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

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Park Court Roppongi Hilltop (2012)
2-Bedroom
¥3,509,000
/sqm
$2,260
/sq ft
79 2.7%

Park Court Roppongi Hilltop is 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 4 sale listings in this building with an average price of 3,300,000 Yen/sqm. All 4 sale listings are tenanted and have gross rental yields of between 2.00 ~ 2.20%. This was a larger apartment on a low floor. It sold for 32% more than an identical apartment a few floors down was listed for in 2015 and has been the most expensive reported resale in this building on a price-per-square-meter basis to date. The average sale price to date in 2022 is around 3,375,000 Yen/sqm, up 23% from 2021 (2,755,000 Yen/sqm), and up 38% from 2020 (2,445,000 Yen/sqm). 

 
City Tower Azabujuban (2009)
1-Bedroom
¥3,376,000
/sqm
$2,170
/sq ft
94 4.8%

This was a corner apartment in a high-rise with views of Tokyo Tower. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for 33% more than an identically-sized apartment a few floors up sold for this past February and 52% more than it was reported to have last sold for in early 2020. And, 167% more than an identical unit a few floors up sold for in 2013. 

 
The House Minamiazabu (2004)
2-Bedroom
¥3,328,000
/sqm
$2,140
/sq ft
32 0%

The House Minamiazabu is a luxury 10-story apartment building in Hiroo. It was built on the site of the former mansion of the founder of Seibu Group. It includes a concierge, party room, kitchen studio, golf range, and guest suite. This has been the first publicly reported resale in this building since 2015, as the majority of sales go unreported. The average asking price in this building to date in 2022 has been around 3,700,000 Yen/sqm, up 21% from 2021 (3,050,000 Yen/sqm) and up 46% from 2019 (2,535,000 Yen/sqm). There were no listings in 2020 to use as a data point.

 
Park Court Azabujuban The Tower (2010)
1-Bedroom
¥3,027,000
/sqm
$1,950
/sq ft
72 0%

Park Court Azabujuban The Tower is a 440-unit, 36-story high-rise in the Azabu Juban area with concierge, gym, guest suite and resident lounge. Current asking prices in this building are around 3,110,000 Yen/sqm, with just 7 apartments listed for sale. The average sale price to date in 2022 is 2,665,000 Yen/sqm, up 22% from 2021 (2,180,000 Yen/sqm) and up 33% from 2020 (2,000,000 Yen/sqm). This was a compact apartment on a high floor with views of Tokyo Tower. It has been the most expensive reported sale in this building on a price-per-square-meter basis to date. It sold for 54% more than an identical apartment one floor up sold for in 2016 and 90% more than one a few floors down sold for in 2014.

 
Foretseine Akasaka Hinokizaka (2016)
1-Bedroom
¥3,010,000
/sqm
$1,935
/sq ft
71 0%

Foretseine Akasaka Hinokizaka is a luxury, low-rise apartment building located just up the hill from Hinokicho Park and Tokyo Midtown. When new, apartments were priced from 1,470,000 ~ 2,800,000 Yen/sqm. All new apartments had sold out by April 2015 – 9 months prior to completion. There are currently 2 sale listings (one of which is already under offer) in the 54-unit building with an average list price of 3,015,000 Yen/sqm. The average sale price to date in 2022 is around 3,010,000 Yen/sqm, up 12.7% from 2021 (2,670,000 Yen/sqm) and up 25.4% from 2020 (2,400,000 Yen/sqm). This apartment sold for 47% more than an identical apartment one floor down sold for in late 2020. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Aoyama Park Tower (2003)
2-Bedroom
¥2,964,000
/sqm
$1,910
/sq ft
20 0%

Aoyama Park Tower is a 34-story high-end apartment building located a few hundred meters from Shibuya Station. There are currently no sale listings in the 314-unit building. The average listing price in this building to date in 2022 has been around 3,070,000 Yen/sqm, up 29% from the average reported sale price in 2021 (2,380,000 Yen/sqm) and up 40% from 2020 (2,185,000 Yen/sqm). This was a spacious apartment on a high floor. It sold for 96% more than an identical apartment a few floors down sold for in 2013 and has been the second most expensive reported sale in this building on a price-per-square-meter basis to date.

 
The Roppongi Tokyo (2011)
2-Bedroom
¥2,759,000
/sqm
$1,775
/sq ft
81 3.6%

The Roppongi Tokyo is 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 2,465,000 ~ 3,845,000 Yen/sqm, with an average price of around 2,945,000 Yen/sqm. The average sale price to date in 2022 is around 2,515,000 Yen/sqm, up 10% from 2021 (2,290,000 Yen/sqm) and up 20% from 2020 (2,085,000 Yen/sqm). Apartments over 80 sqm had an average sale price of 2,770,000 Yen/sqm, up 20% from the average in 2021 (2,300,000 Yen/sqm). This was a larger, corner apartment. It sold for 6% more than an identical apartment a few floors up sold for this June and 32% more than one sold for in early 2019.

 
Hiroo Garden Hills (1984)
4-Bedroom
¥2,563,000
/sqm
$1,650
/sq ft
10 6.3%

Hiroo Garden Hills is a large-scale vintage apartment complex with 1,181 apartments. Only 2 units were listed for sale as of September 2022, and one of those was already under offer. The average asking price to date in 2022 is around 2,400,000 Yen/sqm. The average sale price to date in  2022 is around 2,055,000 Yen/sqm, up 1.2% from 2021 (2,030,000 Yen/sqm) and up 19% from 2020 (1,720,000 Yen/sqm). This apartment sold for 133% more than it previously sold for in 2002.

 

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: 144.48 Yen).

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