This apartment was on a high floor. It sold tenanted with a gross yield of approximately 2.6%.

 
 
 

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: 103.35 Yen).

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