Tokyo Apartment Sales in March 2021

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2021:

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Park Court Akasaka Hinokicho The Tower (2018)
1-Bedroom
¥3,335,000
/sqm
$2,800
/sq ft
78 0%

Park Court Akasaka Hinokicho The Tower is a luxury high-rise apartment building adjoining Tokyo Midtown. When off-the-plan apartment sales began in late 2015, there were an average of 1.9 buyers per apartment. The building was designed by Kengo Kuma and features concierge, gym, roof deck, and various resident lounges and function rooms. There are currently 2 sale listings in the 322-unit building, with asking prices ranging from 3,281,000 ~ 3,679,000 Yen/sqm. The average resale price in 2020 was 2,850,000 Yen/sqm. This was a compact apartment with park views.

 
Miyamasuzaka Building The Shibuya Residence (2020)
Studio
¥2,833,000
/sqm
$2,380
/sq ft
58 5.3%

Miyamasuzaka Building The Shibuya Residence is a 15-story apartment building located a 1-minute walk from Shibuya Station. There are currently 4 sale listings in the 152-unit building, with asking prices ranging from 2,895,000 ~ 4,475,000 Yen/sqm. This was a compact studio on a mid-floor. It has been the second reported resale in this building to date.

 
Park Court Roppongi Hilltop (2012)
2-Bedroom
¥2,603,000
/sqm
$2,190
/sq ft
17 0%

A 27-story, 270-unit high-rise located near Roppongi Itchome Station and Izumi Garden Tower. When new back in 2012, the average sale price was around 1,400,000 Yen/sqm. There are currently just 3 apartments listed for sale in this building with an average asking price of 2,760,000 Yen/sqm. This was a compact apartment on a mid-floor. It sold for 21% more than a similarly-sized apartment a few floors down sold for in 2015 and has been the most expensive reported sale in this building on a price-per-square-meter basis to date.

 
Waterras Tower Residence (2013)
3-Bedroom
¥2,507,000
/sqm
$2,110
/sq ft
3 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 2,711,000 Yen/sqm. The average resale price to date in 2021 is around 2,340,000 Yen/sqm, up 9.6% from 2020 (2,135,000 Yen/sqm) and up 16.7% from 2019 (2,005,000 Yen/sqm). This has been the second most expensive reported resale in this building on a  price-per-square-meter basis to date. It sold for 38.6% more than it previously traded for in 2016 and 77.6% more than an identical apartment a few floors up sold for in 2013.

 
City Tower Azabujuban (2009)
3-Bedroom
¥2,494,000
/sqm
$2,095
/sq ft
168 1.8%

City Tower Azabujuban is located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 2,030,000 ~ 2,630,000 Yen/sqm, with an average of around 2,320,000 Yen/sqm. There are 10 sale listings in the 501-unit building as of March 2021. The average sale price to date in 2021 is 2,150,000 Yen/sqm, up 4.4% from 2020 (2,060,000 Yen/sqm). This was a corner unit on a high floor with Tokyo Tower views.

 
Wellith Arisugawa (2013)
3-Bedroom
¥2,158,000
/sqm
$1,814
/sq ft
397 2.0%

Wellith Arisugawa is a 4-minute walk from Hiroo Station. When new, the average apartment price was 1,630,000 Yen/sqm. There are currently no sale listings in the 57-unit building. This apartment was on the second-highest floor in the building. It sold tenanted to an investor, with a gross rental yield of 3.4%. This has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Kojimachi Sanbancho Mansion (1971)
3-Bedroom
¥1,795,000
/sqm
$1,510
/sq ft
11 0%

Kojimachi Sanbancho Mansion is an 11-story vintage apartment building located in the wealthy Bancho neighborhood west of the Imperial Palace. There have been discussions about redeveloping the building for the past few years. Sale prices in this building have more than doubled over the past six years. This apartment sold for 175% more than an identical apartment one floor up sold for in 2004, and has been the most expensive reported sale in this building on a price-per-square-meter basis to date.

 
Park Court Minamiaoyama Hilltop Residence (2001)
2-Bedroom
¥1,781,000
/sqm
$1,500
/sq ft
38 1.5%

Park Court Minamiaoyama Hilltop Residence is a 5-story, 76-unit apartment building located between Omotesando and Hiroo. There are currently two sale listings with an average asking price of 1,565,000 Yen/sqm. This was a relatively spacious apartment on the top floor. It sold for 30% more than it was previously listed for in 2019 and has been the most expensive reported sale in this building on a price-per-square-meter basis to date.

 
Yoyogi Park Mansion (1983)
3-Bedroom
¥1,727,000
/sqm
$1,450
/sq ft
32 0%

Yoyogi Park Mansion is a vintage, 4-story apartment building located an 11-minute walk from Yoyogi-Koen Station. This was a relatively spacious apartment on the top floor. It sold for 60% more than it previously traded for in 2015 and has been the most expensive reported resale in this building on a price-per-square-meter basis for the past 30 years.

 
 

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: 110.58 Yen).

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