Curious how a view of Tokyo Tower affects apartment prices?

It should come as no surprise that an apartment with views towards Tokyo Tower comes with a higher price. Although it no longer functions as a television transmission tower (those duties ended in 2018), it is perhaps the most admired landmark in Tokyo.

Based on data from 11 condominiums over 20 stories in the neighborhoods around Tokyo Tower, a view of the tower added 10 ~ 25% to the apartment price according to Tokyo Kantei.

The report also looked at how high-rise apartments are priced by developers based on the direction the unit is facing. When looking at price lists from a developer, south, south-east and south-west facing apartments will typically have higher price tags, and that is due to sunlight.

The most expensive direction is south-facing. The average price per square meter of a brand new south-facing apartment in Tokyo’s 23 wards was 1,037,000 Yen/sqm, while a north-facing apartment was 8% cheaper at 954,000 Yen/sqm. In the northern hemisphere, south-facing homes and apartments receive the most sunlight throughout the day, while the northern sides tend to be dark all year round. During the hot summer months, the sun is directly overhead, so south-facing homes do not have to worry about direct heat. In the cold winter months, the sun is lower on the horizon, providing light and warmth into the house. 

East facing apartments were priced at an average of 997,000 Yen/sqm, while west facing apartments were priced at 977,000 Yen/sqm. Eastern exposure gets early morning sunlight, especially in summertime, while west facing apartments contend with hot afternoons that can heat up a home into the evening.

Source: Tokyo Kantei, May 6, 2021.

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