Tokyo Apartment Sales in September 2021

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

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Toranomon Hills Residence (2014)
3-Bedroom
¥3,907,000
/sqm
$3,270
/sq ft
114 4.8%

Toranomon Hills is the current crown jewel for Mori Building’s mixed-use office/hotel/residential projects. The residences on floors 36~46 were the most luxurious apartments in Japan when completed in 2014. Just 70 of the 172 apartments were made available for purchase, with the remainder held as rental-only units.  This was one of the larger units. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date. It sold tenanted, with a gross yield of around 3.1%. There is currently just 1 sale listing in the building with an asking price of around 4,800,000 Yen/sqm.

 
Brillia Ichibancho (2019)
2-Bedroom
¥2,971,000
/sqm
$2,485
/sq ft
49 2.8%

Brillia Ichibancho is an 18-story, 106-unit luxury apartment building just west of the Imperial Palace. When new, apartments were priced from 130 ~ 500 million Yen, with an average price of around 1,900,000 Yen/sqm. There is currently just 1 sale listing in the building with an asking price of around 2,400,000 Yen/sqm. The average resale price to date in 2021 is around 2,600,000 Yen/sqm, up 22% from 2020 (2,128,000 Yen/sqm). This apartment was on a high floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Proud Ebisu Hillside Garden (2020)
2-Bedroom
¥2,876,000
/sqm
$2,405
/sq ft
66 0%

Proud Ebisu Hillside Garden is a luxury hotel and condominium complex located a 3-minute walk from Ebisu Station. The 11-story building has a total of 88 apartments. When new, apartments were priced from 1,900,000 ~ 3,900,000 Yen/sqm. There are currently 4 sale listings with an average asking price of 2,660,000 Yen/sqm. The average resale price to date in 2021 is around 2,605,000 Yen/sqm. This has been the most expensive reported resale in this building on a price-per-square-meter basis.

 
Park Court Chiyoda Fujimi The Tower (2014)
1-Bedroom
¥2,711,000
/sqm
$2,270
/sq ft
13

Park Court Chiyoda Fujimi The Tower is a 40-story apartment building located close to Iidabashi Station in Chiyoda-ku. When sales began in late 2012 the average price of a new unit was around 1,435,000 Yen/sqm. The entire building had sold out by early 2013, 12 months prior to completion. Despite having 505 units, there is currently just 1 sale listing with an asking price of 3,616,000 Yen/sqm. The average sale price to date in 2021 is around 2,660,000 Yen/sqm, up 11.3% from 2020 (2,390,000 Yen/sqm) and up 23.1% from 2019 (2,160,000 Yen/sqm). This apartment sold for 25% more than an identical apartment a few floors up sold for in mid-2020.

 
Grand Suite Azabudai Hilltop Residence (2014)
1-Bedroom
¥2,631,000
/sqm
$2,200
/sq ft
51 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 zero sale listings in the building.The average sale price to date in 2021 is around 2,265,000 Yen/sqm, up 23.8% from 2020 (1,830,000 Yen/sqm) and up 21.4% from 2019 (1,865,000 Yen/sqm). This was a compact, tenanted apartment on a mid-floor. It has been the most expensive reported sale in this building on a price-per-square-meter basis to date. It sold for 34% more than it previously sold for just six months earlier.

 
The Roppongi Tokyo (2011)
2-Bedroom
¥2,557,000
/sqm
$2,140
/sq ft
20 0%

A 39-story, 611-unit high rise in the Roppongi neighbourhood with concierge, gym, guest suite and resident lounge. Current asking prices in this building range from 2,235,000 ~ 3,740,000 Yen/sqm, with an average price of around 2,680,000 Yen/sqm. There are currently 11 sale listings as of October 2021. The average sale price to date in 2021 is around 2,330,000 Yen/sqm, up 11.8% from 2020 (2,085,000 Yen/sqm) and up 10.7% from 2019 (2,105,000 Yen/sqm). This apartment sold for 74% more than an identical apartment a few floors down sold for in late 2013, and has been the second-most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Minamiaoyama Terrace Tokiwamatsu Forest (2006)
3-Bedroom
¥2,177,000
/sqm
$1,820
/sq ft
68 0%

A large-scale complex of 196 apartments located a 10 minute walk from Omotesando Station. There was just 1 apartment listed for sale with an asking price of 2,179,000 Yen/sqm. The average resale price to date in 2021 is around 1,824,000 Yen/sqm, up 3.9% from 2020 (1,755,000 Yen/sqm) and up 23.9% from 2019 (1,472,000 Yen/sqm). This apartment was on a mid-floor. It sold for approximately 54% more than a similarly-sized apartment on the same floor sold for in 2016 and has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
The Jingumae Residence (2013)
2-Bedroom
¥2,069,000
/sqm
$1,730
/sq ft
20 3.6%

The Jingumae Residence is a high-rise located a 9 minute walk from Omotesando Station and 650 meters from the Olympic Stadium. There were just 2 sale listings in the 220-unit building as at the end of September 2021, with an average asking price of 1,940,000 Yen/sqm. The average resale price to date in 2021 is around 1,820,000 Yen/sqm, showing no change from 2020, but down 5.7% from 2019 (1,930,000 Yen/sqm). This was one of the few apartments in the building with a private roof terrace. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
The Parkhouse Nishiazabu Residence (2014)
1-Bedroom
¥2,002,000
/sqm
$1,675
/sq ft
59

The Parkhouse Nishiazabu Residence is a 24-story high-rise located a 6-min walk from Hiroo Station and 12-min walk from Roppongi Station. When new, apartments had an average price of around 1,300,000 Yen/sqm. There are currently 5 sale listings in the 190-unit building with an average asking price of around 1,950,000 Yen/sqm, and 4 of those 5 listings are leased to tenants. The average sale price to date in 2021 is around 1,925,000 Yen/sqm, up 17% from 2020 (1,645,000 Yen/sqm) and up 5.5% from 2019,(1,825,000 Yen/sqm). This was a compact apartment on a mid-floor. It has been the second most expensive reported sale in this building on a price-per-square-meter basis to date.

 
Iikura Sansei Mansion (1970)
3-Bedroom
¥1,683,000
/sqm
$1,410
/sq ft
5 16.7%

Iikura Sansei Mansion is a 51-year old, 18-unit apartment building located just up the hill from Azabujuban Station and near the sprawling Toranomon-Azabudai Project redevelopment. There are discussions to redevelop this building, which may go towards explaining the high price. This apartment sold for approximately 176% more than a similarly-sized apartment sold for in early 2008 (the only other recent reported transaction). Over that same period, land values in this neighborhood have only risen by 6 ~ 8%.

 

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: 111.04 Yen).

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