A luxury, low-rise apartment building in Ashiya City went on sale a week ago, with all 16 apartments on offer receiving purchase applications.

Premist Ashiya is a 5-story building located a 3-minute walk from Ashiya Station. Most of the apartments are in the 80 sqm (860 sq.ft) range with three bedrooms. The apartments were priced from 75.8 ~ 210.8 million Yen (approx. US$550,000 ~ $1.5 million), with the majority priced in the 90 million Yen (US$655,000) range.

On a price-per-square-meter basis, these have been the most expensive apartments developed for sale in the Kansai area by Daiwa House Industry. A representative from the sales office said the response from buyers exceeded expectations. The wealthy buyers were purchasing for the inherent asset value in the product, considering the rising construction costs and difficulty in sourcing land for development so close to a train station.

Of the 27 apartments in the building, 16 were released for sale on August 20. A further 4 apartments were released for sale on the weekend of August 27 and 28, with a 112 sqm apartment priced at 194.8 million Yen. The developer is expecting all apartments to be sold by March 2023. Construction was completed in June 2022.

Source: The Kobe Shimbun, August 27, 2022.