Tokyo Apartment Sales in June 2022

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2022:

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
City Tower Azabujuban (2009)
3-Bedroom
¥3,815,000
/sqm
$2,620
/sq ft
18 0%

City Tower Azabujuban is located next door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 2,320,000 ~ 3,830,000 Yen/sqm, with an average of around 2,950,000 Yen/sqm. There are currently 8 sale listings in the 501-unit building as of June 2022. The average sale price to date in 2022 is around 2,480,000 Yen/sqm, up 4.6% from 2021 (2,370,000 Yen/sqm) and up 20.4% from 2020 (2,060,000 Yen/sqm). This was a corner apartment with views of Tokyo Tower. It sold for 14% more than it was previously listed for last September, 53% more than it was previously listed for in April 2021, and 99% more than it was previously reported to have sold for in 2016. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Roppongi Hills Residence (2003)
1-Bedroom
¥3,492,000
/sqm
$2,400
/sq ft
42 0%

Roppongi Hills has long been considered Japan’s premium address. There are currently just 3 sale listings in the building with an average asking price of 3,610,000 Yen/sqm. The average sale price to date in 2022 is around 3,195,000 Yen/sqm, up 4.6% from 2021 (3,055,000 Yen/sqm) and up 13.7% from 2020 (2,810,000 Yen/sqm). This was a smaller apartment on a mid-floor in Residence B. It sold for 90% 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.

 
Park Court Toranomon (2021)
3-Bedroom
¥3,242,000
/sqm
$2,230
/sq ft
12 0%

Park Court Toranomon is a recently completed 21-story apartment building located just down the street from Hotel Okura and the Okura Annex Building (currently being redeveloped). All apartments in this building sold out prior to completion. There are just 3 resale listings as of June 2022 with an average asking price of 3,365,000 Yen/sqm. Based on current rentals, the expected gross rental yields are in the 2% range. This apartment was on a mid-floor. It resold for approximately 24% more than its price when brand new.

 
Park Court Shibuya The Tower (2020)
2-Bedroom
¥2,828,000
/sqm
$1,945
/sq ft
80 12.8%

Park Court Shibuya The Tower is a 39-story, 503-unit leasehold apartment building located 600 meters from the Shibuya Crossing. The land is leased from Shibuya City under a 70-year fixed term. When new, apartments had an average price of around 2,700,000 Yen/sqm. There are currently 14 resale listings with an average asking price of 2,610,000 Yen/sqm. The average resale price to date in 2022 is around 2,500,000 Yen/sqm, up 13.1% from 2021 (2,210,000 Yen/sqm). This apartment sold for approximately 5% more than its price when brand new.

 
Park Court Akasaka The Tower (2009)
3-Bedroom
¥2,799,000
/sqm
$1,925
/sq ft
80 3.2%

Park Court Akasaka The Tower is a 43-story, 518-unit luxury high-rise in Akasaka. The current average asking price in this building is around 2,786,000 Yen/sqm, with 11 listings as of June 2022. Apartments over 100 sqm in size have an average asking price of 3,040,000 Yen/sqm. The average resale price to date in 2022 is around 2,430,000 Yen/sqm, up 22.1% from 2021 (1,990,000 Yen/sqm) and up 40% from 2020 (1,740,000 Yen/sqm). This apartment was on a high floor. It has been the most expensive reported sale in this building on a price-per-square-meter basis to date.

 
Hiroo Garden Hills (1985)
3-Bedroom
¥2,232,000
/sqm
$1,535
/sq ft
37 0%

Hiroo Garden Hills is a large-scale vintage apartment complex with 1,181 apartments. Only 1 unit was listed for sale as of June 2022, representing 0.08% of the total. The average asking price is currently around 2,383,000 Yen/sqm. The average sale price to date in  2022 is around 1,970,000 Yen/sqm, down 3% from 2021 (2,030,000 Yen/sqm) but up 15% from 2020 (1,720,000 Yen/sqm). This apartment sold for 135% more than an identical apartment a few floors up sold for in 2011.

 

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: 135.22 Yen).

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